Radiopharm Theranostics (ASX:RAD) Beneish M-Score: 56.29 (As of Jun. 24, 2026) — 117% Above Median


What is Radiopharm Theranostics Beneish M-Score?

Radiopharm Theranostics ASX:RAD -5.00% Beneish M-Score is 56.29 as of Jun. 24, 2026, which is 117% above its 10-year median of 25.99. The stock has 5 warning signs investors should review. Among 831 Biotechnology companies, Radiopharm Theranostics ranks worse than 97.95% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 56.29 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Radiopharm Theranostics's Beneish M-Score or its related term are showing as below:

ASX:RAD' s Beneish M-Score Range Over the Past 10 Years
Min: -4.32   Med: 25.99   Max: 56.29
Current: 56.29

During the past 4 years, the highest Beneish M-Score of Radiopharm Theranostics was 56.29. The lowest was -4.32. And the median was 25.99.

Radiopharm Theranostics Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Radiopharm Theranostics's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Radiopharm Theranostics Beneish M-Score Chart

Radiopharm Theranostics Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 -4.32 56.29

Radiopharm Theranostics Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -4.32 0.00 56.29

ASX:RAD vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Radiopharm Theranostics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Radiopharm Theranostics Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Radiopharm Theranostics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Radiopharm Theranostics's Beneish M-Score falls into.


Radiopharm Theranostics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Radiopharm Theranostics for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8672+0.528 * 93.1532+0.404 * 0.7897+0.892 * 12.1505+0.115 * 0.9938
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.0868+4.679 * 0.025844-0.327 * 0.7077
=56.29

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$10.40 Mil.
Revenue was A$3.63 Mil.
Gross Profit was A$0.04 Mil.
Total Current Assets was A$39.85 Mil.
Total Assets was A$86.48 Mil.
Property, Plant and Equipment(Net PPE) was A$0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was A$16.53 Mil.
Total Current Liabilities was A$14.93 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-38.34 Mil.
Gross Profit was A$-3.93 Mil.
Cash Flow from Operations was A$-36.65 Mil.
 Total Receivables was A$0.99 Mil.
Revenue was A$0.30 Mil.
Gross Profit was A$0.30 Mil.
Total Current Assets was A$22.85 Mil.
Total Assets was A$72.04 Mil.
Property, Plant and Equipment(Net PPE) was A$0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was A$15.67 Mil.
Total Current Liabilities was A$17.58 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(10.4 / 3.633) / (0.987 / 0.299)
=2.862648 / 3.301003
=0.8672

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(0.299 / 0.299) / (0.039 / 3.633)
=1 / 0.010735
=93.1532

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (39.854 + 0.053) / 86.482) / (1 - (22.848 + 0.061) / 72.036)
=0.538551 / 0.681978
=0.7897

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=3.633 / 0.299
=12.1505

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.008 / (0.008 + 0.061)) / (0.007 / (0.007 + 0.053))
=0.115942 / 0.116667
=0.9938

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(16.526 / 3.633) / (15.672 / 0.299)
=4.548858 / 52.414716
=0.0868

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 14.933) / 86.482) / ((0 + 17.576) / 72.036)
=0.172672 / 0.243989
=0.7077

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-38.342 - -3.932 - -36.645) / 86.482
=0.025844

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Radiopharm Theranostics has a M-score of 56.29 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 56.29 mean?
Radiopharm Theranostics (ASX:RAD) has a Beneish M-Score of 56.29 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Radiopharm Theranostics and its competitors. This is 117% above median its historical median of 25.99. According to the industry distribution chart, Radiopharm Theranostics ranks #814 out of 831 companies in the Biotechnology industry, placing it in the top 98%.
Is Radiopharm Theranostics' Beneish M-Score too high?
Radiopharm Theranostics' current Beneish M-Score of 56.29 is 117% above median its 10-year median of 25.99. Based on the distribution chart, Radiopharm Theranostics ranks #814 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers.
How does Radiopharm Theranostics' Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Radiopharm Theranostics ranks #814 out of 831 companies for Beneish M-Score. This places Radiopharm Theranostics in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Biotechnology company?
A good Beneish M-Score depends on the Biotechnology industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Radiopharm Theranostics and its competitors. Radiopharm Theranostics's current Beneish M-Score is 56.29, which is 117% above median its own 10-year median of 25.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Radiopharm Theranostics stock overvalued right now?
Radiopharm Theranostics (ASX:RAD) has a current Beneish M-Score of 56.29. The current Beneish M-Score is 56.29, which is 117% above median its 10-year median of 25.99. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Radiopharm Theranostics (ASX:RAD), the current Beneish M-Score is 56.29 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Radiopharm Theranostics Business Description

Other Exchanges RADX:USA
Address 62 Lygon Street, Suite 1, Level 3, Carlton South, Melbourne, VIC, AUS, 3053
Radiopharm Theranostics Ltd is an Australian-based clinical-stage radiotherapeutics company targeting cancer. The company has a pipeline of approximately four licensed platform technologies, with diagnostic and therapeutic applications at both the pre-clinical and clinical stages of development. The company is engaged in research, development, and commercialization of health technologies.