stockrowPTC Therapeutics, Inc.
PTCT Healthcare Biotechnology
PTC Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.7 billion, up 114.5% from fiscal 2024.
- Revenue
- +69.6%
- EPS
- −409.7%
- Free cash flow
- +90.3%
- Total debt
- +19.3%
Quarter to September 2026, against a year earlier
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PTC Therapeutics, Inc. (PTCT) Beneish M-score
PTC Therapeutics, Inc.'s Beneish M-score for fiscal 2025 is −1.48; 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 | −1.48 | 1.95 |
| FY2024 | −3.43 | 0.38 |
| FY2023 | −3.81 | (1.08) |
| FY2022 | −2.72 | (0.07) |
| FY2021 | −2.66 | 0.44 |
| FY2020 | −3.09 | 0.14 |
| FY2019 | −3.23 | (1.50) |
| FY2018 | −1.74 | (58.17) |
| FY2017 | 56.43 | 57.99 |
| FY2016 | −1.56 | 1.59 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.53 | — | 0.49 | |
| Gross margin index | 0.95 | — | 0.50 | |
| Asset quality index | 1.20 | — | 0.49 | |
| Sales growth index | 2.15 | — | 1.91 | |
| Depreciation index | 2.76 | — | 0.32 | |
| SG&A index | 0.54 | — | −0.09 | |
| Total accruals to total assets | (0.01) | — | −0.05 | |
| Leverage index | 0.65 | — | −0.21 | |
| Beneish M-score | Flagged by the model | −1.48 | ||
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 |
|---|---|
| MIRM Mirum Pharmaceuticals, Inc. compare | −2.5× |
| PTCT PTC Therapeutics, Inc. | −1.5× |
| BLTE Belite Bio, Inc. Sponsored ADR compare | — |
| CGON CG Oncology, Inc. compare | — |
| SRRK Scholar Rock Holding Corporation compare | — |
| MANE Veradermics Incorporated compare | — |
| IMVT Immunovant, Inc. compare | — |
| KOD Kodiak Sciences Inc. compare | — |
| COGT Cogent 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
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