Connect Biopharma Holdings Limited Sponsored ADR
CNTB Healthcare Biotechnology
Connect Biopharma Holdings Limited Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $64,000.00, down 99.8% from fiscal 2024. In the quarter to June 2026, revenue grew 296.6%, EPS fell 17.4%, free cash flow fell 23.5% and total debt fell 61.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Connect Biopharma Holdings Limited Sponsored ADR (CNTB) Beneish M-score
Connect Biopharma Holdings Limited Sponsored ADR's Beneish M-score for fiscal 2025 is 681.78; 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) |
|---|---|---|
| FY2025 | 681.78 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 823.66 | — | 757.77 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 8.79 | — | 3.55 | |
| Sales growth index | 0.00 | — | 0.00 | |
| Depreciation index | 0.90 | — | 0.10 | |
| SG&A index | 430.27 | — | −74.01 | |
| Total accruals to total assets | (0.08) | — | −0.36 | |
| Leverage index | 2.98 | — | −0.97 | |
| Beneish M-score | Flagged by the model | 681.78 | ||
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 |
|---|---|
| ALPS Alps Group Inc. compare | −1.6× |
| GOSS Gossamer Bio, Inc. compare | 0.7× |
| CNTB Connect Biopharma Holdings Limited Sponsored ADR | 682× |
| GUTS Fractyl Health, Inc. compare | — |
| RNTX Rein Therapeutics Inc. compare | — |
| ELOX Senesco Technologies Inc. compare | — |
| GANX Gain Therapeutics, Inc. compare | — |
| TENX Tenax Therapeutics, Inc. compare | — |
| XLO Xilio Therapeutics, 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