Vitasora Health (ASX:VHL) Beneish M-Score: 3.81 (As of Jun. 24, 2026) — 108% Above Median

What is Vitasora Health Beneish M-Score?

Vitasora Health ASX:VHL Beneish M-Score is 3.81 as of Jun. 24, 2026, which is 108% above its 10-year median of 1.83. The stock has 6 warning signs investors should review. Among 632 Healthcare Providers & Services companies, Vitasora Health ranks worse than 98.1% 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 3.81 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ASX:VHL' s Beneish M-Score Range Over the Past 10 Years
Min: -5.76 Med: 1.83 Max: 78.59
Current: 3.81

During the past 13 years, the highest Beneish M-Score of Vitasora Health was 78.59. The lowest was -5.76. And the median was 1.83.

Vitasora Health Beneish M-Score Related Terms

Vitasora Health Beneish M-Score Historical Data

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The historical data trend for Vitasora Health'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.

Vitasora Health Beneish M-Score Chart

Vitasora Health Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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0.00

78.59

-5.76

0.00

3.81

Vitasora Health Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	3.81	0.00

ASX:VHL vs VEEV, BTSG, TEM: Beneish M-Score Comparison

For the Health Information Services subindustry, Vitasora Health'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.

Vitasora Health Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Vitasora Health's Beneish M-Score distribution charts can be found below:

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

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Vitasora Health 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 Vitasora Health for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.2352

0.528 * 1.0098

0.404 * 3.0518

0.892 * 6.7702

0.115 * 2.0145

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.0906

4.679 * -0.084112

0.327 * 0.3583

3.81

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was A$1.52 Mil.
Revenue was A$3.09 Mil.
Gross Profit was A$3.06 Mil.
Total Current Assets was A$5.34 Mil.
Total Assets was A$18.40 Mil.
Property, Plant and Equipment(Net PPE) was A$0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.06 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.26 Mil.
Total Current Liabilities was A$3.66 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-10.11 Mil.
Gross Profit was A$0.61 Mil.
Cash Flow from Operations was A$-9.17 Mil.

Total Receivables was A$0.18 Mil.
Revenue was A$0.46 Mil.
Gross Profit was A$0.46 Mil.
Total Current Assets was A$6.76 Mil.
Total Assets was A$8.80 Mil.
Property, Plant and Equipment(Net PPE) was A$-0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.06 Mil.
Selling, General, & Admin. Expense(SGA) was A$6.94 Mil.
Total Current Liabilities was A$4.83 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.06 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)
	=	(1.522 / 3.094)	/	(0.182 / 0.457)
	=	0.49192	/	0.398249
	=	1.2352

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)
	=	(0.457 / 0.457)	/	(3.064 / 3.094)
	=	1	/	0.990304
	=	1.0098

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 - (5.335 + 0.058) / 18.404)	/	(1 - (6.764 + -0.001) / 8.802)
	=	0.706966	/	0.231652
	=	3.0518

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
	=	3.094	/	0.457
	=	6.7702

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))
	=	(0.064 / (0.064 + -0.001))	/	(0.059 / (0.059 + 0.058))
	=	1.015873	/	0.504274
	=	2.0145

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)
	=	(4.26 / 3.094)	/	(6.942 / 0.457)
	=	1.376858	/	15.190372
	=	0.0906

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 + 3.662) / 18.404)	/	((0.057 + 4.831) / 8.802)
	=	0.198978	/	0.555328
	=	0.3583

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
	=	(-10.105 - 0.611	-	-9.168)	/	18.404
	=	-0.084112

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.

Vitasora Health has a M-score of 3.81 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 3.81 mean?

Vitasora Health (ASX:VHL) has a Beneish M-Score of 3.81 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vitasora Health and its competitors. This is 108% above median its historical median of 1.83. According to the industry distribution chart, Vitasora Health ranks #620 out of 632 companies in the Healthcare Providers & Services industry, placing it in the top 98.1%.

Is Vitasora Health's Beneish M-Score too high?

Vitasora Health's current Beneish M-Score of 3.81 is 108% above median its 10-year median of 1.83. Based on the distribution chart, Vitasora Health ranks #620 out of 632 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers.

How does Vitasora Health's Beneish M-Score compare to VEEV and BTSG?

According to the Healthcare Providers & Services industry distribution chart, Vitasora Health ranks #620 out of 632 companies for Beneish M-Score. This places Vitasora Health 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 Healthcare Providers & Services company?

A good Beneish M-Score depends on the Healthcare Providers & Services 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 Vitasora Health and its competitors. Vitasora Health's current Beneish M-Score is 3.81, which is 108% above median its own 10-year median of 1.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Vitasora Health stock overvalued right now?

Vitasora Health (ASX:VHL) has a current Beneish M-Score of 3.81. The current Beneish M-Score is 3.81, which is 108% above median its 10-year median of 1.83. 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 Vitasora Health (ASX:VHL), the current Beneish M-Score is 3.81 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.

Vitasora Health Business Description

Industry Healthcare Healthcare Providers & Services

Comparable Companies ASX:RHT ASX:ICR ASX:PKY ASX:AHE ASX:BMT ASX:TRI ASX:PCK ASX:CTQ ASX:HIQ ASX:VFX VEEV BTSG ASX:PME TEM HQY TSE:2413 HKSE:02228 HNGE DOCS WAY

Other Exchanges VHLUF:USA

Address 432 Street Kilda Road, Level 9, Melbourne, VIC, AUS, 3004

Website https://vitasorahealth.com.au

Vitasora Health Ltd is engaged in healthcare technology and services, providing critical patient health tracking services to clinicians and healthcare teams. Through data-driven programs, clinical technology, and support tools, it enables healthcare professionals to extend the capacity of care beyond the clinic. The company operates in Australia and the USA, with the majority of its revenue coming from the USA. The United States reportable segment, through the acquisition of Access Telehealth and Orb Health, provides reportable segment activities such as a broader value proposition and solutions for managing the majority chronic disease states, including Cardiovascular, Diabetes, Chronic Obstructive Pulmonary Disease (COPD), and Obesity.