BioInvent International AB (LTS:0H22) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


LTS:0H22 BioInvent International AB LTS:0H22
48 GF Score
Price kr23.63
GF Value kr50.67
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is BioInvent International AB Beneish M-Score?

BioInvent International AB LTS:0H22 -0.21% 48 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates LTS:0H22 with a GF Score™ of 48/100 and a GF Value™ of kr50.67 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 831 Biotechnology companies, BioInvent International AB ranks worse than 120336.82% 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.

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

During the past 13 years, the highest Beneish M-Score of BioInvent International AB was 11.36. The lowest was -4.33. And the median was -0.56.

BioInvent International AB Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BioInvent International AB'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.

BioInvent International AB Beneish M-Score Chart

BioInvent International AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 11.36 -0.76 -3.57 0.00

BioInvent International AB 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 -2.93 -0.35 0.58 0.00 0.00

LTS:0H22 vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, BioInvent International AB'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.

BioInvent International AB Beneish M-Score vs Biotechnology Industry

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

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


LTS:0H22
48GF Score
BioInvent International AB LTS:0H22
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BioInvent International AB 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 BioInvent International AB 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 kr37.7 Mil.
Revenue was 13.423 + 3.016 + 3.321 + 198.098 = kr217.9 Mil.
Gross Profit was 13.423 + 3.016 + 3.321 + 198.098 = kr217.9 Mil.
Total Current Assets was kr505.7 Mil.
Total Assets was kr535.0 Mil.
Property, Plant and Equipment(Net PPE) was kr29.3 Mil.
Depreciation, Depletion and Amortization(DDA) was kr19.6 Mil.
Selling, General, & Admin. Expense(SGA) was kr73.4 Mil.
Total Current Liabilities was kr95.1 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.7 Mil.
Net Income was -119.224 + -125.802 + -128.589 + 38.799 = kr-334.8 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was -132.814 + -90.55 + -103.983 + 66.776 = kr-260.6 Mil.
 Total Receivables was kr69.2 Mil.
Revenue was 22.06 + 21.369 + 12.764 + 4.611 = kr60.8 Mil.
Gross Profit was 22.06 + 21.369 + 12.764 + 4.611 = kr60.8 Mil.
Total Current Assets was kr819.1 Mil.
Total Assets was kr862.8 Mil.
Property, Plant and Equipment(Net PPE) was kr43.7 Mil.
Depreciation, Depletion and Amortization(DDA) was kr19.7 Mil.
Selling, General, & Admin. Expense(SGA) was kr62.5 Mil.
Total Current Liabilities was kr87.0 Mil.
Long-Term Debt & Capital Lease Obligation was kr6.0 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)
=(37.746 / 217.858) / (69.233 / 60.804)
=0.17326 / 1.138626
=

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)
=(60.804 / 60.804) / (217.858 / 217.858)
=1 / 1
=

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 - (505.701 + 29.259) / 534.96) / (1 - (819.14 + 43.654) / 862.794)
=0 / 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
=217.858 / 60.804
=

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))
=(19.725 / (19.725 + 43.654)) / (19.617 / (19.617 + 29.259))
=0.311223 / 0.401363
=

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)
=(73.36 / 217.858) / (62.47 / 60.804)
=0.336733 / 1.0274
=

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)
=((0.733 + 95.121) / 534.96) / ((6.022 + 87.045) / 862.794)
=0.17918 / 0.107867
=

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
=(-334.816 - 0 - -260.571) / 534.96
=-0.138786

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
BioInvent International AB (LTS:0H22) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BioInvent International AB and its competitors. According to the industry distribution chart, BioInvent International AB ranks #999999 out of 831 companies in the Biotechnology industry.
Is BioInvent International AB's Beneish M-Score too high?
BioInvent International AB's current Beneish M-Score is 0.00. Based on the distribution chart, BioInvent International AB ranks #999999 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, BioInvent International AB has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does BioInvent International AB's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, BioInvent International AB ranks #999999 out of 831 companies for Beneish M-Score. This places BioInvent International AB 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 BioInvent International AB and its competitors. BioInvent International AB's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioInvent International AB stock overvalued right now?
Based on GuruFocus' analysis, BioInvent International AB (LTS:0H22) is currently considered Possible Value Trap. The stock's GF Value™ is kr50.67, compared to a current price of kr23.63 — trading 53.4% below its estimated fair value. The current Beneish M-Score is 0.00. BioInvent International AB's overall GF Score™ is 48/100 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 BioInvent International AB (LTS:0H22), the current Beneish M-Score is 0.00 as of Jun. 27, 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 BioInvent International AB (LTS:0H22) Overvalued in 2026?

Based on GuruFocus' analysis, BioInvent International AB stock appears to be undervalued. The current stock price of kr23.63 is trading 53.4% below its estimated GF Value™ of kr50.67. GuruFocus considers BioInvent International AB to be Possible Value Trap.

Key valuation signals for LTS:0H22:

  • Beneish M-Score: 0.00
  • GF Value™: kr50.67 vs. price of kr23.63 (53.4% below fair value)
  • GF Score™: 48/100 with 4 warning signs

No single metric tells the full story. See the LTS:0H22 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

BioInvent International AB Business Description

Other Exchanges BINV:SwedenBIX:Germany
Address Ideongatan 1, Lund, SWE, SE-223 70
BioInvent International AB is a clinical-stage biotech company. It discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently four drug candidates in five ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors, respectively. The company's validated, proprietary F.I.R.S.T technology platform identifies both targets and the antibodies that bind to them, generating many new drug candidates to fuel the company's clinical development pipeline and providing licensing and partnering opportunities. The company's pipeline portfolio comprises BI-1206, an antagonistic blocking antibody for the treatment of non-Hodgkin's lymphoma, and BI-1808 and BI-1910 (anti-TNFR2) for solid cancers.
48GF Score

Get the complete analysis for LTS:0H22

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

kr23.63
Price
kr50.67
GF Value