Gyre Therapeutics, Inc.
GYRE Healthcare Biotechnology
In the quarter to June 2026, revenue fell 2.12%, EPS was flat and free cash flow fell 130.5%, each against the same quarter a year earlier.
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Gyre Therapeutics, Inc. (GYRE) Beneish M-score
Gyre Therapeutics, Inc.'s Beneish M-score for fiscal 2025 is −2.02; 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 | −2.02 | (0.82) |
| FY2024 | −1.20 | 5.59 |
| FY2023 | −6.80 | (16.30) |
| FY2022 | 9.51 | 13.41 |
| FY2016 | −3.91 | (5.56) |
| FY2015 | 1.66 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.15 | — | 1.05 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 0.83 | — | 0.33 | |
| Sales growth index | 1.10 | — | 0.98 | |
| Depreciation index | 0.65 | — | 0.07 | |
| SG&A index | 1.06 | — | −0.18 | |
| Total accruals to total assets | 0.05 | — | 0.25 | |
| Leverage index | 0.71 | — | −0.23 | |
| Beneish M-score | Elevated | −2.02 | ||
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 |
|---|---|
| PHAR Pharming Group N.V. Sponsored ADR compare | −2.8× |
| MDXG MiMedx Group, Inc compare | −2.7× |
| OABI OmniAb, Inc. compare | −2.4× |
| GYRE Gyre Therapeutics, Inc. | −2.0× |
| DSGN Design Therapeutics, Inc. compare | — |
| PRME Prime Medicine, Inc. compare | — |
| ANNX Annexon, Inc. compare | — |
| CADL Candel Therapeutics, Inc. compare | — |
| AURA Aura 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