Glow LifeTech (FRA:9DO) Beneish M-Score: -2.53 (As of Jun. 26, 2026)


What is Glow LifeTech Beneish M-Score?

Glow LifeTech FRA:9DO -30.61% Beneish M-Score is -2.53 as of Jun. 26, 2026. The stock has 1 warning sign investors should review. Among 831 Biotechnology companies, Glow LifeTech ranks better than 56.8% 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 Glow LifeTech's Beneish M-Score or its related term are showing as below:

FRA:9DO' s Beneish M-Score Range Over the Past 10 Years
Min: -2.53   Med: 0.17   Max: 21.67
Current: -2.53

During the past 7 years, the highest Beneish M-Score of Glow LifeTech was 21.67. The lowest was -2.53. And the median was 0.17.

Glow LifeTech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Glow LifeTech'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.

Glow LifeTech Beneish M-Score Chart

Glow LifeTech Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 12.97 -2.47

Glow LifeTech 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 1.62 0.17 -1.20 -2.47 -2.53

FRA:9DO vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Glow LifeTech'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.

Glow LifeTech Beneish M-Score vs Biotechnology Industry

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

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


Glow LifeTech 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 Glow LifeTech 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 * 0.3633+0.528 * 1.0469+0.404 * 1.1786+0.892 * 1.7907+0.115 * 1.1848
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5183+4.679 * -0.108028-0.327 * 0.8006
=-2.60

* 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 €0.46 Mil.
Revenue was 0.406 + 0.314 + 0.389 + 0.277 = €1.39 Mil.
Gross Profit was 0.26 + 0.2 + 0.264 + 0.186 = €0.91 Mil.
Total Current Assets was €1.86 Mil.
Total Assets was €2.70 Mil.
Property, Plant and Equipment(Net PPE) was €0.29 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.16 Mil.
Selling, General, & Admin. Expense(SGA) was €0.97 Mil.
Total Current Liabilities was €0.69 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was -0.037 + 0.001 + -0.065 + -0.234 = €-0.34 Mil.
Non Operating Income was 0.005 + 0.05 + 0 + 0.014 = €0.07 Mil.
Cash Flow from Operations was -0.2 + 0.035 + 0.073 + -0.02 = €-0.11 Mil.
 Total Receivables was €0.71 Mil.
Revenue was 0.308 + 0.223 + 0.143 + 0.1 = €0.77 Mil.
Gross Profit was 0.205 + 0.151 + 0.106 + 0.07 = €0.53 Mil.
Total Current Assets was €1.67 Mil.
Total Assets was €2.33 Mil.
Property, Plant and Equipment(Net PPE) was €0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.19 Mil.
Selling, General, & Admin. Expense(SGA) was €1.04 Mil.
Total Current Liabilities was €0.58 Mil.
Long-Term Debt & Capital Lease Obligation was €0.16 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)
=(0.46 / 1.386) / (0.707 / 0.774)
=0.33189 / 0.913437
=0.3633

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)
=(0.532 / 0.774) / (0.91 / 1.386)
=0.687339 / 0.656566
=1.0469

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 - (1.857 + 0.285) / 2.703) / (1 - (1.667 + 0.256) / 2.334)
=0.207547 / 0.176093
=1.1786

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
=1.386 / 0.774
=1.7907

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))
=(0.19 / (0.19 + 0.256)) / (0.16 / (0.16 + 0.285))
=0.426009 / 0.359551
=1.1848

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)
=(0.968 / 1.386) / (1.043 / 0.774)
=0.698413 / 1.347545
=0.5183

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 + 0.688) / 2.703) / ((0.162 + 0.58) / 2.334)
=0.254532 / 0.317909
=0.8006

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
=(-0.335 - 0.069 - -0.112) / 2.703
=-0.108028

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.

Glow LifeTech has a M-score of -2.60 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?
Glow LifeTech (FRA:9DO) has a Beneish M-Score of -2.53 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Glow LifeTech and its competitors. According to the industry distribution chart, Glow LifeTech ranks #359 out of 831 companies in the Biotechnology industry, placing it in the top 43.2%.
Is Glow LifeTech's Beneish M-Score too high?
Glow LifeTech's current Beneish M-Score is -2.53. Based on the distribution chart, Glow LifeTech ranks #359 out of 831 companies in the Biotechnology industry, which is above the industry midpoint.
How does Glow LifeTech's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Glow LifeTech ranks #359 out of 831 companies for Beneish M-Score. This puts Glow LifeTech 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 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 Glow LifeTech and its competitors. Glow LifeTech'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 Glow LifeTech stock overvalued right now?
Glow LifeTech (FRA:9DO) has a current Beneish M-Score of -2.53. The current Beneish M-Score is -2.53. 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 Glow LifeTech (FRA:9DO), the current Beneish M-Score is -2.53 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.

Glow LifeTech Business Description

Address 65 International Boulevard, Suite 103, Etobicoke, ON, CAN, M9W 6L9
Glow LifeTech Corp is a biotechnology company engaged in the business of secondary processing of ingredients to produce micellized materials from certain vitamins, nutraceuticals, and cannabis extracts. Its plant-based MyCell Technology delivery system transforms poorly absorbed natural compounds into enhanced water-compatible concentrates, unlocking the full healing potential of natural active compounds.