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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 -1.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Daiichi Koutsungyo Co's Beneish M-Score or its related term are showing as below:
FSE:9035'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.85 Med: -2.46 Max: -1.92
Current: -1.92
During the past 13 years, the highest Beneish M-Score of Daiichi Koutsungyo Co was -1.92. The lowest was -2.85. And the median was -2.46.
Daiichi Koutsungyo Co Beneish M-Score Related Terms
Daiichi Koutsungyo Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Daiichi Koutsungyo Co'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.
FSE:9035 vs UNP, CSX, NSC: Beneish M-Score Comparison
For the Railroads subindustry, Daiichi Koutsungyo Co'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.
Daiichi Koutsungyo Co Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Daiichi Koutsungyo Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Daiichi Koutsungyo Co'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 Daiichi Koutsungyo Co 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 * 1.3595
+
0.528 * 1.0556
+
0.404 * 1.0272
+
0.892 * 1.1309
+
0.115 * 0.9227
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8525
+
4.679 * 0.010652
-
0.327 * 0.9852
=
-1.92
* 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))
=
(3493 / (3493 + 88036))
/
(3617 / (3617 + 83839))
=
0.038163
/
0.041358
=
0.9227
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
=
(2065 - 0
-
9)
/
193019
=
0.010652
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.
Daiichi Koutsungyo Co has a M-score of -1.92 suggests that the company is unlikely to be a manipulator.
Daiichi Koutsungyo Co (FSE:9035) has a Beneish M-Score of -1.92 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daiichi Koutsungyo Co and its competitors. According to the industry distribution chart, Daiichi Koutsungyo Co ranks #788 out of 964 companies in the Transportation industry, placing it in the top 81.7%.
Is Daiichi Koutsungyo Co's Beneish M-Score too high?
Daiichi Koutsungyo Co's current Beneish M-Score is -1.92. Based on the distribution chart, Daiichi Koutsungyo Co ranks #788 out of 964 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Daiichi Koutsungyo Co has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Daiichi Koutsungyo Co's Beneish M-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, Daiichi Koutsungyo Co ranks #788 out of 964 companies for Beneish M-Score. This places Daiichi Koutsungyo Co in the lower 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Daiichi Koutsungyo Co and its competitors. Daiichi Koutsungyo Co's current Beneish M-Score is -1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daiichi Koutsungyo Co stock overvalued right now?
Based on GuruFocus' analysis, Daiichi Koutsungyo Co (FSE:9035) is currently considered Modestly Undervalued. The stock's GF Value™ is 円863.48, compared to a current price of 円737.00 — trading 14.6% below its estimated fair value. The current Beneish M-Score is -1.92. Daiichi Koutsungyo Co's overall GF Score™ is 57/100 with 4 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 Daiichi Koutsungyo Co (FSE:9035), the current Beneish M-Score is -1.92 as of Jul. 14, 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 Daiichi Koutsungyo Co (FSE:9035) Overvalued in 2026?
Based on GuruFocus' analysis, Daiichi Koutsungyo Co stock appears to be undervalued.
The current stock price of 円737.00 is trading 14.6% below its estimated GF Value™ of 円863.48.
GuruFocus considers Daiichi Koutsungyo Co to be Modestly Undervalued.
Key valuation signals for FSE:9035:
Beneish M-Score: -1.92
GF Value™: 円863.48 vs. price of 円737.00 (14.6% below fair value)
No single metric tells the full story. See the FSE:9035 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Daiichi Koutsu Sangyo Co Ltd is engaged in the business of general passenger car transportation. The main business of the company is in six divisions: Taxi business, buses, real estate sales, real estate rental, real estate rehabilitation, and finance. The company derives its maximum revenue from the taxi business, which involves transporting passengers at the request of customers and receiving fares and charges in return.
57GF Score
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