PBIGF (Paradigm Biopharmaceuticals) Beneish M-Score: -3.66 (As of Jun. 26, 2026)


PBIGF Paradigm Biopharmaceuticals Ltd PBIGF
18 GF Score
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What is Paradigm Biopharmaceuticals Beneish M-Score?

Paradigm Biopharmaceuticals PBIGF 18 Beneish M-Score is -3.66 as of Jun. 26, 2026. GuruFocus rates PBIGF with a GF Score™ of 18/100. The stock has 5 warning signs investors should review. Among 831 Biotechnology companies, Paradigm Biopharmaceuticals ranks better than 85.92% 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 -3.66 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PBIGF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.63   Med: -2.7   Max: -0.19
Current: -3.66

During the past 10 years, the highest Beneish M-Score of Paradigm Biopharmaceuticals was -0.19. The lowest was -4.63. And the median was -2.70.

Paradigm Biopharmaceuticals Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Paradigm Biopharmaceuticals'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.

Paradigm Biopharmaceuticals Beneish M-Score Chart

Paradigm Biopharmaceuticals Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -0.19 -4.63 -1.74 -3.66

Paradigm Biopharmaceuticals 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 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 0.00 -1.74 0.00 -3.66 0.00

PBIGF vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Paradigm Biopharmaceuticals'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.

Paradigm Biopharmaceuticals Beneish M-Score vs Biotechnology Industry

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

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


PBIGF
18GF Score
Paradigm Biopharmaceuticals Ltd PBIGF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Paradigm Biopharmaceuticals 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 Paradigm Biopharmaceuticals 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 * 1.5913+0.528 * 1.3983+0.404 * 0.1563+0.892 * 0.7727+0.115 * 0.5268
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0774+4.679 * -0.282741-0.327 * 1.0365
=-3.67

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was $4.15 Mil.
Revenue was $0.03 Mil.
Gross Profit was $0.02 Mil.
Total Current Assets was $15.71 Mil.
Total Assets was $16.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $3.44 Mil.
Total Current Liabilities was $2.11 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-12.22 Mil.
Gross Profit was $2.71 Mil.
Cash Flow from Operations was $-10.41 Mil.
 Total Receivables was $3.38 Mil.
Revenue was $0.04 Mil.
Gross Profit was $0.04 Mil.
Total Current Assets was $16.10 Mil.
Total Assets was $18.19 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.10 Mil.
Selling, General, & Admin. Expense(SGA) was $4.13 Mil.
Total Current Liabilities was $2.23 Mil.
Long-Term Debt & Capital Lease Obligation was $0.08 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)
=(4.15 / 0.034) / (3.375 / 0.044)
=122.058824 / 76.704545
=1.5913

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)
=(0.038 / 0.044) / (0.021 / 0.034)
=0.863636 / 0.617647
=1.3983

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 - (15.708 + 0.02) / 15.997) / (1 - (16.104 + 0.126) / 18.187)
=0.016816 / 0.107604
=0.1563

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
=0.034 / 0.044
=0.7727

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))
=(0.098 / (0.098 + 0.126)) / (0.098 / (0.098 + 0.02))
=0.4375 / 0.830508
=0.5268

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)
=(3.436 / 0.034) / (4.127 / 0.044)
=101.058824 / 93.795455
=1.0774

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 + 2.105) / 15.997) / ((0.078 + 2.231) / 18.187)
=0.131587 / 0.126959
=1.0365

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
=(-12.221 - 2.714 - -10.412) / 15.997
=-0.282741

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.

Paradigm Biopharmaceuticals has a M-score of -3.67 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.66 mean?
Paradigm Biopharmaceuticals (PBIGF) has a Beneish M-Score of -3.66 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Paradigm Biopharmaceuticals and its competitors. According to the industry distribution chart, Paradigm Biopharmaceuticals ranks #117 out of 831 companies in the Biotechnology industry, placing it in the top 14.1%.
Is Paradigm Biopharmaceuticals' Beneish M-Score too high?
Paradigm Biopharmaceuticals' current Beneish M-Score is -3.66. Based on the distribution chart, Paradigm Biopharmaceuticals ranks #117 out of 831 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Paradigm Biopharmaceuticals has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Paradigm Biopharmaceuticals' Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Paradigm Biopharmaceuticals ranks #117 out of 831 companies for Beneish M-Score. This places Paradigm Biopharmaceuticals in the top 14% 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 Paradigm Biopharmaceuticals and its competitors. Paradigm Biopharmaceuticals's current Beneish M-Score is -3.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Paradigm Biopharmaceuticals stock overvalued right now?
Paradigm Biopharmaceuticals (PBIGF) has a current Beneish M-Score of -3.66. The current Beneish M-Score is -3.66. Paradigm Biopharmaceuticals' overall GF Score™ is 18/100 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 Paradigm Biopharmaceuticals (PBIGF), the current Beneish M-Score is -3.66 as of Jun. 26, 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.

Paradigm Biopharmaceuticals Business Description

Other Exchanges P86:GermanyPAR:Australia
Address 500 Collins Street, Level 15, Melbourne, VIC, AUS, 3000
Paradigm Biopharmaceuticals Ltd is a late-stage clinical development company engaged in the research and development of therapeutic products for human use in Australia. The firm is engaged in developing injectable pentosan polysulfate sodium (iPPS) for the treatment of pain associated with musculoskeletal disorders driven by injury, inflammation, aging, degenerative disease, infection, or genetic predisposition. The company has registered the trademarks Zilosul and Rhinosul for the commercialization of iPPS.
18GF Score

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

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