Akso Health Group Sponsored ADR
AHG Healthcare Medical Distribution
Akso Health Group Sponsored ADR’s revenue for fiscal 2026 (year ended March 2026) was $13.8 million, down 6.40% from fiscal 2025.
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Akso Health Group Sponsored ADR (AHG) Beneish M-score
Akso Health Group Sponsored ADR's Beneish M-score for fiscal 2026 cannot be worked out: gross margin index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2023 | −4.58 | (8.46) |
| FY2022 | 3.88 | 13.50 |
| FY2021 | −9.62 | (13.23) |
| FY2020 | 3.62 | 5.94 |
| FY2019 | −2.33 | (2.66) |
| FY2018 | 0.33 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.11 | — | 0.10 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 0.00 | — | 0.00 | |
| Sales growth index | 0.94 | — | 0.83 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 1.17 | — | −0.20 | |
| Total accruals to total assets | (0.03) | — | −0.15 | |
| Leverage index | 0.71 | — | −0.23 | |
| Beneish M-score | n/a — gross margin index cannot be worked out | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| YI 111, Inc. Sponsored ADR compare | −3.3× |
| COSM Cosmos Health Inc. compare | −3.3× |
| FOCL FocalTherics compare | −3.1× |
| ACH Accendra Health, Inc. compare | −2.9× |
| CAH Cardinal Health, Inc. compare | −2.7× |
| COR Cencora, Inc. compare | −2.5× |
| HSIC Henry Schein, Inc. compare | −2.5× |
| HKPD Cellyan Biotechnology Co., Ltd compare | −0.8× |
| AHG Akso Health Group Sponsored ADR | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI