China Pharma Holdings, Inc.
CPHI Healthcare Drug Manufacturers Specialty & Generic
China Pharma Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.1 million, down 8.49% from fiscal 2024. In the quarter to June 2026, revenue fell 7.56%, EPS grew 75.0%, free cash flow fell 113.6% and total debt fell 2.92%, each against the same quarter a year earlier.
Follow CPHI
China Pharma Holdings, Inc. (CPHI) Beneish M-score
China Pharma Holdings, Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: gross margin index cannot be worked out.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2021 | −0.63 | 2.92 |
| FY2020 | −3.55 | 4.32 |
| FY2019 | −7.87 | (3.54) |
| FY2018 | −4.34 | 0.18 |
| FY2017 | −4.52 | (0.74) |
| FY2016 | −3.79 | (0.05) |
| FY2015 | −3.73 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.21 | — | 1.11 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 1.73 | — | 0.70 | |
| Sales growth index | 0.92 | — | 0.82 | |
| Depreciation index | 1.34 | — | 0.15 | |
| SG&A index | 1.34 | — | −0.23 | |
| Total accruals to total assets | (0.11) | — | −0.50 | |
| Leverage index | 0.55 | — | −0.18 | |
| 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 |
|---|---|
| IXHL Incannex Healthcare Inc. compare | −5.8× |
| ZYBT Zhengye Biotechnology Holding Limited compare | −3.7× |
| AYTU Aytu BioPharma, Inc. compare | −3.5× |
| RMTI Rockwell Medical, Inc. compare | −2.8× |
| UPC Universe Pharmaceuticals INC compare | −2.6× |
| TXMD TherapeuticsMD, Inc. compare | −2.5× |
| SCYX SCYNEXIS, Inc. compare | — |
| SHPH Shuttle Pharmaceuticals Holdings, Inc. compare | — |
| CPHI China Pharma Holdings, Inc. | — |
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