Asahi Group HoldingsASBRF 86 Beneish M-Score is -2.63 as of Jun. 25, 2026. GuruFocus rates ASBRF with a GF Score™ of 86/100 and a GF Value™ of $13.88 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 202 Beverages - Alcoholic companies, Asahi Group Holdings ranks better than 50.99% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Asahi Group Holdings's Beneish M-Score or its related term are showing as below:
ASBRF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.57 Max: -2.17
Current: -2.63
During the past 13 years, the highest Beneish M-Score of Asahi Group Holdings was -2.17. The lowest was -3.00. And the median was -2.57.
Asahi Group Holdings Beneish M-Score Related Terms
Asahi Group Holdings Beneish M-Score Historical Data
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The historical data trend for Asahi Group Holdings's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Beverages - Brewers subindustry, Asahi Group Holdings's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Asahi Group Holdings Beneish M-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Asahi Group Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Asahi Group Holdings's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Asahi Group Holdings for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.9602
+
0.528 * 0.986
+
0.404 * 0.9969
+
0.892 * 1.0012
+
0.115 * 1.0297
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.027
+
4.679 * -0.031087
-
0.327 * 0.9688
=
-2.66
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(1062.164 / (1062.164 + 6309.848))
/
(1057.272 / (1057.272 + 6498.784))
=
0.144081
/
0.139924
=
1.0297
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(1042.988 - 0
-
2215.708)
/
37723.614
=
-0.031087
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Asahi Group Holdings has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
Asahi Group Holdings (ASBRF) has a Beneish M-Score of -2.63 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Asahi Group Holdings and its competitors. According to the industry distribution chart, Asahi Group Holdings ranks #99 out of 202 companies in the Beverages - Alcoholic industry, placing it in the top 49%.
Is Asahi Group Holdings' Beneish M-Score too high?
Asahi Group Holdings' current Beneish M-Score is -2.63. Based on the distribution chart, Asahi Group Holdings ranks #99 out of 202 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Asahi Group Holdings has a GF Score™ of 86/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Asahi Group Holdings' Beneish M-Score compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Asahi Group Holdings ranks #99 out of 202 companies for Beneish M-Score. This puts Asahi Group Holdings in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Beverages - Alcoholic company?
A good Beneish M-Score depends on the Beverages - Alcoholic industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Asahi Group Holdings and its competitors. Asahi Group Holdings's current Beneish M-Score is -2.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asahi Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Asahi Group Holdings (ASBRF) is currently considered Possible Value Trap. The stock's GF Value™ is $13.88, compared to a current price of $9.75 — trading 29.8% below its estimated fair value. The current Beneish M-Score is -2.63. Asahi Group Holdings' overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Asahi Group Holdings (ASBRF), the current Beneish M-Score is -2.63 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Asahi Group Holdings (ASBRF) Overvalued in 2026?
Based on GuruFocus' analysis, Asahi Group Holdings stock appears to be undervalued.
The current stock price of $9.75 is trading 29.8% below its estimated GF Value™ of $13.88.
GuruFocus considers Asahi Group Holdings to be Possible Value Trap.
Key valuation signals for ASBRF:
Beneish M-Score: -2.63
GF Value™: $13.88 vs. price of $9.75 (29.8% below fair value)
No single metric tells the full story. See the ASBRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asahi is the largest brewer in Japan with a nearly 40% market share, led by its Asahi Super Dry brand. It also operates a wide range of alcoholic and soft beverage products as well as packaged foods, mainly in Japan. Overseas markets accounted for over half of the company's revenue and close to 60% of operating profit, with Australia and Europe being two major markets. It acquired SABMiller's brands including Peroni and Pilsner Urquell in Western and Central Europe in 2016 and 2017 from Anheuser-Busch InBev. In Australia, Asahi holds market leaderships across beer and soft drinks segments, through its acquisitions of Schweppes Australia in 2009 and Carlton & United Breweries in 2020.
86GF Score
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