TME Pharma NV (XPAR:ALTME) Beneish M-Score: 0.00 (As of Jul. 11, 2026)


What is TME Pharma NV Beneish M-Score?

TME Pharma NV XPAR:ALTME -3.45% Beneish M-Score is 0.00 as of Jul. 11, 2026. The stock has 4 warning signs investors should review. Among 823 Biotechnology companies, TME Pharma NV ranks worse than 121506.56% 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.

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

During the past 12 years, the highest Beneish M-Score of TME Pharma NV was 10.66. The lowest was 10.66. And the median was 10.66.

TME Pharma NV Beneish M-Score Historical Data

* Premium members only.

The historical data trend for TME Pharma NV'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.

TME Pharma NV Beneish M-Score Chart

TME Pharma NV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

TME Pharma NV 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 0.00 0.00 0.00 0.00

XPAR:ALTME vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, TME Pharma NV'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.

TME Pharma NV Beneish M-Score vs Biotechnology Industry

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

* The bar in red indicates where TME Pharma NV's Beneish M-Score falls into.


TME Pharma NV 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 TME Pharma NV 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €0.00 Mil.
Revenue was €0.00 Mil.
Gross Profit was €0.00 Mil.
Total Current Assets was €2.12 Mil.
Total Assets was €2.14 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.01 Mil.
Selling, General, & Admin. Expense(SGA) was €1.05 Mil.
Total Current Liabilities was €3.72 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-3.29 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-3.42 Mil.
 Total Receivables was €0.00 Mil.
Revenue was €0.00 Mil.
Gross Profit was €0.00 Mil.
Total Current Assets was €3.36 Mil.
Total Assets was €3.41 Mil.
Property, Plant and Equipment(Net PPE) was €0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.08 Mil.
Selling, General, & Admin. Expense(SGA) was €1.60 Mil.
Total Current Liabilities was €1.79 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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)
=(0.002 / 0) / (0 / 0)
= /
=

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 / 0) / (0 / 0)
= /
=

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 - (2.122 + 0.008) / 2.139) / (1 - (3.363 + 0.035) / 3.406)
=0.004208 / 0.002349
=

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 / 0
=

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))
=(0.078 / (0.078 + 0.035)) / (0.008 / (0.008 + 0.008))
=0.690265 / 0.5
=

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)
=(1.05 / 0) / (1.601 / 0)
= /
=

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 + 3.718) / 2.139) / ((0 + 1.792) / 3.406)
=1.738195 / 0.52613
=

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
=(-3.285 - 0 - -3.423) / 2.139
=0.064516

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
TME Pharma NV (XPAR:ALTME) has a Beneish M-Score of 0.00 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on TME Pharma NV and its competitors. Over the past decade, TME Pharma NV's Beneish M-Score has ranged from 10.66 to 10.66. According to the industry distribution chart, TME Pharma NV ranks #999999 out of 823 companies in the Biotechnology industry.
Is TME Pharma NV's Beneish M-Score too high?
TME Pharma NV's current Beneish M-Score is 0.00. Over the past 10 years, this metric has ranged from a low of 10.66 to a high of 10.66. Based on the distribution chart, TME Pharma NV ranks #999999 out of 823 companies in the Biotechnology industry, which is in the bottom quartile relative to peers.
How does TME Pharma NV's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, TME Pharma NV ranks #999999 out of 823 companies for Beneish M-Score. This places TME Pharma NV in the lower half of its industry. Historically, TME Pharma NV's own Beneish M-Score has ranged from 10.66 to 10.66 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 TME Pharma NV and its competitors. TME Pharma NV'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 TME Pharma NV stock overvalued right now?
TME Pharma NV (XPAR:ALTME) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 TME Pharma NV (XPAR:ALTME), the current Beneish M-Score is 0.00 as of Jul. 11, 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.

TME Pharma NV Business Description

Other Exchanges 0N6A:Germany
Address Max-Dohrn-Strasse 8-10, Berlin, DEU, 10589
TME Pharma NV is a clinical-stage biopharmaceutical company focused on developing novel therapies for treatment of the aggressive cancers and specializing in approaches targeting the tumor microenvironment. Its enhances the effectiveness of cancer treatments including current standards of care (such as antivascular agents, chemotherapy and radiotherapy) and immune-oncology approaches (such as immune checkpoint inhibitors). The company's Spiegelmer platform has generated a proprietary pipeline of clinical-stage product candidates including its cancer drug candidate NOX-A12 and its second clinical-stage asset, NOX-E36, now planned to be developed in eye diseases. The company has one segment active in pioneering the development of a new class of proprietary therapeutics called Spiegelmers.