Capricor Therapeutics, Inc.
CAPR Healthcare Biotechnology
Capricor Therapeutics, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $22.3 million, down 11.5% from fiscal 2023. In the quarter to June 2026, revenue fell 7.92%, EPS fell 22.8% and free cash flow fell 72.9%, each against the same quarter a year earlier.
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Capricor Therapeutics, Inc. (CAPR) Beneish M-score
Capricor Therapeutics, Inc.'s Beneish M-score for fiscal 2024 is −2.61; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −2.61 | (9.12) |
| FY2023 | 6.51 | 5.72 |
| FY2022 | 0.79 | 4.41 |
| FY2019 | −3.62 | (0.17) |
| FY2018 | −3.46 | (6.83) |
| FY2017 | 3.38 | 7.22 |
| FY2016 | −3.85 | (0.34) |
| FY2015 | −3.50 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.13 | — | 1.04 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.23 | — | 0.09 | |
| Sales growth index | 0.88 | — | 0.79 | |
| Depreciation index | 0.79 | — | 0.09 | |
| SG&A index | 1.31 | — | −0.23 | |
| Total accruals to total assets | 0.00 | — | −0.01 | |
| Leverage index | 0.23 | — | −0.08 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.61 | ||
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 |
|---|---|
| CAPR Capricor Therapeutics, Inc. | −2.6× |
| EDIT Editas Medicine, Inc. compare | −2.5× |
| ENTX Entera Bio Ltd. compare | — |
| DMAC DiaMedica Therapeutics, Inc. compare | — |
| TECX Tectonic Therapeutic, Inc. compare | — |
| YDES YD Bio Limited compare | — |
| RZLT Rezolute, Inc. compare | — |
| PRTA Prothena Corporation plc compare | — |
| ASMB Assembly Biosciences, Inc. compare | — |
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