Roivant Sciences Ltd.
ROIV Healthcare Biotechnology
In the quarter to June 2026, revenue fell 33.6%, EPS grew 21.2% and free cash flow fell 30.0%, each against the same quarter a year earlier.
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Roivant Sciences Ltd. (ROIV) Beneish M-score
Roivant Sciences Ltd.'s Beneish M-score for fiscal 2026 cannot be worked out: days’ sales in receivables index cannot be worked out.
Beneish M-score, annual
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | 1.15 | — | 0.61 | |
| Asset quality index | 1.19 | — | 0.48 | |
| Sales growth index | 0.28 | — | 0.25 | |
| Depreciation index | 2.47 | — | 0.28 | |
| SG&A index | 3.63 | — | −0.62 | |
| Total accruals to total assets | 0.06 | — | 0.29 | |
| Leverage index | 1.79 | — | −0.59 | |
| Beneish M-score | n/a — days’ sales in receivables 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 |
|---|---|
| GMAB Genmab A/S Sponsored ADR compare | −3.0× |
| RPRX Royalty Pharma PLC compare | −2.8× |
| BNTX BioNTech SE Sponsored ADR compare | −2.7× |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | −2.7× |
| EXEL Exelixis, Inc. compare | −2.6× |
| INCY Incyte Corporation compare | −2.4× |
| ALNY Alnylam Pharmaceuticals, Inc. compare | −2.0× |
| INSM Insmed, Inc. compare | −1.9× |
| ROIV Roivant Sciences Ltd. | — |
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