JEQ (Aberdeen Japan Equity Fund) Beneish M-Score: -0.55 (As of Jun. 25, 2026)


JEQ Aberdeen Japan Equity Fund Inc JEQ
22 GF Score
Price $7.93
! 4 Warning Signs
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What is Aberdeen Japan Equity Fund Beneish M-Score?

Aberdeen Japan Equity Fund JEQ 22 Beneish M-Score is -0.55 as of Jun. 25, 2026. GuruFocus rates JEQ with a GF Score™ of 22/100. The stock has 4 warning signs investors should review.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score -0.55 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Aberdeen Japan Equity Fund's Beneish M-Score or its related term are showing as below:

JEQ' s Beneish M-Score Range Over the Past 10 Years
Min: -0.55   Med: -0.55   Max: -0.55
Current: -0.55

During the past 8 years, the highest Beneish M-Score of Aberdeen Japan Equity Fund was -0.55. The lowest was -0.55. And the median was -0.55.

JEQ
22GF Score
Aberdeen Japan Equity Fund Inc JEQ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aberdeen Japan Equity Fund Beneish M-Score Calculation

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 Aberdeen Japan Equity Fund 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 * 0.4578+0.528 * 1+0.404 * 1+0.892 * 2.8614+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3092+4.679 * 0.129544-0.327 * 0.8573
=-0.55

* 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.

This Year (Oct24) TTM:Last Year (Oct23) TTM:
Total Receivables was $1.44 Mil.
Revenue was $19.55 Mil.
Gross Profit was $19.55 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $108.17 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.59 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $9.98 Mil.
Net Income was $18.93 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $4.91 Mil.
 Total Receivables was $1.10 Mil.
Revenue was $6.83 Mil.
Gross Profit was $6.83 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $93.27 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.67 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $10.04 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(1.441 / 19.552) / (1.1 / 6.833)
=0.073701 / 0.160983
=0.4578

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(6.833 / 6.833) / (19.552 / 19.552)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 0) / 108.172) / (1 - (0 + 0) / 93.27)
=1 / 1
=1

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=19.552 / 6.833
=2.8614

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=1

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0.591 / 19.552) / (0.668 / 6.833)
=0.030227 / 0.097761
=0.3092

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((9.979 + 0) / 108.172) / ((10.037 + 0) / 93.27)
=0.092251 / 0.107612
=0.8573

8. TATA = Total Accruals to Total Assets

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
=(18.926 - 0 - 4.913) / 108.172
=0.129544

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.

Aberdeen Japan Equity Fund has a M-score of -0.55 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -0.55 mean?
Aberdeen Japan Equity Fund (JEQ) has a Beneish M-Score of -0.55 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aberdeen Japan Equity Fund and its competitors.
Is Aberdeen Japan Equity Fund's Beneish M-Score too high?
Aberdeen Japan Equity Fund's current Beneish M-Score is -0.55. Overall, Aberdeen Japan Equity Fund has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Aberdeen Japan Equity Fund's Beneish M-Score compare to SAMG and NMT?
Aberdeen Japan Equity Fund's Beneish M-Score of -0.55 can be compared against companies in the Asset Management 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Aberdeen Japan Equity Fund and its competitors. Aberdeen Japan Equity Fund's current Beneish M-Score is -0.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aberdeen Japan Equity Fund stock overvalued right now?
Aberdeen Japan Equity Fund (JEQ) has a current Beneish M-Score of -0.55. The current Beneish M-Score is -0.55. Aberdeen Japan Equity Fund's overall GF Score™ is 22/100 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 Aberdeen Japan Equity Fund (JEQ), the current Beneish M-Score is -0.55 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.

Aberdeen Japan Equity Fund Business Description

Address 1900 Market Street, Suite 200, Philadelphia, PA, USA, 19103
Aberdeen Japan Equity Fund Inc is a United States-based closed-end diversified management investment company. Its investment objective is to outperform over the long term, on a total return basis (including appreciation and dividends), the Tokyo Stock Price Index ("TOPIX"). The fund seeks to achieve its investment objective by investing a majority of its assets, in equity securities of companies listed on the Tokyo Stock Exchange or listed on the over-the-counter market in Japan or listed on other stock exchanges in Japan. The portfolio of investments is spread across Consumer Discretionary, Industrials, Information Technology, Financials, and other sectors.
22GF Score

Get the complete analysis for JEQ

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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