CAMRF (Camurus AB) Beneish M-Score: -3.06 (As of Jun. 24, 2026)


CAMRF Camurus AB CAMRF
79 GF Score
Price $54.00
GF Value $83.14
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is Camurus AB Beneish M-Score?

Camurus AB CAMRF -3.57% 79 Beneish M-Score is -3.06 as of Jun. 24, 2026. GuruFocus rates CAMRF with a GF Score™ of 79/100 and a GF Value™ of $83.14 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 831 Biotechnology companies, Camurus AB ranks better than 75.81% 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 -3.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CAMRF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.5   Med: -1.84   Max: 4.78
Current: -3.06

During the past 13 years, the highest Beneish M-Score of Camurus AB was 4.78. The lowest was -3.50. And the median was -1.84.


Camurus AB Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Camurus AB'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.

Camurus AB Beneish M-Score Chart

Camurus AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.51 -2.28 -2.55 -2.02 -2.65

Camurus AB 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 -1.79 -2.12 -1.97 -2.65 -3.06

CAMRF vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Camurus AB'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.


Camurus AB Beneish M-Score vs Biotechnology Industry

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

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


CAMRF
79GF Score
Camurus AB CAMRF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Camurus AB 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 Camurus AB 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 * 0.8309+0.528 * 1.001+0.404 * 0.1662+0.892 * 1.2243+0.115 * 1.0832
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0506+4.679 * -0.05428-0.327 * 0.8187
=-2.97

* 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 $66.8 Mil.
Revenue was 57.217 + 49.977 + 60.503 + 70.746 = $238.4 Mil.
Gross Profit was 53.228 + 46.063 + 56.306 + 66.438 = $222.0 Mil.
Total Current Assets was $495.3 Mil.
Total Assets was $532.1 Mil.
Property, Plant and Equipment(Net PPE) was $34.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.8 Mil.
Selling, General, & Admin. Expense(SGA) was $77.6 Mil.
Total Current Liabilities was $42.8 Mil.
Long-Term Debt & Capital Lease Obligation was $9.5 Mil.
Net Income was 15.436 + 10.855 + 20.554 + 25.637 = $72.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 17.406 + 27.485 + 17.12 + 39.356 = $101.4 Mil.
Total Receivables was $65.7 Mil.
Revenue was 55.102 + 50.353 + 46.886 + 42.421 = $194.8 Mil.
Gross Profit was 51.225 + 47.32 + 43.61 + 39.388 = $181.5 Mil.
Total Current Assets was $362.9 Mil.
Total Assets was $391.7 Mil.
Property, Plant and Equipment(Net PPE) was $18.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.6 Mil.
Selling, General, & Admin. Expense(SGA) was $60.3 Mil.
Total Current Liabilities was $38.4 Mil.
Long-Term Debt & Capital Lease Obligation was $8.6 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)
=(66.791 / 238.443) / (65.657 / 194.762)
=0.280113 / 0.337114
=0.8309

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)
=(181.543 / 194.762) / (222.035 / 238.443)
=0.932127 / 0.931187
=1.001

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 - (495.334 + 34.374) / 532.148) / (1 - (362.94 + 17.967) / 391.711)
=0.004585 / 0.027582
=0.1662

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
=238.443 / 194.762
=1.2243

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))
=(1.595 / (1.595 + 17.967)) / (2.798 / (2.798 + 34.374))
=0.081536 / 0.075272
=1.0832

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)
=(77.614 / 238.443) / (60.341 / 194.762)
=0.325503 / 0.309819
=1.0506

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)
=((9.514 + 42.811) / 532.148) / ((8.635 + 38.408) / 391.711)
=0.098328 / 0.120096
=0.8187

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
=(72.482 - 0 - 101.367) / 532.148
=-0.05428

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.

Camurus AB has a M-score of -2.97 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 -3.06 mean?
Camurus AB (CAMRF) has a Beneish M-Score of -3.06 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Camurus AB and its competitors. According to the industry distribution chart, Camurus AB ranks #201 out of 831 companies in the Biotechnology industry, placing it in the top 24.2%.
Is Camurus AB's Beneish M-Score too high?
Camurus AB's current Beneish M-Score is -3.06. Based on the distribution chart, Camurus AB ranks #201 out of 831 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Camurus AB has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Camurus AB's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Camurus AB ranks #201 out of 831 companies for Beneish M-Score. This places Camurus AB in the top 24% of its industry — outperforming the majority of peers. 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 Camurus AB and its competitors. Camurus AB's current Beneish M-Score is -3.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Camurus AB stock overvalued right now?
Based on GuruFocus' analysis, Camurus AB (CAMRF) is currently considered Significantly Undervalued. The stock's GF Value™ is $83.14, compared to a current price of $54.00 — trading 35% below its estimated fair value. The current Beneish M-Score is -3.06. Camurus AB's overall GF Score™ is 79/100 with 1 warning sign 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 Camurus AB (CAMRF), the current Beneish M-Score is -3.06 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.

Is Camurus AB (CAMRF) Overvalued in 2026?

Based on GuruFocus' analysis, Camurus AB stock appears to be undervalued. The current stock price of $54.00 is trading 35% below its estimated GF Value™ of $83.14. GuruFocus considers Camurus AB to be Significantly Undervalued.

Key valuation signals for CAMRF:

  • Beneish M-Score: -3.06
  • GF Value™: $83.14 vs. price of $54.00 (35% below fair value)
  • GF Score™: 79/100 with 1 warning sign

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


Camurus AB Business Description

Address Rydbergs torg 4, Lund, SWE, SE-224 84
Camurus AB is a science-led biopharmaceutical company focused on developing and commercializing long-acting medicines for the treatment of severe and chronic diseases. It has two approved products, including treatments for opioid dependence, and a development pipeline supported by its FluidCrystal technology. Its clinical pipeline includes product candidates for conditions such as pain, cancer, endocrine, and metabolic diseases, developed in-house and in collaboration with international pharmaceutical companies. Its pipeline programs include CAM2029 for acromegaly, gastroenteropancreatic neuroendocrine tumors, and polycystic liver disease; CAM2038 for chronic pain; CAM4072 for genetic obesity disorders; CAM2043 for Raynaud's phenomenon; CAM4071 for endocrine disorders, among others.
79GF Score

Get the complete analysis for CAMRF

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

$54.00
Price
$83.14
GF Value