XLO (Xilio Therapeutics) Beneish M-Score: 2.32 (As of Jul. 26, 2026) — 32% Above Median

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XLO Xilio Therapeutics Inc XLO
32 GF Score
Price $8.64
! 2 Warning Signs
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What is Xilio Therapeutics Beneish M-Score?

Xilio Therapeutics XLO +1.05% 32 Beneish M-Score is 2.32 as of Jul. 26, 2026, which is 32% above its 10-year median of 1.76. GuruFocus rates XLO with a GF Score™ of 32/100. The stock has 2 warning signs investors should review. Among 826 Biotechnology companies, Xilio Therapeutics ranks worse than 89.47% 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 2.32 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XLO' s Beneish M-Score Range Over the Past 10 Years
Min: 0.82   Med: 1.76   Max: 2.32
Current: 2.32

During the past 7 years, the highest Beneish M-Score of Xilio Therapeutics was 2.32. The lowest was 0.82. And the median was 1.76.


Xilio Therapeutics Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Xilio Therapeutics'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.

Xilio Therapeutics Beneish M-Score Chart

Xilio Therapeutics Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 1.64

Xilio Therapeutics Quarterly Data
Jun21 Sep21 Dec21 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 0.00 0.82 1.87 1.64 2.32

XLO vs FLNA, BSEM, BOLD: Beneish M-Score Comparison

For the Biotechnology subindustry, Xilio Therapeutics'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.


Xilio Therapeutics Beneish M-Score vs Biotechnology Industry

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

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


XLO
32GF Score
Xilio Therapeutics Inc XLO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Xilio Therapeutics 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 Xilio Therapeutics 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 * 0.6433+0.892 * 5.7671+0.115 * 1.039
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.1796+4.679 * 0.086062-0.327 * 0.5636
=2.32

* 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 $0.00 Mil.
Revenue was 12.648 + 13.686 + 19.066 + 8.084 = $53.48 Mil.
Gross Profit was 12.648 + 13.686 + 19.066 + 8.084 = $53.48 Mil.
Total Current Assets was $154.21 Mil.
Total Assets was $163.49 Mil.
Property, Plant and Equipment(Net PPE) was $7.47 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.39 Mil.
Selling, General, & Admin. Expense(SGA) was $28.12 Mil.
Total Current Liabilities was $42.96 Mil.
Long-Term Debt & Capital Lease Obligation was $5.25 Mil.
Net Income was -9.529 + 10.36 + -16.287 + -15.844 = $-31.30 Mil.
Non Operating Income was 4.583 + 22.196 + -14.358 + -1.478 = $10.94 Mil.
Cash Flow from Operations was -22.343 + -1.998 + -17.495 + -14.477 = $-56.31 Mil.
Total Receivables was $0.00 Mil.
Revenue was 2.93 + 1.724 + 2.263 + 2.357 = $9.27 Mil.
Gross Profit was 2.93 + 1.724 + 2.263 + 2.357 = $9.27 Mil.
Total Current Assets was $93.20 Mil.
Total Assets was $103.72 Mil.
Property, Plant and Equipment(Net PPE) was $8.73 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.70 Mil.
Selling, General, & Admin. Expense(SGA) was $27.15 Mil.
Total Current Liabilities was $47.64 Mil.
Long-Term Debt & Capital Lease Obligation was $6.64 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 / 53.484) / (0 / 9.274)
=0 / 0
=1

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)
=(9.274 / 9.274) / (53.484 / 53.484)
=1 / 1
=1

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 - (154.207 + 7.467) / 163.487) / (1 - (93.2 + 8.728) / 103.716)
=0.01109 / 0.017239
=0.6433

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
=53.484 / 9.274
=5.7671

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))
=(1.698 / (1.698 + 8.728)) / (1.388 / (1.388 + 7.467))
=0.162862 / 0.156748
=1.039

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)
=(28.122 / 53.484) / (27.154 / 9.274)
=0.525802 / 2.927971
=0.1796

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)
=((5.254 + 42.96) / 163.487) / ((6.638 + 47.637) / 103.716)
=0.29491 / 0.523304
=0.5636

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
=(-31.3 - 10.943 - -56.313) / 163.487
=0.086062

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.

Xilio Therapeutics has a M-score of 2.32 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 2.32 mean?
Xilio Therapeutics (XLO) has a Beneish M-Score of 2.32 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Xilio Therapeutics and its competitors. This is 32% above median its historical median of 1.76. Over the past decade, Xilio Therapeutics' Beneish M-Score has ranged from 0.82 to 2.32. According to the industry distribution chart, Xilio Therapeutics ranks #739 out of 826 companies in the Biotechnology industry, placing it in the top 89.5%.
Is Xilio Therapeutics' Beneish M-Score too high?
Xilio Therapeutics' current Beneish M-Score of 2.32 is 32% above median its 10-year median of 1.76. Over the past 10 years, this metric has ranged from a low of 0.82 to a high of 2.32. Based on the distribution chart, Xilio Therapeutics ranks #739 out of 826 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Xilio Therapeutics has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Xilio Therapeutics' Beneish M-Score compare to FLNA and BSEM?
According to the Biotechnology industry distribution chart, Xilio Therapeutics ranks #739 out of 826 companies for Beneish M-Score. This places Xilio Therapeutics in the lower half of its industry. Historically, Xilio Therapeutics' own Beneish M-Score has ranged from 0.82 to 2.32 over the past decade. 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 Xilio Therapeutics and its competitors. Xilio Therapeutics's current Beneish M-Score is 2.32, which is 32% above median its own 10-year median of 1.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xilio Therapeutics stock overvalued right now?
Xilio Therapeutics (XLO) has a current Beneish M-Score of 2.32. The current Beneish M-Score is 2.32, which is 32% above median its 10-year median of 1.76. Xilio Therapeutics' overall GF Score™ is 32/100 with 2 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 Xilio Therapeutics (XLO), the current Beneish M-Score is 2.32 as of Jul. 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.

Xilio Therapeutics Business Description

Address 828 Winter Street, Suite 300, Waltham, MA, USA, 02451
Xilio Therapeutics Inc is a clinical-stage biotechnology company focused on discovering and developing masked immuno-oncology (I-O) therapies to improve outcomes for people living with cancer. Leveraging its clinically validated masking technology and capabilities, the company develops I-O therapies designed to selectively activate within the tumor microenvironment to achieve durable efficacy without the severe side effects associated with systemically active I-O agents. Its integrated biology and protein engineering approach enables the design and development of potent masked biologics that are activated by tumor-specific proteases.
32GF 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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