CBLL (CeriBell) Beneish M-Score: -2.53 (As of Jun. 25, 2026)


CBLL CeriBell Inc CBLL
12 GF Score
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What is CeriBell Beneish M-Score?

CeriBell CBLL +1.20% 12 Beneish M-Score is -2.53 as of Jun. 25, 2026. GuruFocus rates CBLL with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 766 Medical Devices & Instruments companies, CeriBell ranks worse than 54.7% 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 CeriBell's Beneish M-Score or its related term are showing as below:

CBLL' s Beneish M-Score Range Over the Past 10 Years
Min: -2.85   Med: -2.63   Max: -2.53
Current: -2.53

During the past 4 years, the highest Beneish M-Score of CeriBell was -2.53. The lowest was -2.85. And the median was -2.63.

CeriBell Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CeriBell'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.

CeriBell Beneish M-Score Chart

CeriBell Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 -2.56

CeriBell Quarterly Data
Dec22 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 0.00 -2.69 -2.85 -2.56 -2.53

CBLL vs LMRI, SIBN, CERS: Beneish M-Score Comparison

For the Medical Devices subindustry, CeriBell'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.

CeriBell Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, CeriBell's Beneish M-Score distribution charts can be found below:

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


CBLL
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CeriBell Inc CBLL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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CeriBell 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 CeriBell 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 * 1.0464+0.528 * 0.9947+0.404 * 1.546+0.892 * 1.3289+0.115 * 0.9743
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0292+4.679 * -0.10159-0.327 * 1.3718
=-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 $15.71 Mil.
Revenue was 26.494 + 24.784 + 22.589 + 21.199 = $95.07 Mil.
Gross Profit was 23.122 + 21.643 + 19.942 + 18.682 = $83.39 Mil.
Total Current Assets was $168.91 Mil.
Total Assets was $178.08 Mil.
Property, Plant and Equipment(Net PPE) was $3.97 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.25 Mil.
Selling, General, & Admin. Expense(SGA) was $127.27 Mil.
Total Current Liabilities was $16.18 Mil.
Long-Term Debt & Capital Lease Obligation was $20.98 Mil.
Net Income was -19.737 + -13.527 + -13.465 + -13.643 = $-60.37 Mil.
Non Operating Income was 1.442 + 1.531 + 1.662 + 1.786 = $6.42 Mil.
Cash Flow from Operations was -19.297 + -10.774 + -11.098 + -7.533 = $-48.70 Mil.
 Total Receivables was $11.30 Mil.
Revenue was 20.491 + 18.534 + 17.195 + 15.315 = $71.54 Mil.
Gross Profit was 18.007 + 16.238 + 15.011 + 13.159 = $62.42 Mil.
Total Current Assets was $205.42 Mil.
Total Assets was $213.47 Mil.
Property, Plant and Equipment(Net PPE) was $4.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.22 Mil.
Selling, General, & Admin. Expense(SGA) was $93.05 Mil.
Total Current Liabilities was $11.83 Mil.
Long-Term Debt & Capital Lease Obligation was $20.64 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)
=(15.712 / 95.066) / (11.299 / 71.535)
=0.165275 / 0.157951
=1.0464

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)
=(62.415 / 71.535) / (83.389 / 95.066)
=0.87251 / 0.87717
=0.9947

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 - (168.911 + 3.967) / 178.078) / (1 - (205.42 + 4.019) / 213.471)
=0.029201 / 0.018888
=1.546

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
=95.066 / 71.535
=1.3289

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))
=(1.219 / (1.219 + 4.019)) / (1.245 / (1.245 + 3.967))
=0.232722 / 0.238872
=0.9743

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)
=(127.271 / 95.066) / (93.054 / 71.535)
=1.338765 / 1.300818
=1.0292

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)
=((20.975 + 16.184) / 178.078) / ((20.641 + 11.831) / 213.471)
=0.208667 / 0.152114
=1.3718

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
=(-60.372 - 6.421 - -48.702) / 178.078
=-0.10159

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.

CeriBell 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?
CeriBell (CBLL) has a Beneish M-Score of -2.53 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CeriBell and its competitors. According to the industry distribution chart, CeriBell ranks #419 out of 766 companies in the Medical Devices & Instruments industry, placing it in the top 54.7%.
Is CeriBell's Beneish M-Score too high?
CeriBell's current Beneish M-Score is -2.53. Based on the distribution chart, CeriBell ranks #419 out of 766 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, CeriBell has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does CeriBell's Beneish M-Score compare to LMRI and SIBN?
According to the Medical Devices & Instruments industry distribution chart, CeriBell ranks #419 out of 766 companies for Beneish M-Score. This places CeriBell 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 CeriBell and its competitors. CeriBell'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 CeriBell stock overvalued right now?
CeriBell (CBLL) has a current Beneish M-Score of -2.53. The current Beneish M-Score is -2.53. CeriBell's overall GF Score™ is 12/100 with 3 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 CeriBell (CBLL), the current Beneish M-Score is -2.53 as of Jun. 25, 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.

CeriBell Business Description

Address 360 N. Pastoria Avenue, Sunnyvale, CA, USA, 94085
CeriBell Inc is a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. The company has developed the Ceribell System, a novel, point-of-care electroencephalography (EEG) platform designed to address the unmet needs of patients in the acute care setting. By combining proprietary, portable, and rapidly deployable hardware with sophisticated artificial intelligence (AI)-powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients with neurological conditions. Its products are Point-of-Care EEG, Clarity, and EEG Portal.
12GF Score

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