MAHLY (Medipal Holdings) Beneish M-Score: -2.44 (As of Jun. 25, 2026)


MAHLY Medipal Holdings Corp MAHLY
78 GF Score
Price $15.37
GF Value $15.83
Valuation Fairly Valued
! 1 Warning Sign
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What is Medipal Holdings Beneish M-Score?

Medipal Holdings MAHLY 78 Beneish M-Score is -2.44 as of Jun. 25, 2026. GuruFocus rates MAHLY with a GF Score™ of 78/100 and a GF Value™ of $15.83 (Fairly Valued). The stock has 1 warning sign investors should review. Among 113 Medical Distribution companies, Medipal Holdings ranks better than 53.1% 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.

Good Sign:

Beneish M-Score -2.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MAHLY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.59   Med: -2.53   Max: -2.34
Current: -2.44

During the past 13 years, the highest Beneish M-Score of Medipal Holdings was -2.34. The lowest was -2.59. And the median was -2.53.


Medipal Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Medipal Holdings'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.

Medipal Holdings Beneish M-Score Chart

Medipal Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.57 -2.34 -2.52 -2.57 -2.44

Medipal Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.57 0.00 0.00 0.00 -2.44

MAHLY vs MCK, COR, CAH: Beneish M-Score Comparison

For the Medical Distribution subindustry, Medipal Holdings'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.


Medipal Holdings Beneish M-Score vs Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, Medipal Holdings's Beneish M-Score distribution charts can be found below:

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


MAHLY
78GF Score
Medipal Holdings Corp MAHLY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Medipal Holdings 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 Medipal Holdings 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 * 1.0165+0.528 * 1.0189+0.404 * 1.0032+0.892 * 0.9767+0.115 * 0.9595
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0131+4.679 * -0.002091-0.327 * 1.0046
=-2.49

* 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 $5,531 Mil.
Revenue was $24,057 Mil.
Gross Profit was $1,645 Mil.
Total Current Assets was $8,640 Mil.
Total Assets was $12,112 Mil.
Property, Plant and Equipment(Net PPE) was $1,650 Mil.
Depreciation, Depletion and Amortization(DDA) was $110 Mil.
Selling, General, & Admin. Expense(SGA) was $157 Mil.
Total Current Liabilities was $6,731 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Net Income was $268 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $293 Mil.
Total Receivables was $5,571 Mil.
Revenue was $24,630 Mil.
Gross Profit was $1,716 Mil.
Total Current Assets was $8,606 Mil.
Total Assets was $12,243 Mil.
Property, Plant and Equipment(Net PPE) was $1,802 Mil.
Depreciation, Depletion and Amortization(DDA) was $115 Mil.
Selling, General, & Admin. Expense(SGA) was $158 Mil.
Total Current Liabilities was $6,772 Mil.
Long-Term Debt & Capital Lease Obligation was $0 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)
=(5530.798 / 24056.523) / (5570.773 / 24630.264)
=0.229908 / 0.226176
=1.0165

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)
=(1715.833 / 24630.264) / (1644.71 / 24056.523)
=0.069664 / 0.068369
=1.0189

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 - (8640.041 + 1650.066) / 12112.234) / (1 - (8605.707 + 1801.746) / 12243.482)
=0.150437 / 0.14996
=1.0032

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
=24056.523 / 24630.264
=0.9767

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))
=(114.828 / (114.828 + 1801.746)) / (109.899 / (109.899 + 1650.066))
=0.059913 / 0.062444
=0.9595

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)
=(156.596 / 24056.523) / (158.281 / 24630.264)
=0.00651 / 0.006426
=1.0131

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 + 6730.671) / 12112.234) / ((0 + 6772.194) / 12243.482)
=0.555692 / 0.553126
=1.0046

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
=(268.044 - 0 - 293.365) / 12112.234
=-0.002091

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.

Medipal Holdings has a M-score of -2.49 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 -2.44 mean?
Medipal Holdings (MAHLY) has a Beneish M-Score of -2.44 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Medipal Holdings and its competitors. According to the industry distribution chart, Medipal Holdings ranks #53 out of 113 companies in the Medical Distribution industry, placing it in the top 46.9%.
Is Medipal Holdings' Beneish M-Score too high?
Medipal Holdings' current Beneish M-Score is -2.44. Based on the distribution chart, Medipal Holdings ranks #53 out of 113 companies in the Medical Distribution industry, which is above the industry midpoint. Overall, Medipal Holdings has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Medipal Holdings' Beneish M-Score compare to MCK and COR?
According to the Medical Distribution industry distribution chart, Medipal Holdings ranks #53 out of 113 companies for Beneish M-Score. This puts Medipal Holdings 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 Medical Distribution company?
A good Beneish M-Score depends on the Medical Distribution 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 Medipal Holdings and its competitors. Medipal Holdings's current Beneish M-Score is -2.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medipal Holdings stock overvalued right now?
Based on GuruFocus' analysis, Medipal Holdings (MAHLY) is currently considered Fairly Valued. The stock's GF Value™ is $15.83, compared to a current price of $15.37 — trading 2.9% below its estimated fair value. The current Beneish M-Score is -2.44. Medipal Holdings' overall GF Score™ is 78/100 with 1 warning sign 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 Medipal Holdings (MAHLY), the current Beneish M-Score is -2.44 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 Medipal Holdings (MAHLY) Overvalued in 2026?

Based on GuruFocus' analysis, Medipal Holdings stock appears to be undervalued. The current stock price of $15.37 is trading 2.9% below its estimated GF Value™ of $15.83. GuruFocus considers Medipal Holdings to be Fairly Valued.

Key valuation signals for MAHLY:

  • Beneish M-Score: -2.44
  • GF Value™: $15.83 vs. price of $15.37 (2.9% below fair value)
  • GF Score™: 78/100 with 1 warning sign

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


Medipal Holdings Business Description

Other Exchanges MEPDF:USA7459:Japan
Address 3-1-1 Kyobashi, Chuo-ku, Tokyo, JPN, 104-8461
Medipal Holdings Corp is engaged in the wholesale distribution of pharmaceuticals, cosmetics, daily necessities, and related products. The company operates through three reportable segments: Wholesale business of medical drugs; Cosmetics, Daily Necessities and OTC Pharmaceuticals Wholesale Business; and Wholesale of animal medicines and food processing ingredients. The Wholesale business of medical drugs segment targets hospitals, clinics, and dispensing pharmacies; the Cosmetics and OTC segment serves drug stores, home centers, convenience stores, and supermarkets; while the Wholesale of animal medicines and food processing ingredients segment supplies veterinary clinics, livestock and fisheries businesses, and food manufacturers.
78GF Score

Get the complete analysis for MAHLY

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

$15.37
Price
$15.83
GF Value