WGRX (Wellgistics Health) Beneish M-Score: -11.92 (As of Jul. 05, 2026)


What is Wellgistics Health Beneish M-Score?

Wellgistics Health WGRX -2.93% Beneish M-Score is -11.92 as of Jul. 05, 2026. The stock has 6 warning signs investors should review. Among 630 Healthcare Providers & Services companies, Wellgistics Health ranks better than 99.21% 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 -11.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WGRX' s Beneish M-Score Range Over the Past 10 Years
Min: -16.54   Med: -11.92   Max: -5.5
Current: -11.92

During the past 4 years, the highest Beneish M-Score of Wellgistics Health was -5.50. The lowest was -16.54. And the median was -11.92.

Wellgistics Health Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wellgistics Health'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.

Wellgistics Health Beneish M-Score Chart

Wellgistics Health Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 -16.54

Wellgistics Health Quarterly Data
Dec22 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 0.00 0.00 -5.50 -16.54 -11.92

WGRX vs HEWA, BLMH, PMHS: Beneish M-Score Comparison

For the Pharmaceutical Retailers subindustry, Wellgistics Health'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.

Wellgistics Health Beneish M-Score vs Healthcare Providers & Services Industry

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

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


Wellgistics Health 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 Wellgistics Health 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 * 0.5186+0.528 * -0.1714+0.404 * 1.2759+0.892 * 0.4841+0.115 * 0.7199
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.5115+4.679 * -1.609798-0.327 * 1.6253
=-11.92

* 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 $1.00 Mil.
Revenue was 1.56 + 1.671 + 3.013 + 7.791 = $14.04 Mil.
Gross Profit was 0.17 + -7.856 + 0.231 + 0.506 = $-6.95 Mil.
Total Current Assets was $2.76 Mil.
Total Assets was $30.13 Mil.
Property, Plant and Equipment(Net PPE) was $1.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.77 Mil.
Selling, General, & Admin. Expense(SGA) was $46.15 Mil.
Total Current Liabilities was $32.20 Mil.
Long-Term Debt & Capital Lease Obligation was $12.99 Mil.
Net Income was -7.743 + -27.853 + -34.318 + -6.672 = $-76.59 Mil.
Non Operating Income was 0.346 + -14.179 + -1.345 + 0.012 = $-15.17 Mil.
Cash Flow from Operations was -3.413 + -6.293 + -1.135 + -2.079 = $-12.92 Mil.
 Total Receivables was $3.97 Mil.
Revenue was 10.863 + 12.41 + 5.674 + 0.045 = $28.99 Mil.
Gross Profit was 0.693 + 1.249 + 0.521 + -0.003 = $2.46 Mil.
Total Current Assets was $16.55 Mil.
Total Assets was $58.06 Mil.
Property, Plant and Equipment(Net PPE) was $1.75 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.92 Mil.
Selling, General, & Admin. Expense(SGA) was $37.96 Mil.
Total Current Liabilities was $46.23 Mil.
Long-Term Debt & Capital Lease Obligation was $7.36 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)
=(0.996 / 14.035) / (3.967 / 28.992)
=0.070965 / 0.136831
=0.5186

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)
=(2.46 / 28.992) / (-6.949 / 14.035)
=0.084851 / -0.495119
=-0.1714

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 - (2.762 + 1.046) / 30.128) / (1 - (16.552 + 1.754) / 58.063)
=0.873606 / 0.684722
=1.2759

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
=14.035 / 28.992
=0.4841

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))
=(1.918 / (1.918 + 1.754)) / (2.766 / (2.766 + 1.046))
=0.522331 / 0.725603
=0.7199

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)
=(46.148 / 14.035) / (37.956 / 28.992)
=3.288066 / 1.309189
=2.5115

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)
=((12.991 + 32.199) / 30.128) / ((7.359 + 46.225) / 58.063)
=1.499934 / 0.92286
=1.6253

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
=(-76.586 - -15.166 - -12.92) / 30.128
=-1.609798

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.

Wellgistics Health has a M-score of -11.92 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 -11.92 mean?
Wellgistics Health (WGRX) has a Beneish M-Score of -11.92 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wellgistics Health and its competitors. According to the industry distribution chart, Wellgistics Health ranks #5 out of 630 companies in the Healthcare Providers & Services industry, placing it in the top 0.8%.
Is Wellgistics Health's Beneish M-Score too high?
Wellgistics Health's current Beneish M-Score is -11.92. Based on the distribution chart, Wellgistics Health ranks #5 out of 630 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers.
How does Wellgistics Health's Beneish M-Score compare to HEWA and BLMH?
According to the Healthcare Providers & Services industry distribution chart, Wellgistics Health ranks #5 out of 630 companies for Beneish M-Score. This places Wellgistics Health in the top 1% 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 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 Wellgistics Health and its competitors. Wellgistics Health's current Beneish M-Score is -11.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wellgistics Health stock overvalued right now?
Wellgistics Health (WGRX) has a current Beneish M-Score of -11.92. The current Beneish M-Score is -11.92. 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 Wellgistics Health (WGRX), the current Beneish M-Score is -11.92 as of Jul. 05, 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.

Wellgistics Health Business Description

Address 3000 Bayport Drive, Suite 950, Tampa, FL, USA, 33607
Wellgistics Health Inc is a healthcare technology and pharmaceutical logistics company. It simplifies the logistics of prescription fulfillment from the manufacturer and provider to the patient. The company seeks to be a micro health ecosystem, with a portfolio comprising a pharmacy, wholesale operations, and a technology division that provides a novel platform for hub and clinical services. It is focused on improving the lives of patients while delivering solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.