Northwest BiotherapeuticsNWBO -0.58%17 Beneish M-Score is -0.28 as of Jun. 25, 2026. GuruFocus rates NWBO with a GF Score™ of 17/100. The stock has 5 warning signs investors should review. Among 831 Biotechnology companies, Northwest Biotherapeutics ranks worse than 83.03% 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 -0.28 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Northwest Biotherapeutics's Beneish M-Score or its related term are showing as below:
NWBO'
s Beneish M-Score Range Over the Past 10 Years
Min: -15.97 Med: -4.89 Max: 29.06
Current: -0.28
During the past 13 years, the highest Beneish M-Score of Northwest Biotherapeutics was 29.06. The lowest was -15.97. And the median was -4.89.
Northwest Biotherapeutics Beneish M-Score Related Terms
Northwest Biotherapeutics Beneish M-Score Historical Data
* 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.
NWBO vs PROK, AVIR, IMRX: Beneish M-Score Comparison
For the Biotechnology subindustry, Northwest Biotherapeutics'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.
Northwest Biotherapeutics Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Northwest Biotherapeutics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Northwest Biotherapeutics'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 Northwest Biotherapeutics 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 * 1
+
0.528 * 1
+
0.404 * 7.9738
+
0.892 * 1.0163
+
0.115 * 0.7898
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8535
+
4.679 * -0.181772
-
0.327 * 0.3303
=
-0.28
* 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))
=
(2.037 / (2.037 + 20.534))
/
(2.686 / (2.686 + 20.821))
=
0.090249
/
0.114264
=
0.7898
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
=
(-43.888 - 18.517
-
-47.854)
/
80.051
=
-0.181772
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.
Northwest Biotherapeutics has a M-score of -0.28 signals that the company is likely to be a manipulator.
Northwest Biotherapeutics (NWBO) has a Beneish M-Score of -0.28 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Northwest Biotherapeutics and its competitors. According to the industry distribution chart, Northwest Biotherapeutics ranks #690 out of 831 companies in the Biotechnology industry, placing it in the top 83%.
Is Northwest Biotherapeutics' Beneish M-Score too high?
Northwest Biotherapeutics' current Beneish M-Score is -0.28. Based on the distribution chart, Northwest Biotherapeutics ranks #690 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Northwest Biotherapeutics has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Northwest Biotherapeutics' Beneish M-Score compare to PROK and AVIR?
According to the Biotechnology industry distribution chart, Northwest Biotherapeutics ranks #690 out of 831 companies for Beneish M-Score. This places Northwest Biotherapeutics 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 Northwest Biotherapeutics and its competitors. Northwest Biotherapeutics's current Beneish M-Score is -0.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northwest Biotherapeutics stock overvalued right now?
Northwest Biotherapeutics (NWBO) has a current Beneish M-Score of -0.28. The current Beneish M-Score is -0.28. Northwest Biotherapeutics' overall GF Score™ is 17/100 with 5 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 Northwest Biotherapeutics (NWBO), the current Beneish M-Score is -0.28 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.
Northwest Biotherapeutics Inc a biotechnology company focused on developing personalized immune therapies for cancer. The target is a broad range of solid-tumor cancers. The company has a proprietary manufacturing technology, which it uses to produce a personalized vaccine. The product portfolio includes product candidates such as DCVax-L, for patients with brain cancer; DCVax-Direct, direct injection into all types of inoperable solid tumor cancers, and DCVax for late-stage ovarian cancer. DCVax-Prostate, for late-stage prostate cancer, has received clearance from the U.S Food and Drug Administration.
17GF Score
Get the complete analysis for NWBO
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NWBO has been successfully added to your 
