CelLBxHealth (FRA:DWV) Beneish M-Score: -8.36 (As of Jun. 25, 2026)


What is CelLBxHealth Beneish M-Score?

CelLBxHealth FRA:DWV +19.35% Beneish M-Score is -8.36 as of Jun. 25, 2026. The stock has 5 warning signs investors should review. Among 195 Medical Diagnostics & Research companies, CelLBxHealth ranks worse than 73.85% 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 -8.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:DWV' s Beneish M-Score Range Over the Past 10 Years
Min: -8.36   Med: -2.62   Max: -1.95
Current: -8.36

During the past 13 years, the highest Beneish M-Score of CelLBxHealth was -1.95. The lowest was -8.36. And the median was -2.62.

CelLBxHealth Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CelLBxHealth'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.

CelLBxHealth Beneish M-Score Chart

CelLBxHealth 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 -2.56 -2.82 -2.73 -2.51 -8.36

CelLBxHealth Semi-Annual Data
Apr16 Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -2.73 0.00 -2.51 0.00 -8.36

FRA:DWV vs TMO, DHR, IDXX: Beneish M-Score Comparison

For the Diagnostics & Research subindustry, CelLBxHealth'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.

CelLBxHealth Beneish M-Score vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, CelLBxHealth's Beneish M-Score distribution charts can be found below:

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


CelLBxHealth 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 CelLBxHealth 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 * 0.2845+0.528 * 1.01+0.404 * 0.298+0.892 * 0.4472+0.115 * 0.2769
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.4786+4.679 * -0.814138-0.327 * 1.4608
=-8.38

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €0.19 Mil.
Revenue was €1.55 Mil.
Gross Profit was €0.95 Mil.
Total Current Assets was €11.88 Mil.
Total Assets was €14.39 Mil.
Property, Plant and Equipment(Net PPE) was €2.06 Mil.
Depreciation, Depletion and Amortization(DDA) was €6.43 Mil.
Selling, General, & Admin. Expense(SGA) was €0.85 Mil.
Total Current Liabilities was €4.31 Mil.
Long-Term Debt & Capital Lease Obligation was €1.14 Mil.
Net Income was €-22.30 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-10.59 Mil.
 Total Receivables was €1.51 Mil.
Revenue was €3.46 Mil.
Gross Profit was €2.15 Mil.
Total Current Assets was €19.81 Mil.
Total Assets was €30.74 Mil.
Property, Plant and Equipment(Net PPE) was €7.73 Mil.
Depreciation, Depletion and Amortization(DDA) was €2.05 Mil.
Selling, General, & Admin. Expense(SGA) was €0.55 Mil.
Total Current Liabilities was €3.93 Mil.
Long-Term Debt & Capital Lease Obligation was €4.04 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)
=(0.192 / 1.545) / (1.509 / 3.455)
=0.124272 / 0.436758
=0.2845

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)
=(2.148 / 3.455) / (0.951 / 1.545)
=0.621708 / 0.615534
=1.01

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 - (11.877 + 2.064) / 14.387) / (1 - (19.81 + 7.729) / 30.736)
=0.031 / 0.104015
=0.298

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
=1.545 / 3.455
=0.4472

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))
=(2.05 / (2.05 + 7.729)) / (6.428 / (6.428 + 2.064))
=0.209633 / 0.756948
=0.2769

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)
=(0.854 / 1.545) / (0.549 / 3.455)
=0.552751 / 0.1589
=3.4786

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)
=((1.143 + 4.31) / 14.387) / ((4.042 + 3.933) / 30.736)
=0.379023 / 0.259468
=1.4608

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
=(-22.303 - 0 - -10.59) / 14.387
=-0.814138

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.

CelLBxHealth has a M-score of -8.38 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 -8.36 mean?
CelLBxHealth (FRA:DWV) has a Beneish M-Score of -8.36 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CelLBxHealth and its competitors. According to the industry distribution chart, CelLBxHealth ranks #144 out of 195 companies in the Medical Diagnostics & Research industry, placing it in the top 73.8%.
Is CelLBxHealth's Beneish M-Score too high?
CelLBxHealth's current Beneish M-Score is -8.36. Based on the distribution chart, CelLBxHealth ranks #144 out of 195 companies in the Medical Diagnostics & Research industry, which is below the industry midpoint.
How does CelLBxHealth's Beneish M-Score compare to TMO and DHR?
According to the Medical Diagnostics & Research industry distribution chart, CelLBxHealth ranks #144 out of 195 companies for Beneish M-Score. This places CelLBxHealth 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 Diagnostics & Research company?
A good Beneish M-Score depends on the Medical Diagnostics & Research 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 CelLBxHealth and its competitors. CelLBxHealth's current Beneish M-Score is -8.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CelLBxHealth stock overvalued right now?
CelLBxHealth (FRA:DWV) has a current Beneish M-Score of -8.36. The current Beneish M-Score is -8.36. 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 CelLBxHealth (FRA:DWV), the current Beneish M-Score is -8.36 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.

CelLBxHealth Business Description

Other Exchanges ANPCF:USACLBX:UK
Address 10 Nugent Road, The Surrey Research Park, Surrey, Guildford, GBR, GU2 7AF
CelLBxHealth PLC is active in the healthcare sector in the United Kingdom. The Company's principal trading activity is undertaken in relation to the development and commercialization of the Parsortix cell separation system, with deployment in liquid biopsy that is non-invasive cancer diagnostics. It is a medical diagnostic company specializing in the development of pioneering products in cancer diagnostics. Its patented Parsortix technology can potentially treat and diagnose various forms of cancer. The Parsortix system can capture and harvest CTCs from patient blood. Its geographical segments include Europe and North America, of which the majority of its revenue is generated from Europe.