JPPIF (Japan Post Insurance Co) Beneish M-Score: -1.96 (As of Jun. 25, 2026)


JPPIF Japan Post Insurance Co Ltd JPPIF
54 GF Score
Price $6.36
GF Value $6.02
! 2 Warning Signs
View Full Analysis

What is Japan Post Insurance Co Beneish M-Score?

Japan Post Insurance Co JPPIF 54 Beneish M-Score is -1.96 as of Jun. 25, 2026. GuruFocus rates JPPIF with a GF Score™ of 54/100 and a GF Value™ of $6.02. The stock has 2 warning signs investors should review. Among 397 Insurance companies, Japan Post Insurance Co ranks worse than 85.89% on this metric.

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.

Good Sign:

Beneish M-Score -1.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Japan Post Insurance Co's Beneish M-Score or its related term are showing as below:

JPPIF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26   Med: -2.35   Max: -1.96
Current: -1.96

During the past 12 years, the highest Beneish M-Score of Japan Post Insurance Co was -1.96. The lowest was -3.26. And the median was -2.35.

JPPIF
54GF Score
Japan Post Insurance Co Ltd JPPIF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Japan Post Insurance Co 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 Japan Post Insurance 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 * 1.5764+0.528 * 1+0.404 * 1+0.892 * 0.7649+0.115 * 0.9833
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.034793-0.327 * 1.0189
=-2.00

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $174 Mil.
Revenue was $18,170 Mil.
Gross Profit was $18,170 Mil.
Total Current Assets was $0 Mil.
Total Assets was $368,296 Mil.
Property, Plant and Equipment(Net PPE) was $856 Mil.
Depreciation, Depletion and Amortization(DDA) was $242 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $3,151 Mil.
Net Income was $1,064 Mil.
Gross Profit was $128 Mil.
Cash Flow from Operations was $-11,879 Mil.
 Total Receivables was $144 Mil.
Revenue was $23,754 Mil.
Gross Profit was $23,754 Mil.
Total Current Assets was $0 Mil.
Total Assets was $399,548 Mil.
Property, Plant and Equipment(Net PPE) was $946 Mil.
Depreciation, Depletion and Amortization(DDA) was $262 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $3,354 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)
=(174.033 / 18170.336) / (144.327 / 23753.844)
=0.009578 / 0.006076
=1.5764

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)
=(23753.844 / 23753.844) / (18170.336 / 18170.336)
=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 + 855.84) / 368295.725) / (1 - (0 + 946.399) / 399548.175)
=0.997676 / 0.997631
=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
=18170.336 / 23753.844
=0.7649

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))
=(262.402 / (262.402 + 946.399)) / (242.459 / (242.459 + 855.84))
=0.217076 / 0.220759
=0.9833

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 / 18170.336) / (0 / 23753.844)
=0 / 0
=1

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)
=((3150.942 + 0) / 368295.725) / ((3354.408 + 0) / 399548.175)
=0.008555 / 0.008396
=1.0189

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
=(1063.745 - 128.073 - -11878.611) / 368295.725
=0.034793

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.

Japan Post Insurance Co has a M-score of -2.00 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.96 mean?
Japan Post Insurance Co (JPPIF) has a Beneish M-Score of -1.96 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Japan Post Insurance Co and its competitors. According to the industry distribution chart, Japan Post Insurance Co ranks #341 out of 397 companies in the Insurance industry, placing it in the top 85.9%.
Is Japan Post Insurance Co's Beneish M-Score too high?
Japan Post Insurance Co's current Beneish M-Score is -1.96. Based on the distribution chart, Japan Post Insurance Co ranks #341 out of 397 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Japan Post Insurance Co has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.
How does Japan Post Insurance Co's Beneish M-Score compare to AFL and MET?
According to the Insurance industry distribution chart, Japan Post Insurance Co ranks #341 out of 397 companies for Beneish M-Score. This places Japan Post Insurance 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Japan Post Insurance Co and its competitors. Japan Post Insurance Co's current Beneish M-Score is -1.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Post Insurance Co stock overvalued right now?
Japan Post Insurance Co (JPPIF) has a current Beneish M-Score of -1.96. The stock's GF Value™ is $6.02, compared to a current price of $6.36 — trading 5.7% above its estimated fair value. The current Beneish M-Score is -1.96. Japan Post Insurance Co's overall GF Score™ is 54/100 with 2 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 Japan Post Insurance Co (JPPIF), the current Beneish M-Score is -1.96 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 Japan Post Insurance Co (JPPIF) Overvalued in 2026?

Based on GuruFocus' analysis, Japan Post Insurance Co stock appears to be overvalued. The current stock price of $6.36 is trading 5.7% above its estimated GF Value™ of $6.02.

Key valuation signals for JPPIF:

  • Beneish M-Score: -1.96
  • GF Value™: $6.02 vs. price of $6.36 (5.7% above fair value)
  • GF Score™: 54/100 with 2 warning signs

No single metric tells the full story. See the JPPIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Japan Post Insurance Co Business Description

Address 2-3-1 Otemachi, Chiyoda-ku, Tokyo, JPN, 100-8794
Japan Post Insurance Co Ltd is a life insurance company based in Japan. It is engaged in the life insurance business and the postal life insurance management business. In addition, it provides agency and administrative services for other insurance companies, including foreign insurance companies and other financial services companies, as well as loan guarantees and other related businesses. The group has only one segment, namely, the Life Insurance Business in Japan.
54GF Score

Get the complete analysis for JPPIF

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

$6.36
Price
$6.02
GF Value