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ModernaMRNA +9.86%59 Beneish M-Score is -3.83 as of Aug. 09, 2026. GuruFocus rates MRNA with a GF Score™ of 59/100 and a GF Value™ of $24.14 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 821 Biotechnology companies, Moderna ranks better than 87.82% 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.
Good Sign:
Beneish M-Score -3.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Moderna's Beneish M-Score or its related term are showing as below:
MRNA'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.83 Med: -2.27 Max: 172.29
Current: -3.83
During the past 10 years, the highest Beneish M-Score of Moderna was 172.29. The lowest was -3.83. And the median was -2.27.
The historical data trend for Moderna'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.
MRNA vs BNTX, INSM, INCY: Beneish M-Score Comparison
For the Biotechnology subindustry, Moderna'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.
Moderna Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Moderna's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Moderna's Beneish M-Score falls into.
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 Moderna 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 * 0.4205
+
0.528 * 2.291
+
0.404 * 0.8968
+
0.892 * 0.7234
+
0.115 * 0.8272
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2421
+
4.679 * -0.188943
-
0.327 * 1.8193
=
-3.83
* 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.
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.
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))
=
(208 / (208 + 2919))
/
(241 / (241 + 2756))
=
0.066517
/
0.080414
=
0.8272
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
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
=
(-3151 - -7
-
-1073)
/
10961
=
-0.188943
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.
Moderna has a M-score of -3.83 suggests that the company is unlikely to be a manipulator.
Moderna (MRNA) has a Beneish M-Score of -3.83 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Moderna and its competitors. According to the industry distribution chart, Moderna ranks #100 out of 821 companies in the Biotechnology industry, placing it in the top 12.2%.
Is Moderna's Beneish M-Score too high?
Moderna's current Beneish M-Score is -3.83. Based on the distribution chart, Moderna ranks #100 out of 821 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Moderna has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Moderna's Beneish M-Score compare to BNTX and INSM?
According to the Biotechnology industry distribution chart, Moderna ranks #100 out of 821 companies for Beneish M-Score. This places Moderna in the top 12% of its industry — outperforming the majority of peers. 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 Moderna and its competitors. Moderna's current Beneish M-Score is -3.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Moderna stock overvalued right now?
Based on GuruFocus' analysis, Moderna (MRNA) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.14, compared to a current price of $59.17 — trading 145.1% above its estimated fair value. The current Beneish M-Score is -3.83. Moderna's overall GF Score™ is 59/100 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 Moderna (MRNA), the current Beneish M-Score is -3.83 as of Aug. 09, 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 Moderna (MRNA) Overvalued in 2026?
Based on GuruFocus' analysis, Moderna stock appears to be overvalued.
The current stock price of $59.17 is trading 145.1% above its estimated GF Value™ of $24.14.
GuruFocus considers Moderna to be Significantly Overvalued.
Key valuation signals for MRNA:
Beneish M-Score: -3.83
GF Value™: $24.14 vs. price of $59.17 (145.1% above fair value)
No single metric tells the full story. See the MRNA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 35 mRNA development candidates in clinical studies as of August 2025. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.
59GF Score
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