BHST (BioHarvest Sciences) Beneish M-Score: -2.53 (As of Jun. 27, 2026)


BHST BioHarvest Sciences Inc BHST
64 GF Score
Price $2.77
GF Value $8.57
Valuation Possible Value Trap
! 4 Warning Signs
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What is BioHarvest Sciences Beneish M-Score?

BioHarvest Sciences BHST -1.42% 64 Beneish M-Score is -2.53 as of Jun. 27, 2026. GuruFocus rates BHST with a GF Score™ of 64/100 and a GF Value™ of $8.57 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, BioHarvest Sciences ranks better than 50.73% 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.

Good Sign:

Beneish M-Score -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BHST' s Beneish M-Score Range Over the Past 10 Years
Min: -5.56   Med: -2.55   Max: 17.61
Current: -2.53

During the past 12 years, the highest Beneish M-Score of BioHarvest Sciences was 17.61. The lowest was -5.56. And the median was -2.55.


BioHarvest Sciences Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BioHarvest Sciences'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.

BioHarvest Sciences Beneish M-Score Chart

BioHarvest Sciences Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.05 -2.89 -3.38 -2.72 -2.36

BioHarvest Sciences Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.18 -3.10 -2.94 -2.36 -2.53

BHST vs GWLL, CLNN, FTLF: Beneish M-Score Comparison

For the Packaged Foods subindustry, BioHarvest Sciences'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.


BioHarvest Sciences Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, BioHarvest Sciences's Beneish M-Score distribution charts can be found below:

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


BHST
64GF Score
BioHarvest Sciences Inc BHST
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BioHarvest Sciences 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 BioHarvest Sciences 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 * 1.1241+0.528 * 0.9423+0.404 * 0.7049+0.892 * 1.269+0.115 * 0.8964
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9426+4.679 * -0.093507-0.327 * 0.4381
=-2.53

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $3.18 Mil.
Revenue was 8.507 + 9.066 + 9.067 + 8.515 = $35.16 Mil.
Gross Profit was 5.037 + 5.225 + 5.57 + 5.086 = $20.92 Mil.
Total Current Assets was $28.32 Mil.
Total Assets was $45.56 Mil.
Property, Plant and Equipment(Net PPE) was $16.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.65 Mil.
Selling, General, & Admin. Expense(SGA) was $19.55 Mil.
Total Current Liabilities was $9.58 Mil.
Long-Term Debt & Capital Lease Obligation was $11.04 Mil.
Net Income was -2.641 + -2.204 + -2.513 + -4.08 = $-11.44 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -1.379 + -2.252 + -2.091 + -1.456 = $-7.18 Mil.
Total Receivables was $2.23 Mil.
Revenue was 7.86 + 7.278 + 6.539 + 6.027 = $27.70 Mil.
Gross Profit was 4.595 + 4.123 + 3.714 + 3.102 = $15.53 Mil.
Total Current Assets was $9.64 Mil.
Total Assets was $26.59 Mil.
Property, Plant and Equipment(Net PPE) was $16.59 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.45 Mil.
Selling, General, & Admin. Expense(SGA) was $16.35 Mil.
Total Current Liabilities was $18.93 Mil.
Long-Term Debt & Capital Lease Obligation was $8.53 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)
=(3.181 / 35.155) / (2.23 / 27.704)
=0.090485 / 0.080494
=1.1241

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)
=(15.534 / 27.704) / (20.918 / 35.155)
=0.560713 / 0.595022
=0.9423

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 - (28.32 + 16.802) / 45.558) / (1 - (9.643 + 16.587) / 26.591)
=0.00957 / 0.013576
=0.7049

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
=35.155 / 27.704
=1.269

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))
=(1.448 / (1.448 + 16.587)) / (1.653 / (1.653 + 16.802))
=0.080288 / 0.089569
=0.8964

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)
=(19.55 / 35.155) / (16.345 / 27.704)
=0.556109 / 0.589987
=0.9426

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)
=((11.037 + 9.578) / 45.558) / ((8.534 + 18.933) / 26.591)
=0.4525 / 1.032943
=0.4381

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
=(-11.438 - 0 - -7.178) / 45.558
=-0.093507

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.

BioHarvest Sciences has a M-score of -2.53 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.53 mean?
BioHarvest Sciences (BHST) has a Beneish M-Score of -2.53 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BioHarvest Sciences and its competitors. According to the industry distribution chart, BioHarvest Sciences ranks #911 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 49.3%.
Is BioHarvest Sciences' Beneish M-Score too high?
BioHarvest Sciences' current Beneish M-Score is -2.53. Based on the distribution chart, BioHarvest Sciences ranks #911 out of 1849 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, BioHarvest Sciences has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does BioHarvest Sciences' Beneish M-Score compare to GWLL and CLNN?
According to the Consumer Packaged Goods industry distribution chart, BioHarvest Sciences ranks #911 out of 1849 companies for Beneish M-Score. This puts BioHarvest Sciences in the upper 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 BioHarvest Sciences and its competitors. BioHarvest Sciences's current Beneish M-Score is -2.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioHarvest Sciences stock overvalued right now?
Based on GuruFocus' analysis, BioHarvest Sciences (BHST) is currently considered Possible Value Trap. The stock's GF Value™ is $8.57, compared to a current price of $2.77 — trading 67.7% below its estimated fair value. The current Beneish M-Score is -2.53. BioHarvest Sciences' overall GF Score™ is 64/100 with 4 warning signs to review. 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 BioHarvest Sciences (BHST), the current Beneish M-Score is -2.53 as of Jun. 27, 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.

Is BioHarvest Sciences (BHST) Overvalued in 2026?

Based on GuruFocus' analysis, BioHarvest Sciences stock appears to be undervalued. The current stock price of $2.77 is trading 67.7% below its estimated GF Value™ of $8.57. GuruFocus considers BioHarvest Sciences to be Possible Value Trap.

Key valuation signals for BHST:

  • Beneish M-Score: -2.53
  • GF Value™: $8.57 vs. price of $2.77 (67.7% below fair value)
  • GF Score™: 64/100 with 4 warning signs

No single metric tells the full story. See the BHST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BioHarvest Sciences Business Description

Other Exchanges 8MV0:Germany
Address 1140-625 Howe Street, Vancouver, BC, CAN, V6C 2T6
BioHarvest Sciences Inc is the developer and owner of the patented bio-cell growth platform farming technology. The Company has two operating segments or business units: the Products business unit and the CDMO Services business unit. In identifying these operating segments, management generally follows the Company's service lines representing its main products and services. The Products Business Unit - Nutraceuticals: Research, development, manufacturing, marketing and sales of science-based health and wellness nutraceutical solutions which are manufactured and sold as dietary supplements, functional food and beverages. The CDMO Services Business Unit - comprising a Contract Development and Manufacturing Operation that offers pharmaceuticals, cosmeceuticals, nutraceuticals, and nutritions.
64GF Score

Get the complete analysis for BHST

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.77
Price
$8.57
GF Value