Iterum Therapeutics PLC
ITRMF Healthcare Biotechnology
In the quarter to September 2025, revenue grew 110.8%, EPS grew 33.3% and free cash flow fell 179.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Iterum Therapeutics PLC (ITRMF) Beneish M-score
Iterum Therapeutics PLC's Beneish M-score for fiscal 2019 is 22.81; 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) |
|---|---|---|
| FY2019 | 22.81 | 25.18 |
| FY2018 | −2.37 | — |
How fiscal 2019’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 36.19 | — | 33.30 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 12.18 | — | 4.92 | |
| Sales growth index | 0.04 | — | 0.04 | |
| Depreciation index | 0.88 | — | 0.10 | |
| SG&A index | 30.18 | — | −5.19 | |
| Total accruals to total assets | (0.82) | — | −3.85 | |
| Leverage index | 6.70 | — | −2.19 | |
| Beneish M-score | Flagged by the model | 22.81 | ||
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 |
|---|---|
| MLEC Moolec Science SA compare | −7.8× |
| ABPO Abpro Holdings Inc. compare | 0.0× |
| ITRMF Iterum Therapeutics PLC | 22.8× |
| NEXI NexImmune, Inc. compare | — |
| SILO Silo Pharma, Inc. compare | — |
| GNPX GENPREX compare | — |
| ARTL Artelo Biosciences, Inc. compare | — |
| CARM Carisma Therapeutics Inc. compare | — |
| TRVN Trevena, 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