Takeda Pharmaceutical Co.
TAK Healthcare Drug Manufacturers Specialty & Generic
Takeda Pharmaceutical Co.’s revenue for fiscal 2026 (year ended March 2026) was $29.7 billion, down 1.66% from fiscal 2025. In the quarter to June 2026, revenue grew 1.71%, EPS fell 4.35%, free cash flow fell 95.6% and total debt fell 2.58%, each against the same quarter a year earlier.
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Takeda Pharmaceutical Co. (TAK) Beneish M-score
Takeda Pharmaceutical Co.'s Beneish M-score for fiscal 2026 is −2.65; 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 | −2.65 | 0.15 |
| FY2025 | −2.80 | (0.14) |
| FY2024 | −2.66 | 0.23 |
| FY2023 | −2.89 | (0.47) |
| FY2022 | −2.42 | 0.47 |
| FY2021 | −2.89 | (0.42) |
| FY2020 | −2.48 | (0.58) |
| FY2019 | −1.89 | 0.84 |
| FY2018 | −2.74 | (0.24) |
| FY2017 | −2.49 | 0.05 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.23 | — | 1.13 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 0.97 | — | 0.39 | |
| Sales growth index | 0.98 | — | 0.88 | |
| Depreciation index | 1.10 | — | 0.13 | |
| SG&A index | 1.00 | — | −0.17 | |
| Total accruals to total assets | (0.08) | — | −0.36 | |
| Leverage index | 1.02 | — | −0.33 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.65 | ||
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 |
|---|---|
| VTRS Viatris Inc. compare | −3.3× |
| ELAN Elanco Animal Health Incorporated compare | −2.7× |
| TAK Takeda Pharmaceutical Co. | −2.6× |
| NBIX Neurocrine Biosciences, Inc. compare | −2.6× |
| HLN Haleon PLC Sponsored ADR compare | −2.6× |
| RDY Dr. Reddy's Laboratories Ltd compare | −2.6× |
| ZTS Zoetis Inc. compare | −2.4× |
| TEVA Teva Pharmaceutical Industries Ltd. compare | −2.3× |
| UTHR United Therapeutics Corporation compare | −2.3× |
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