Everest Medicines (HKSE:01952) Beneish M-Score: -1.71 (As of Jul. 04, 2026)


HKSE:01952 Everest Medicines Ltd HKSE:01952
43 GF Score
Price HK$27.80
GF Value HK$290.08
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Everest Medicines Beneish M-Score?

Everest Medicines HKSE:01952 +8.68% 43 Beneish M-Score is -1.71 as of Jul. 04, 2026. GuruFocus rates HKSE:01952 with a GF Score™ of 43/100 and a GF Value™ of HK$290.08 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 829 Biotechnology companies, Everest Medicines ranks worse than 68.64% 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.

Warning Sign:

Beneish M-Score -1.71 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:01952' s Beneish M-Score Range Over the Past 10 Years
Min: -1.71   Med: 3.41   Max: 189.8
Current: -1.71

During the past 8 years, the highest Beneish M-Score of Everest Medicines was 189.80. The lowest was -1.71. And the median was 3.41.

Everest Medicines Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Everest Medicines'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.

Everest Medicines Beneish M-Score Chart

Everest Medicines Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 189.80 5.89 0.93 -1.71

Everest Medicines Semi-Annual Data
Dec18 Dec19 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 5.89 0.00 0.93 0.00 -1.71

HKSE:01952 vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Everest Medicines'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.

Everest Medicines Beneish M-Score vs Biotechnology Industry

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

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


HKSE:01952
43GF Score
Everest Medicines Ltd HKSE:01952
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Everest Medicines 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 Everest Medicines 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 * 0.5677+0.528 * 1.0766+0.404 * 0.8847+0.892 * 2.4989+0.115 * 0.8888
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5773+4.679 * -0.030023-0.327 * 1.2546
=-1.71

* 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 HK$552 Mil.
Revenue was HK$1,885 Mil.
Gross Profit was HK$1,306 Mil.
Total Current Assets was HK$3,727 Mil.
Total Assets was HK$7,551 Mil.
Property, Plant and Equipment(Net PPE) was HK$692 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$173 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,168 Mil.
Total Current Liabilities was HK$762 Mil.
Long-Term Debt & Capital Lease Obligation was HK$920 Mil.
Net Income was HK$-329 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-102 Mil.
 Total Receivables was HK$389 Mil.
Revenue was HK$755 Mil.
Gross Profit was HK$563 Mil.
Total Current Assets was HK$2,152 Mil.
Total Assets was HK$5,294 Mil.
Property, Plant and Equipment(Net PPE) was HK$660 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$143 Mil.
Selling, General, & Admin. Expense(SGA) was HK$809 Mil.
Total Current Liabilities was HK$847 Mil.
Long-Term Debt & Capital Lease Obligation was HK$92 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)
=(552.381 / 1885.41) / (389.389 / 754.5)
=0.292977 / 0.516089
=0.5677

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)
=(562.539 / 754.5) / (1305.678 / 1885.41)
=0.745579 / 0.692517
=1.0766

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 - (3726.843 + 691.818) / 7550.774) / (1 - (2152.036 + 659.991) / 5294.423)
=0.414807 / 0.46887
=0.8847

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
=1885.41 / 754.5
=2.4989

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))
=(142.66 / (142.66 + 659.991)) / (172.916 / (172.916 + 691.818))
=0.177736 / 0.199964
=0.8888

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)
=(1167.755 / 1885.41) / (809.453 / 754.5)
=0.619364 / 1.072834
=0.5773

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)
=((919.535 + 761.833) / 7550.774) / ((92.479 + 847.239) / 5294.423)
=0.222675 / 0.177492
=1.2546

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
=(-328.95 - 0 - -102.253) / 7550.774
=-0.030023

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.

Everest Medicines has a M-score of -1.71 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 -1.71 mean?
Everest Medicines (HKSE:01952) has a Beneish M-Score of -1.71 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Everest Medicines and its competitors. According to the industry distribution chart, Everest Medicines ranks #569 out of 829 companies in the Biotechnology industry, placing it in the top 68.6%.
Is Everest Medicines' Beneish M-Score too high?
Everest Medicines' current Beneish M-Score is -1.71. Based on the distribution chart, Everest Medicines ranks #569 out of 829 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Everest Medicines has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Everest Medicines' Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Everest Medicines ranks #569 out of 829 companies for Beneish M-Score. This places Everest Medicines 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 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 Everest Medicines and its competitors. Everest Medicines's current Beneish M-Score is -1.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Everest Medicines stock overvalued right now?
Based on GuruFocus' analysis, Everest Medicines (HKSE:01952) is currently considered Possible Value Trap. The stock's GF Value™ is HK$290.08, compared to a current price of HK$27.80 — trading 90.4% below its estimated fair value. The current Beneish M-Score is -1.71. Everest Medicines' overall GF Score™ is 43/100 with 4 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 Everest Medicines (HKSE:01952), the current Beneish M-Score is -1.71 as of Jul. 04, 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.

Is Everest Medicines (HKSE:01952) Overvalued in 2026?

Based on GuruFocus' analysis, Everest Medicines stock appears to be undervalued. The current stock price of HK$27.80 is trading 90.4% below its estimated GF Value™ of HK$290.08. GuruFocus considers Everest Medicines to be Possible Value Trap.

Key valuation signals for HKSE:01952:

  • Beneish M-Score: -1.71
  • GF Value™: HK$290.08 vs. price of HK$27.80 (90.4% below fair value)
  • GF Score™: 43/100 with 4 warning signs

No single metric tells the full story. See the HKSE:01952 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Everest Medicines Business Description

Other Exchanges 6HN:Germany
Address AIA Financial Center, 866 East Changzhi Road, 17th Floor, Hongkou District, Shanghai, CHN, 200082
Everest Medicines Ltd is a biopharmaceutical company that integrates discovery, licensing, clinical development, commercialization, and manufacturing of potentially novel or differentiated therapies and vaccines to address critical unmet medical needs initially in the Asia Pacific markets and eventually around the world. Its product pipeline includes: Nefecon (TarpeyoTM), EVER001, Eravacycline (Xerava), SPR206, and others. Geographically operates in Mainland China.
43GF Score

Get the complete analysis for HKSE:01952

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$27.80
Price
HK$290.08
GF Value