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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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sumitomo Rubber Industries's Beneish M-Score or its related term are showing as below:
FRA:108'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.69 Max: -1.71
Current: -2.69
During the past 13 years, the highest Beneish M-Score of Sumitomo Rubber Industries was -1.71. The lowest was -3.26. And the median was -2.69.
Sumitomo Rubber Industries Beneish M-Score Related Terms
Sumitomo Rubber Industries Beneish M-Score Historical Data
* 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 Auto Parts subindustry, Sumitomo Rubber Industries'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.
Sumitomo Rubber Industries Beneish M-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Sumitomo Rubber Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sumitomo Rubber Industries'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 Sumitomo Rubber Industries 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 * 0.8613
+
0.528 * 0.8315
+
0.404 * 1.2116
+
0.892 * 1.0599
+
0.115 * 1.034
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0476
+
4.679 * -0.057998
-
0.327 * 1.0344
=
-2.84
* 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))
=
(500.361 / (500.361 + 2651.335))
/
(464.914 / (464.914 + 2563.116))
=
0.158759
/
0.153537
=
1.034
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
=
(392.097 - 0
-
863.359)
/
8125.454
=
-0.057998
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.
Sumitomo Rubber Industries has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.
Sumitomo Rubber Industries (FRA:108) has a Beneish M-Score of -2.69 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sumitomo Rubber Industries and its competitors. According to the industry distribution chart, Sumitomo Rubber Industries ranks #463 out of 1271 companies in the Vehicles & Parts industry, placing it in the top 36.4%.
Is Sumitomo Rubber Industries' Beneish M-Score too high?
Sumitomo Rubber Industries' current Beneish M-Score is -2.69. Based on the distribution chart, Sumitomo Rubber Industries ranks #463 out of 1271 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Sumitomo Rubber Industries has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sumitomo Rubber Industries' Beneish M-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Sumitomo Rubber Industries ranks #463 out of 1271 companies for Beneish M-Score. This puts Sumitomo Rubber Industries 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Sumitomo Rubber Industries and its competitors. Sumitomo Rubber Industries's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sumitomo Rubber Industries stock overvalued right now?
Based on GuruFocus' analysis, Sumitomo Rubber Industries (FRA:108) is currently considered Significantly Overvalued. The stock's GF Value™ is €7.29, compared to a current price of €11.80 — trading 61.9% above its estimated fair value. The current Beneish M-Score is -2.69. Sumitomo Rubber Industries' overall GF Score™ is 69/100 with 7 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 Sumitomo Rubber Industries (FRA:108), the current Beneish M-Score is -2.69 as of Jul. 29, 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 Sumitomo Rubber Industries (FRA:108) Overvalued in 2026?
Based on GuruFocus' analysis, Sumitomo Rubber Industries stock appears to be overvalued.
The current stock price of €11.80 is trading 61.9% above its estimated GF Value™ of €7.29.
GuruFocus considers Sumitomo Rubber Industries to be Significantly Overvalued.
Key valuation signals for FRA:108:
Beneish M-Score: -2.69
GF Value™: €7.29 vs. price of €11.80 (61.9% above fair value)
No single metric tells the full story. See the FRA:108 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sumitomo Rubber Industries Ltd makes and sells rubber tires, sports equipment, and other products in three segments based on product type. The tire segment, which generates the majority of revenue, sells rubber tires for automobiles and motorcycles under the Dunlop and Falken brand names. The sports segment sells golf, tennis, and fitness equipment under the Srixon, XXIO, Cleveland, and Dunlop brand names. The industrial and other products segment sells rubber parts for printers, artificial turf for sporting use, floor coating materials, portable ramps, gloves, tubes, and valves. The majority of revenue comes from Japan than any other region.
69GF Score
Get the complete analysis for FRA:108
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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