SHWZ (Medicine Man Technologies) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


SHWZ Medicine Man Technologies Inc SHWZ
12 GF Score
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What is Medicine Man Technologies Beneish M-Score?

Medicine Man Technologies SHWZ -90.00% 12 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates SHWZ with a GF Score™ of 12/100.

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 Medicine Man Technologies's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Medicine Man Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Medicine Man Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Medicine Man Technologies'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.

Medicine Man Technologies Beneish M-Score Chart

Medicine Man Technologies Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.39 -2.56 -0.33 -2.61 -3.28

Medicine Man Technologies Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 -3.13 -3.13 -3.28 -3.46 -3.63

SHWZ vs HEWA, RDGT, SSY: Beneish M-Score Comparison

For the Pharmaceutical Retailers subindustry, Medicine Man Technologies'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.

Medicine Man Technologies Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Medicine Man Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Medicine Man Technologies's Beneish M-Score falls into.


SHWZ
12GF Score
Medicine Man Technologies Inc SHWZ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Medicine Man Technologies 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 Medicine Man Technologies 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 * 0.541+0.528 * 1.4796+0.404 * 1.0026+0.892 * 1.0555+0.115 * 1.0474
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1222+4.679 * -0.202217-0.327 * 1.2247
=-3.63

* 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 (Jun24) TTM:Last Year (Jun23) TTM:
Total Receivables was $3.5 Mil.
Revenue was 43.236 + 41.601 + 43.325 + 46.747 = $174.9 Mil.
Gross Profit was 19.044 + 17.934 + 7.034 + 21.438 = $65.5 Mil.
Total Current Assets was $46.3 Mil.
Total Assets was $339.6 Mil.
Property, Plant and Equipment(Net PPE) was $64.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $22.2 Mil.
Selling, General, & Admin. Expense(SGA) was $76.4 Mil.
Total Current Liabilities was $85.3 Mil.
Long-Term Debt & Capital Lease Obligation was $163.5 Mil.
Net Income was -13.937 + -16.053 + -29.365 + -0.322 = $-59.7 Mil.
Non Operating Income was 1.263 + -1.052 + -2.318 + 4.516 = $2.4 Mil.
Cash Flow from Operations was -0.109 + -3.7 + 3.452 + 6.946 = $6.6 Mil.
 Total Receivables was $6.2 Mil.
Revenue was 42.375 + 40.001 + 40.147 + 43.191 = $165.7 Mil.
Gross Profit was 24.519 + 23.033 + 21.719 + 22.476 = $91.7 Mil.
Total Current Assets was $66.5 Mil.
Total Assets was $369.0 Mil.
Property, Plant and Equipment(Net PPE) was $54.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $19.9 Mil.
Selling, General, & Admin. Expense(SGA) was $64.5 Mil.
Total Current Liabilities was $49.8 Mil.
Long-Term Debt & Capital Lease Obligation was $171.0 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)
=(3.529 / 174.909) / (6.18 / 165.714)
=0.020176 / 0.037293
=0.541

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)
=(91.747 / 165.714) / (65.45 / 174.909)
=0.553647 / 0.374195
=1.4796

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 - (46.264 + 64.392) / 339.611) / (1 - (66.532 + 54.342) / 368.959)
=0.674168 / 0.672392
=1.0026

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
=174.909 / 165.714
=1.0555

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))
=(19.932 / (19.932 + 54.342)) / (22.181 / (22.181 + 64.392))
=0.268358 / 0.256212
=1.0474

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)
=(76.419 / 174.909) / (64.518 / 165.714)
=0.436907 / 0.389333
=1.1222

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)
=((163.519 + 85.304) / 339.611) / ((170.958 + 49.771) / 368.959)
=0.732671 / 0.598248
=1.2247

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
=(-59.677 - 2.409 - 6.589) / 339.611
=-0.202217

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.

Medicine Man Technologies has a M-score of -3.63 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 0.00 mean?
Medicine Man Technologies (SHWZ) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Medicine Man Technologies and its competitors.
Is Medicine Man Technologies' Beneish M-Score too high?
Medicine Man Technologies' current Beneish M-Score is 0.00. Overall, Medicine Man Technologies has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Medicine Man Technologies' Beneish M-Score compare to HEWA and RDGT?
Medicine Man Technologies' Beneish M-Score of 0.00 can be compared against companies in the Healthcare Providers & Services 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 Medicine Man Technologies and its competitors. Medicine Man Technologies'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 Medicine Man Technologies stock overvalued right now?
Medicine Man Technologies (SHWZ) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Medicine Man Technologies' overall GF Score™ is 12/100. 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 Medicine Man Technologies (SHWZ), the current Beneish M-Score is 0.00 as of Jun. 24, 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.

Medicine Man Technologies Business Description

Address 865 N. Albion Street, Suite 300, Denver, CO, USA, 80220
Medicine Man Technologies Inc is a vertically integrated multi-state cannabis operator focused on growth through expansion into existing and new markets. The Company's business involves the cultivation, manufacturing, distribution, and retail sale of cannabis and cannabis-related products. The Company sells products it manufactures and cultivates and a variety of other cannabis goods through wholly-owned retail stores, licensing arrangements, and/or third-party operators and retailers. Its operations are organized into three different segments: Retail, consisting of retail locations for sale of cannabis products; Wholesale, consisting of manufacturing, cultivation, and sale of both wholesale cannabis and non-cannabis products; and Other, consisting of all other income and expenses.
12GF 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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