China SXT Pharmaceuticals, Inc.
SXTC Healthcare Drug Manufacturers Specialty & Generic
China SXT Pharmaceuticals, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $1.1 million, down 34.6% from fiscal 2025.
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China SXT Pharmaceuticals, Inc. (SXTC) Beneish M-score
China SXT Pharmaceuticals, Inc.'s Beneish M-score for fiscal 2026 is −2.12; 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) |
|---|---|---|
| FY2026 | −2.12 | 0.35 |
| FY2025 | −2.47 | 0.22 |
| FY2024 | −2.68 | 0.73 |
| FY2023 | −3.42 | 0.06 |
| FY2022 | −3.48 | (5.38) |
| FY2021 | 1.90 | 7.00 |
| FY2020 | −5.10 | (3.11) |
| FY2019 | −1.99 | (3.38) |
| FY2018 | 1.39 | 3.22 |
| FY2017 | −1.84 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 2.67 | — | 2.46 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 0.42 | — | 0.17 | |
| Sales growth index | 0.65 | — | 0.58 | |
| Depreciation index | 0.82 | — | 0.09 | |
| SG&A index | 3.70 | — | −0.64 | |
| Total accruals to total assets | (0.06) | — | −0.29 | |
| Leverage index | 0.51 | — | −0.17 | |
| Beneish M-score | Elevated | −2.12 | ||
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 |
|---|---|
| IMCC IM Cannabis Corp. compare | −5.4× |
| PTPI Petros Pharmaceuticals, Inc. compare | −3.3× |
| SBFM Sunshine Biopharma, Inc. compare | −3.0× |
| SXTC China SXT Pharmaceuticals, Inc. | −2.1× |
| BTAIQ BioXcel Therapeutics, Inc. compare | −0.6× |
| LSDIF Lucy Scientific Discovery Inc. compare | — |
| AKAN Akanda Corp. compare | — |
| PRFX PainReform Ltd. compare | — |
| NEPTF Neptune Wellness Solutions 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