RGTI (Rigetti Computing) Beneish M-Score: 24.08 (As of Jun. 28, 2026)


RGTI Rigetti Computing Inc RGTI
65 GF Score
Price $18.36
GF Value $1.01
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Rigetti Computing Beneish M-Score?

Rigetti Computing RGTI -0.27% 65 Beneish M-Score is 24.08 as of Jun. 28, 2026. GuruFocus rates RGTI with a GF Score™ of 65/100 and a GF Value™ of $1.01 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,408 Hardware companies, Rigetti Computing ranks worse than 99.58% 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 24.08 higher than -1.78, which implies that the company might have manipulated its financial results.

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

RGTI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.14   Med: -1.79   Max: 60.95
Current: 24.08

During the past 6 years, the highest Beneish M-Score of Rigetti Computing was 60.95. The lowest was -3.14. And the median was -1.79.


Rigetti Computing Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Rigetti Computing'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.

Rigetti Computing Beneish M-Score Chart

Rigetti Computing Annual Data
Trend Jan20 Jan21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 -3.14 41.48 -1.17

Rigetti Computing Quarterly Data
Jan20 Jan21 Oct21 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 -2.51 58.86 60.95 -1.17 24.08

RGTI vs QBTS, QUBT, BRAI: Beneish M-Score Comparison

For the Computer Hardware subindustry, Rigetti Computing'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.


Rigetti Computing Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Rigetti Computing's Beneish M-Score distribution charts can be found below:

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


RGTI
65GF Score
Rigetti Computing Inc RGTI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Rigetti Computing 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 Rigetti Computing 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 * 3.7677+0.528 * 1.6817+0.404 * 59.9695+0.892 * 1.0875+0.115 * 0.9286
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9823+4.679 * -0.012447-0.327 * 1.5583
=24.08

* 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 $4.38 Mil.
Revenue was 4.4 + 1.868 + 1.947 + 1.801 = $10.02 Mil.
Gross Profit was 1.378 + 0.652 + 0.404 + 0.566 = $3.00 Mil.
Total Current Assets was $432.21 Mil.
Total Assets was $650.68 Mil.
Property, Plant and Equipment(Net PPE) was $63.64 Mil.
Depreciation, Depletion and Amortization(DDA) was $8.96 Mil.
Selling, General, & Admin. Expense(SGA) was $26.13 Mil.
Total Current Liabilities was $61.88 Mil.
Long-Term Debt & Capital Lease Obligation was $4.51 Mil.
Net Income was 33.109 + -18.207 + -200.968 + -39.654 = $-225.72 Mil.
Non Operating Income was 53.697 + -1.379 + -186.017 + -22.814 = $-156.51 Mil.
Cash Flow from Operations was -16.216 + -14.901 + -13.822 + -16.169 = $-61.11 Mil.
Total Receivables was $1.07 Mil.
Revenue was 1.472 + 2.274 + 2.378 + 3.086 = $9.21 Mil.
Gross Profit was 0.442 + 1.003 + 1.204 + 1.99 = $4.64 Mil.
Total Current Assets was $214.36 Mil.
Total Assets was $269.14 Mil.
Property, Plant and Equipment(Net PPE) was $53.71 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.95 Mil.
Selling, General, & Admin. Expense(SGA) was $24.46 Mil.
Total Current Liabilities was $11.39 Mil.
Long-Term Debt & Capital Lease Obligation was $6.23 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)
=(4.376 / 10.016) / (1.068 / 9.21)
=0.436901 / 0.115961
=3.7677

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)
=(4.639 / 9.21) / (3 / 10.016)
=0.503692 / 0.299521
=1.6817

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 - (432.205 + 63.643) / 650.684) / (1 - (214.361 + 53.709) / 269.138)
=0.237959 / 0.003968
=59.9695

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
=10.016 / 9.21
=1.0875

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))
=(6.948 / (6.948 + 53.709)) / (8.955 / (8.955 + 63.643))
=0.114546 / 0.123351
=0.9286

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)
=(26.132 / 10.016) / (24.462 / 9.21)
=2.609026 / 2.656026
=0.9823

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)
=((4.509 + 61.879) / 650.684) / ((6.23 + 11.392) / 269.138)
=0.102028 / 0.065476
=1.5583

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
=(-225.72 - -156.513 - -61.108) / 650.684
=-0.012447

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.

Rigetti Computing has a M-score of 24.08 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 24.08 mean?
Rigetti Computing (RGTI) has a Beneish M-Score of 24.08 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rigetti Computing and its competitors. According to the industry distribution chart, Rigetti Computing ranks #2398 out of 2408 companies in the Hardware industry, placing it in the top 99.6%.
Is Rigetti Computing's Beneish M-Score too high?
Rigetti Computing's current Beneish M-Score is 24.08. Based on the distribution chart, Rigetti Computing ranks #2398 out of 2408 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Rigetti Computing has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rigetti Computing's Beneish M-Score compare to QBTS and QUBT?
According to the Hardware industry distribution chart, Rigetti Computing ranks #2398 out of 2408 companies for Beneish M-Score. This places Rigetti Computing 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Rigetti Computing and its competitors. Rigetti Computing's current Beneish M-Score is 24.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rigetti Computing stock overvalued right now?
Based on GuruFocus' analysis, Rigetti Computing (RGTI) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.01, compared to a current price of $18.36 — trading 1717.8% above its estimated fair value. The current Beneish M-Score is 24.08. Rigetti Computing's overall GF Score™ is 65/100 with 7 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 Rigetti Computing (RGTI), the current Beneish M-Score is 24.08 as of Jun. 28, 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 Rigetti Computing (RGTI) Overvalued in 2026?

Based on GuruFocus' analysis, Rigetti Computing stock appears to be overvalued. The current stock price of $18.36 is trading 1717.8% above its estimated GF Value™ of $1.01. GuruFocus considers Rigetti Computing to be Significantly Overvalued.

Key valuation signals for RGTI:

  • Beneish M-Score: 24.08
  • GF Value™: $1.01 vs. price of $18.36 (1717.8% above fair value)
  • GF Score™: 65/100 with 7 warning signs

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


Rigetti Computing Business Description

Address 775 Heinz Avenue, Berkeley, CA, USA, 94710
Rigetti Computing Inc builds quantum computers and the superconducting quantum processors that power them. The Company sells 9-qubit to 108-qubit quantum computing systems under the Novera and Cepheus trade names. Through the Rigetti Quantum Cloud Services (QCS) platform, the Company's machines can be integrated into any public, private or hybrid cloud. The Company also operates in Fremont, California; London, United Kingdom; Adelaide, Australia; British Columbia, Canada and Mumbai, India. The Company's revenue is derived from operations in the United States and the United Kingdom.
65GF Score

Get the complete analysis for RGTI

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

$18.36
Price
$1.01
GF Value