CV (CapsoVision) Beneish M-Score: -2.85 (As of Jun. 26, 2026)


CV CapsoVision Inc CV
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What is CapsoVision Beneish M-Score?

CapsoVision CV 10 Beneish M-Score is -2.85 as of Jun. 26, 2026. GuruFocus rates CV with a GF Score™ of 10/100. The stock has 1 warning sign investors should review. Among 766 Medical Devices & Instruments companies, CapsoVision ranks better than 71.54% 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 -2.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CV' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18   Med: -3.02   Max: -2.85
Current: -2.85

During the past 3 years, the highest Beneish M-Score of CapsoVision was -2.85. The lowest was -3.18. And the median was -3.02.

CapsoVision Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CapsoVision'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.

CapsoVision Beneish M-Score Chart

CapsoVision Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.18

CapsoVision Quarterly Data
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 0.00 0.00 0.00 -3.18 -2.85

CV vs SENS, MASS, ELMD: Beneish M-Score Comparison

For the Medical Devices subindustry, CapsoVision'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.

CapsoVision Beneish M-Score vs Medical Devices & Instruments Industry

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

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


CV
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CapsoVision Inc CV
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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CapsoVision 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 CapsoVision 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 * 1.0455+0.528 * 1.0408+0.404 * 0.8892+0.892 * 1.1261+0.115 * 0.7574
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0287+4.679 * -0.115051-0.327 * 0.7799
=-2.85

* 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 $1.93 Mil.
Revenue was 2.792 + 3.918 + 3.538 + 3.315 = $13.56 Mil.
Gross Profit was 1.329 + 1.954 + 1.914 + 1.811 = $7.01 Mil.
Total Current Assets was $24.50 Mil.
Total Assets was $25.95 Mil.
Property, Plant and Equipment(Net PPE) was $1.37 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.58 Mil.
Selling, General, & Admin. Expense(SGA) was $14.60 Mil.
Total Current Liabilities was $5.36 Mil.
Long-Term Debt & Capital Lease Obligation was $0.36 Mil.
Net Income was -7.033 + -7.394 + -7.921 + -4.625 = $-26.97 Mil.
Non Operating Income was 0.001 + 0 + -0.034 + -0.011 = $-0.04 Mil.
Cash Flow from Operations was -6.066 + -7.686 + -5.666 + -4.526 = $-23.94 Mil.
 Total Receivables was $1.64 Mil.
Revenue was 2.783 + 3.452 + 2.966 + 2.843 = $12.04 Mil.
Gross Profit was 1.494 + 1.734 + 1.657 + 1.592 = $6.48 Mil.
Total Current Assets was $10.59 Mil.
Total Assets was $12.45 Mil.
Property, Plant and Equipment(Net PPE) was $1.82 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.53 Mil.
Selling, General, & Admin. Expense(SGA) was $12.60 Mil.
Total Current Liabilities was $2.73 Mil.
Long-Term Debt & Capital Lease Obligation was $0.79 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)
=(1.925 / 13.563) / (1.635 / 12.044)
=0.14193 / 0.135752
=1.0455

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)
=(6.477 / 12.044) / (7.008 / 13.563)
=0.537778 / 0.5167
=1.0408

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 - (24.5 + 1.369) / 25.945) / (1 - (10.589 + 1.818) / 12.448)
=0.002929 / 0.003294
=0.8892

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
=13.563 / 12.044
=1.1261

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))
=(0.529 / (0.529 + 1.818)) / (0.58 / (0.58 + 1.369))
=0.225394 / 0.297589
=0.7574

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)
=(14.597 / 13.563) / (12.6 / 12.044)
=1.076237 / 1.046164
=1.0287

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)
=((0.362 + 5.363) / 25.945) / ((0.788 + 2.734) / 12.448)
=0.220659 / 0.282937
=0.7799

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
=(-26.973 - -0.044 - -23.944) / 25.945
=-0.115051

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.

CapsoVision has a M-score of -2.85 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 -2.85 mean?
CapsoVision (CV) has a Beneish M-Score of -2.85 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CapsoVision and its competitors. According to the industry distribution chart, CapsoVision ranks #218 out of 766 companies in the Medical Devices & Instruments industry, placing it in the top 28.5%.
Is CapsoVision's Beneish M-Score too high?
CapsoVision's current Beneish M-Score is -2.85. Based on the distribution chart, CapsoVision ranks #218 out of 766 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, CapsoVision has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does CapsoVision's Beneish M-Score compare to SENS and MASS?
According to the Medical Devices & Instruments industry distribution chart, CapsoVision ranks #218 out of 766 companies for Beneish M-Score. This puts CapsoVision 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 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 CapsoVision and its competitors. CapsoVision's current Beneish M-Score is -2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CapsoVision stock overvalued right now?
CapsoVision (CV) has a current Beneish M-Score of -2.85. The current Beneish M-Score is -2.85. CapsoVision's overall GF Score™ is 10/100 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 CapsoVision (CV), the current Beneish M-Score is -2.85 as of Jun. 26, 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.

CapsoVision Business Description

Other Exchanges H6U:Germany
Address 18805 Cox Avenue, Suite 250, Saratoga, CA, USA, 95070
CapsoVision Inc is a commercial-stage medical technology enterprise that innovates, manufactures, and markets endoscopic video imaging devices focused on internal imaging of the gastrointestinal (GI) system. The company's core technology platform is an orally ingestible capsule including multiple cameras facilitating 360-degree imaging, light-emitting diodes for measurement, onboard memory storage, and battery life permitting recording and onboard storage of video images. CapsoVision's products consist of the on-market CapsoCam Plus, directed at the small intestines, and the in-development CapsoColon 3D, directed at the large intestines. Geographically, the company generates the majority of its revenue from the United States.
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