Indivior Pharmaceuticals Inc.
INDV Healthcare Drug Manufacturers Specialty & Generic
Indivior Pharmaceuticals Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 4.29% from fiscal 2024. In the quarter to June 2026, revenue grew 13.6%, EPS grew 580.0%, free cash flow grew 58.6% and total debt rose 49.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
Follow INDV
Indivior Pharmaceuticals Inc. (INDV) Beneish M-score
Indivior Pharmaceuticals Inc.'s Beneish M-score for fiscal 2025 is −1.52; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −1.52 | 0.88 |
| FY2024 | −2.40 | (0.54) |
| FY2023 | −1.86 | 0.70 |
| FY2022 | −2.55 | 0.08 |
| FY2021 | −2.64 | (0.28) |
| FY2020 | −2.36 | 0.36 |
| FY2019 | −2.71 | (0.26) |
| FY2018 | −2.45 | 0.56 |
| FY2017 | −3.02 | 0.79 |
| FY2016 | −3.80 | (0.94) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.85 | — | 0.78 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 1.14 | — | 0.46 | |
| Sales growth index | 1.04 | — | 0.93 | |
| Depreciation index | 1.79 | — | 0.21 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | 0.20 | — | 0.92 | |
| Leverage index | 1.06 | — | −0.35 | |
| Beneish M-score | Flagged by the model | −1.52 | ||
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 |
|---|---|
| ALKS Alkermes plc compare | −3.3× |
| KNSA Kiniksa Pharmaceuticals International, plc compare | −3.2× |
| AMRX AMNEAL PHARMACEUTICALS, INC. compare | −2.7× |
| LNTH Lantheus Holdings, Inc. compare | −2.2× |
| INDV Indivior Pharmaceuticals Inc. | −1.5× |
| HCM HUTCHMED (China) Limited Sponsored ADR compare | −1.2× |
| LQDA Liquidia Corporation compare | 6.8× |
| AMLX Amylyx Pharmaceuticals, Inc. compare | — |
| RGC Regencell Bioscience Holdings Limited 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