4SC AG (FRA:VSC) Beneish M-Score: -0.08 (As of Jun. 25, 2026)

What is 4SC AG Beneish M-Score?

4SC AG FRA:VSC Beneish M-Score is -0.08 as of Jun. 25, 2026. The stock has 7 warning signs investors should review.

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.

Warning Sign:

Beneish M-Score -0.08 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for 4SC AG's Beneish M-Score or its related term are showing as below:

FRA:VSC' s Beneish M-Score Range Over the Past 10 Years
Min: -4.48 Med: -1.25 Max: 48.11
Current: -0.08

During the past 13 years, the highest Beneish M-Score of 4SC AG was 48.11. The lowest was -4.48. And the median was -1.25.

4SC AG Beneish M-Score Related Terms

4SC AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for 4SC AG'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.

4SC AG Beneish M-Score Chart

4SC AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

Get a 7-Day Free Trial

1.84

-2.76

48.11

-4.48

-0.08

4SC AG Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															48.11	0.00	-4.48	0.00	-0.08

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

For the Biotechnology subindustry, 4SC AG'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.

4SC AG Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, 4SC AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where 4SC AG's Beneish M-Score falls into.

Save Embed

4SC AG 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 4SC AG for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0

0.528 * 0.7633

0.404 * 0

0.892 * 7.6994

0.115 * 1.0181

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.444572

0.327 * 1.134

-0.08

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was €0.00 Mil.
Revenue was €2.59 Mil.
Gross Profit was €2.54 Mil.
Total Current Assets was €7.82 Mil.
Total Assets was €7.82 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.13 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €7.50 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-3.48 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.00 Mil.

Total Receivables was €0.00 Mil.
Revenue was €0.34 Mil.
Gross Profit was €0.25 Mil.
Total Current Assets was €8.73 Mil.
Total Assets was €8.86 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.51 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €7.49 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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 / 2.587)	/	(0.001 / 0.336)
	=	0	/	0.002976
	=	0

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)
	=	(0.252 / 0.336)	/	(2.542 / 2.587)
	=	0.75	/	0.982605
	=	0.7633

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 - (7.816 + 0.005) / 7.821)	/	(1 - (8.725 + 0.01) / 8.862)
	=	0	/	0.014331
	=	0

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
	=	2.587	/	0.336
	=	7.6994

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))
	=	(0.514 / (0.514 + 0.01))	/	(0.132 / (0.132 + 0.005))
	=	0.980916	/	0.963504
	=	1.0181

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 / 2.587)	/	(0 / 0.336)
	=	0	/	0
	=	1

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 + 7.499) / 7.821)	/	((0 + 7.493) / 8.862)
	=	0.958829	/	0.84552
	=	1.134

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
	=	(-3.477 - 0	-	0)	/	7.821
	=	-0.444572

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.

4SC AG has a M-score of -0.08 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -0.08 mean?

4SC AG (FRA:VSC) has a Beneish M-Score of -0.08 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on 4SC AG and its competitors.

Is 4SC AG's Beneish M-Score too high?

4SC AG's current Beneish M-Score is -0.08.

How does 4SC AG's Beneish M-Score compare to VRTX and REGN?

4SC AG's Beneish M-Score of -0.08 can be compared against companies in the Biotechnology 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 4SC AG and its competitors. 4SC AG's current Beneish M-Score is -0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is 4SC AG stock overvalued right now?

4SC AG (FRA:VSC) has a current Beneish M-Score of -0.08. The stock's GF Value™ is €3.51, compared to a current price of €0.10 — trading 97.2% below its estimated fair value. The current Beneish M-Score is -0.08. 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 4SC AG (FRA:VSC), the current Beneish M-Score is -0.08 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.

4SC AG Business Description

Industry Healthcare Biotechnology

Comparable Companies FRA:99B0 VRTX REGN ASX:CSL XKRX:207940 ALNY XBRU:UCB XBRU:ARGX INSM ONC XKRX:068270 BNTX OCSE:GMAB INCY HKSE:01801 HKSE:02269 RPRX XKRX:196170 RVMD ROIV

Address Fraunhoferstrasse 22, Planegg-Martinsried, DEU, 82152

Website https://www.4sc.com

4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs. Its pipeline is protected by a comprehensive portfolio of patents and currently comprises two drug candidates in clinical development resminostat and Domatinostat. The geographic area of the company is Germany, the EU, and Other countries, and the majority of the revenue comes from Other Countries.