MedX Health Corp.
MDXHF Healthcare Diagnostics & Research
MedX Health Corp.’s revenue for fiscal 2025 (year ended December 2025) was $338,700.00, down 5.23% from fiscal 2024. In the quarter to June 2026, revenue grew 33.6%, EPS fell 6.06%, free cash flow grew 41.6% and total debt fell 8.75%, each against the same quarter a year earlier.
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MedX Health Corp. (MDXHF) Beneish M-score
MedX Health Corp.'s Beneish M-score for fiscal 2025 cannot be worked out: gross margin index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −14.89 | (12.03) |
| FY2023 | −2.86 | (3.50) |
| FY2022 | 0.63 | 3.39 |
| FY2021 | −2.76 | 2.09 |
| FY2020 | −4.84 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.45 | — | 0.41 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.95 | — | 0.85 | |
| Depreciation index | 3.63 | — | 0.42 | |
| SG&A index | 1.96 | — | −0.34 | |
| Total accruals to total assets | (3.65) | — | −17.06 | |
| Leverage index | 1.40 | — | −0.46 | |
| 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 |
|---|---|
| IMDX Insight Molecular Diagnostics Inc. compare | −7.7× |
| QUCY Quantum Cyber N.V compare | −6.1× |
| MDXH MDxHealth SA compare | −3.5× |
| BDSX Biodesix, Inc. compare | −3.1× |
| XGN Exagen Inc. compare | −2.8× |
| BNR Burning Rock Biotech Limited Sponsored ADR compare | −2.5× |
| PRPO Precipio, Inc. compare | −1.6× |
| MDXHF MedX Health Corp. | — |
| MBAI MBody AI Ltd. 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