MOH Nippon (LSE:MOH) Beneish M-Score: 12.85 (As of Jul. 24, 2026) — Near Median

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LSE:MOH MOH Nippon PLC LSE:MOH
32 GF Score
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What is MOH Nippon Beneish M-Score?

MOH Nippon LSE:MOH 32 Beneish M-Score is 12.85 as of Jul. 24, 2026, which is at its 10-year median of 12.85. GuruFocus rates LSE:MOH with a GF Score™ of 32/100. The stock has 7 warning signs investors should review. Among 953 Asset Management companies, MOH Nippon ranks worse than 95.91% 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.

Warning Sign:

Beneish M-Score 12.85 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for MOH Nippon's Beneish M-Score or its related term are showing as below:

LSE:MOH' s Beneish M-Score Range Over the Past 10 Years
Min: 12.85   Med: 12.85   Max: 12.85
Current: 12.85

During the past 4 years, the highest Beneish M-Score of MOH Nippon was 12.85. The lowest was 12.85. And the median was 12.85.

MOH Nippon Beneish M-Score Historical Data

* Premium members only.

The historical data trend for MOH Nippon'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.

MOH Nippon Beneish M-Score Chart

MOH Nippon Annual Data
Trend Apr22 Apr23 Mar24 Mar25
Beneish M-Score
0.00 0.00 0.00 12.85

MOH Nippon Semi-Annual Data
Apr22 Oct22 Apr23 Oct23 Apr24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 12.85 0.00

LSE:MOH vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, MOH Nippon'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.

MOH Nippon Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, MOH Nippon's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where MOH Nippon's Beneish M-Score falls into.


LSE:MOH
32GF Score
MOH Nippon PLC LSE:MOH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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MOH Nippon 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 MOH Nippon 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 * 13.3272+0.528 * 1.3822+0.404 * 1.4657+0.892 * 0.3568+0.115 * 1.0863
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1089+4.679 * 0.838643-0.327 * 0.2211
=12.85

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was £18.83 Mil.
Revenue was £20.82 Mil.
Gross Profit was £11.47 Mil.
Total Current Assets was £27.11 Mil.
Total Assets was £32.80 Mil.
Property, Plant and Equipment(Net PPE) was £0.44 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.33 Mil.
Selling, General, & Admin. Expense(SGA) was £11.14 Mil.
Total Current Liabilities was £3.14 Mil.
Long-Term Debt & Capital Lease Obligation was £0.16 Mil.
Net Income was £-7.62 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-35.13 Mil.
 Total Receivables was £3.96 Mil.
Revenue was £58.34 Mil.
Gross Profit was £44.44 Mil.
Total Current Assets was £47.66 Mil.
Total Assets was £53.71 Mil.
Property, Plant and Equipment(Net PPE) was £0.19 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.17 Mil.
Selling, General, & Admin. Expense(SGA) was £28.17 Mil.
Total Current Liabilities was £24.34 Mil.
Long-Term Debt & Capital Lease Obligation was £0.08 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)
=(18.831 / 20.818) / (3.96 / 58.344)
=0.904554 / 0.067873
=13.3272

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)
=(44.435 / 58.344) / (11.471 / 20.818)
=0.761604 / 0.551014
=1.3822

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 - (27.111 + 0.443) / 32.803) / (1 - (47.657 + 0.193) / 53.714)
=0.160016 / 0.109171
=1.4657

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
=20.818 / 58.344
=0.3568

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))
=(0.168 / (0.168 + 0.193)) / (0.332 / (0.332 + 0.443))
=0.465374 / 0.428387
=1.0863

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)
=(11.144 / 20.818) / (28.166 / 58.344)
=0.535306 / 0.482757
=1.1089

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)
=((0.159 + 3.138) / 32.803) / ((0.079 + 24.336) / 53.714)
=0.100509 / 0.454537
=0.2211

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
=(-7.623 - 0 - -35.133) / 32.803
=0.838643

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.

MOH Nippon has a M-score of 12.85 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 12.85 mean?
MOH Nippon (LSE:MOH) has a Beneish M-Score of 12.85 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MOH Nippon and its competitors. This is near median its historical median of 12.85. Over the past decade, MOH Nippon's Beneish M-Score has ranged from 12.85 to 12.85. According to the industry distribution chart, MOH Nippon ranks #914 out of 953 companies in the Asset Management industry, placing it in the top 95.9%.
Is MOH Nippon's Beneish M-Score too high?
MOH Nippon's current Beneish M-Score of 12.85 is near median its 10-year median of 12.85. Over the past 10 years, this metric has ranged from a low of 12.85 to a high of 12.85. Based on the distribution chart, MOH Nippon ranks #914 out of 953 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, MOH Nippon has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does MOH Nippon's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, MOH Nippon ranks #914 out of 953 companies for Beneish M-Score. This places MOH Nippon in the lower half of its industry. Historically, MOH Nippon's own Beneish M-Score has ranged from 12.85 to 12.85 over the past decade. 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 MOH Nippon and its competitors. MOH Nippon's current Beneish M-Score is 12.85, which is near median its own 10-year median of 12.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MOH Nippon stock overvalued right now?
MOH Nippon (LSE:MOH) has a current Beneish M-Score of 12.85. The current Beneish M-Score is 12.85, which is near median its 10-year median of 12.85. MOH Nippon's overall GF Score™ is 32/100 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 MOH Nippon (LSE:MOH), the current Beneish M-Score is 12.85 as of Jul. 24, 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.

MOH Nippon Business Description

Address 167-169 Great Portland Street, 5th Floor, London, GBR, W1W 5PF
MOH Nippon PLC is a real estate crowdfunding services provider based in Japan, operating through its investment platform that allows local investors to participate in fund products tied to specific real estate projects. The company manages fund products through Toshi-Souken Invest Fund (TSIF) and handles investor solicitation, management, reporting, and record-keeping. Additionally, MOH Nippon engages in direct investments and co-management of technology-driven commercial real estate developments, including projects such as cold-chain logistics facilities. The company is headquartered in London, United Kingdom, and focuses on creating shareholder value through the growth of real estate crowdfunding and property investments.
32GF Score

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

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