BRIGHT MINDS BIOSCIENCES INC.

DRUG
Price: $23.11Market Cap: $228.0M

Investment snapshot

0%positive consensus
Scored 1d ago

Positive

0

BUY / PASS

Neutral / negative

2 / 14

NEUTRAL / FAIL

Median fair value

—

No comparable estimates

Models with upside

0 / 17

Positive margin of safety

Strongest signal

8 of 12 pass — Graham, Buffett, Lynch +1 more object

Key risk

No clean pass — all 16 investors flag at least one profitability criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILNot rankedFAILFAILFAILFAILFAILFAILFAILFAILFAILNEUTRALFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2024-12-31

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage67% pass✓ 11✗ 4▾

    8 of 12 pass — Graham, Buffett, Lynch +1 more object

    LT Debt vs Net Current Assets
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.02, IC: N/A
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.02
    ✓Lynch< 0.33
    Cash - Long-term Debt
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities11.32
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.02
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.02
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDA
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.02
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.0215; #762/4210 (top 18.1%)
    ✓AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 2✗ 33▾

    No clean pass — all 16 investors flag at least one profitability criterion

    Positive EPS (10 years)0/7 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)0/7 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-76.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)N/A (negative mean EPS)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-50.6%
    ✗Lynch> 15%
    EBIT / Enterprise Value
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=None, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-45.90%
    ✗PiotroskiROA > 0
    ROA Change YoY-107.17% -> -45.90% (delta: +61.27%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-30.31%, ROA=-45.90%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-50.6%
    ✗Dreman> 12%
    Margin of SafetyP/B=25.5x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-101.4% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/5 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-50.6%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-0.91%; #3394/6340 (top 53.5%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-50.61%; #4208/5226 (top 80.5%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.4057; #4815/5884 (top 81.8%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years0/5 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Valuation0% pass✓ 2✗ 26▾

    No clean pass — all 13 investors flag at least one valuation criterion

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio25.5x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=None, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    Price / Book Value per Share25.5x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-1.9%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=25.5x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share
    ✗Ackman<= 25
    Price vs. Trailing Low100% of trailing low ($23.11)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-0.91%; #3394/6340 (top 53.5%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.0180; #5145/6449 (top 79.8%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share25.51x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change+5389.3%
    ✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-72.34%; #5709/6202 (top 92.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Cash Flow0% pass✓ 1✗ 11▾

    No clean pass — all 10 investors flag at least one cash flow criterion

    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    FCF Positive and Growing
    ✗LynchPositive and growing
    Operating Cash Flow$-1.4M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-30.31%, ROA=-45.90%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF Yield
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap
    ✗Ackman>= 4%
    Price / FCF per Share
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency0/5 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
  • Growth0% pass✓ 1✗ 12▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$-0.10 (2020) -> $-0.48 (2024)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency0/5 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth
    ✗Ackman>= 5%
    Positive EPS Growth Frequency1/4 years with positive EPS growth
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Verdicts0% pass✗ 14▾

    Split decision: 14 FAIL · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)•GreenblattNot ranked✗PiotroskiFAIL (F-Score 3)✗DremanFAIL (2/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (0/5)✗AckmanFAIL (1/9)✗TempletonFAIL (3/8)✗SleepFAIL (0/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (0/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 2✗ 9▾

    6 of 8 flag DRUG's efficiency — Buffett, Greenblatt, Piotroski +3 more

    Current Ratio11.32
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)
    ✗Buffett> 10%
    ROIC - WACC
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    Current Ratio Change YoY24.26 -> 11.32
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities11.32
    ✓Dreman> 1.5
    Return on Invested Capital
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=unavailable; FY2023: ROIC=unavailable; FY2024: ROIC=unavailable
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)
    ✗SleepROIC > 12% in a majority of years

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Pharmaceutical Products
SIC Sector: Chemicals & Pharmaceuticals
Size: Micro Cap($228.0M)
Revenue: N/A
Net Income: $2.1M+62.0% YoY

Financial Snapshot

Operating Margin--
Return on Equity-50.6%
Debt / Equity0.02
Current Ratio11.32
EPS (Diluted)$-0.48
Shares Retired−1.3%

Similar Companies

MRKMerck & Co., Inc.
$364.3B
ABTABBOTT LABORATORIES
$188.0B
BMYBRISTOL MYERS SQUIBB CO
$129.7B
TECHBIO-TECHNE Corp
$11.4B

Shareholder Return

Fiscal 2024

Issued 1.3% of shares last year.

Buybacks
—
Dividends
—

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2024-12-31
FY 2023
Sources
  • 20-F · 2023-12-29
FY 2022
Sources
  • 20-F · 2022-12-29
FY 2021
Sources
  • 20-F · 2022-12-29
FY 2020
Sources
  • 20-F · 2022-12-29
Market Cap$228.0Mcurrent$9.6Mest.$63.2Mest.$21.8Mest.$96.7Mest.
Revenue----------
Operating Income----------
Net Income-$2.1M↑62%-$5.5M↑50%-$10.9M↓398%-$2.2M↓512%-$358.9K
EPS (Diluted)$-0.48↑67%$-1.47↓66%$-0.88↓18%$-0.75↓675%$-0.10
Gross Margin—————
Operating Margin—————
ROE-50.6%↑55%-111.7%↑21%-141.9%↓883%-14.4%↑78%-65.9%
Total Debt$88.1K↑62%$54.5K↓47%$102.3K$0--
Shareholders' Equity$4.1M↓16%$4.9M↓37%$7.7M↓49%$15.2M↑2692%$544.9K
Current Ratio11.32↓53%24.26↑199%8.11↓74%31.38—
Debt / Equity0.02↑93%0.01↓16%0.010.00—
Operating Cash Flow-$1.4M↑74%-$5.2M↑48%-$9.9M↓73%-$5.7M↓2563%-$215.5K
Free Cash Flow----------

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Pharmaceutical Products

DRUG vs Peers — Financial Grading

RevenueN/A
Net Income$2.1MMedian
ROE-50.6%Bottom 25%
D/E0.02Top 25%
Op. Margin—
Curr. Ratio11.32Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
Merck & Co., Inc.MRK$364.3B$147.76$65.0B$18.3B34.7%0.94—1.542/95/94/70/3F-Score 41/11
ABBOTT LABORATORIESABT$188.0B$108.52$44.3B$6.5B12.5%0.2518.2%1.583/94/92/71/3F-Score 53/11
BRISTOL MYERS SQUIBB COBMY$129.7B$63.43$48.2B$7.1B38.2%2.4419.4%1.262/91/93/71/3F-Score 85/11
BIO-TECHNE CorpTECH$11.4B$72.80$1.2B$73.4M3.8%—8.4%3.464/93/93/70/3F-Score 54/11
REPLIGEN CORPRGEN$10.7B$167.79$738.3M$48.9M2.3%0.267.5%8.373/92/93/70/3F-Score 75/11
IONIS PHARMACEUTICALS INCIONS$4.8B$29.06$943.7M$381.4M-78.0%3.60-40.4%3.833/91/91/70/3F-Score 43/11
NEOGEN CORPNEOG$2.5B$11.23$870.4M$7.9M-0.4%0.76-2.5%3.823/91/92/70/3F-Score 64/11
Pharvaris N.V.PHVS$2.4B$33.36—$206.4M-64.8%0.00——0/90/92/70/3F-Score 22/11