MITEF (Mitsubishi Estate Co) Beneish M-Score: -2.63 (As of Jun. 24, 2026)


MITEF Mitsubishi Estate Co Ltd MITEF
77 GF Score
Price $25.15
GF Value $18.82
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Mitsubishi Estate Co Beneish M-Score?

Mitsubishi Estate Co MITEF 77 Beneish M-Score is -2.63 as of Jun. 24, 2026. GuruFocus rates MITEF with a GF Score™ of 77/100 and a GF Value™ of $18.82 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,681 Real Estate companies, Mitsubishi Estate Co ranks better than 67.64% 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 -2.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MITEF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.82   Med: -2.44   Max: -2.21
Current: -2.63

During the past 13 years, the highest Beneish M-Score of Mitsubishi Estate Co was -2.21. The lowest was -2.82. And the median was -2.44.

Mitsubishi Estate Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mitsubishi Estate 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.

Mitsubishi Estate Co Beneish M-Score Chart

Mitsubishi Estate Co 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 -2.44 -2.44 -2.21 -2.37 -2.63

Mitsubishi Estate Co 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 -2.37 0.00 0.00 0.00 -2.63

Mitsubishi Estate Co Beneish M-Score Competitor Comparison

For the Real Estate - Diversified subindustry, Mitsubishi Estate 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.

Mitsubishi Estate Co Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Mitsubishi Estate Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mitsubishi Estate Co's Beneish M-Score falls into.


MITEF
77GF Score
Mitsubishi Estate Co Ltd MITEF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mitsubishi Estate 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 Mitsubishi Estate 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 * 0.8646+0.528 * 1.0159+0.404 * 1.0969+0.892 * 1.0382+0.115 * 0.9988
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.033435-0.327 * 1.0231
=-2.69

* 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 $681 Mil.
Revenue was $11,004 Mil.
Gross Profit was $2,866 Mil.
Total Current Assets was $14,347 Mil.
Total Assets was $53,983 Mil.
Property, Plant and Equipment(Net PPE) was $33,271 Mil.
Depreciation, Depletion and Amortization(DDA) was $698 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $7,443 Mil.
Long-Term Debt & Capital Lease Obligation was $19,071 Mil.
Net Income was $1,402 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $3,207 Mil.
 Total Receivables was $758 Mil.
Revenue was $10,599 Mil.
Gross Profit was $2,804 Mil.
Total Current Assets was $14,257 Mil.
Total Assets was $53,648 Mil.
Property, Plant and Equipment(Net PPE) was $33,624 Mil.
Depreciation, Depletion and Amortization(DDA) was $705 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $6,125 Mil.
Long-Term Debt & Capital Lease Obligation was $19,629 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)
=(680.66 / 11004.022) / (758.304 / 10598.668)
=0.061856 / 0.071547
=0.8646

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)
=(2804.05 / 10598.668) / (2865.851 / 11004.022)
=0.264566 / 0.260437
=1.0159

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 - (14347.43 + 33271.025) / 53983.497) / (1 - (14256.979 + 33623.847) / 53647.657)
=0.117907 / 0.107495
=1.0969

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
=11004.022 / 10598.668
=1.0382

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))
=(704.707 / (704.707 + 33623.847)) / (698.179 / (698.179 + 33271.025))
=0.020528 / 0.020553
=0.9988

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 / 11004.022) / (0 / 10598.668)
=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)
=((19071.222 + 7442.847) / 53983.497) / ((19629.177 + 6125.303) / 53647.657)
=0.491151 / 0.480067
=1.0231

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
=(1402.213 - 0 - 3207.136) / 53983.497
=-0.033435

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.

Mitsubishi Estate Co has a M-score of -2.69 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 -2.63 mean?
Mitsubishi Estate Co (MITEF) has a Beneish M-Score of -2.63 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mitsubishi Estate Co and its competitors. According to the industry distribution chart, Mitsubishi Estate Co ranks #544 out of 1681 companies in the Real Estate industry, placing it in the top 32.4%.
Is Mitsubishi Estate Co's Beneish M-Score too high?
Mitsubishi Estate Co's current Beneish M-Score is -2.63. Based on the distribution chart, Mitsubishi Estate Co ranks #544 out of 1681 companies in the Real Estate industry, which is above the industry midpoint. Overall, Mitsubishi Estate Co has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mitsubishi Estate Co's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Mitsubishi Estate Co ranks #544 out of 1681 companies for Beneish M-Score. This puts Mitsubishi Estate Co 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Mitsubishi Estate Co and its competitors. Mitsubishi Estate Co's current Beneish M-Score is -2.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mitsubishi Estate Co stock overvalued right now?
Based on GuruFocus' analysis, Mitsubishi Estate Co (MITEF) is currently considered Significantly Overvalued. The stock's GF Value™ is $18.82, compared to a current price of $25.15 — trading 33.6% above its estimated fair value. The current Beneish M-Score is -2.63. Mitsubishi Estate Co's overall GF Score™ is 77/100 with 3 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 Mitsubishi Estate Co (MITEF), the current Beneish M-Score is -2.63 as of Jun. 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.

Is Mitsubishi Estate Co (MITEF) Overvalued in 2026?

Based on GuruFocus' analysis, Mitsubishi Estate Co stock appears to be overvalued. The current stock price of $25.15 is trading 33.6% above its estimated GF Value™ of $18.82. GuruFocus considers Mitsubishi Estate Co to be Significantly Overvalued.

Key valuation signals for MITEF:

  • Beneish M-Score: -2.63
  • GF Value™: $18.82 vs. price of $25.15 (33.6% above fair value)
  • GF Score™: 77/100 with 3 warning signs

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

Mitsubishi Estate Co Business Description

Address 1-1, Otemachi 1-chome, Otemachi Park Building, Chiyoda-ku, Tokyo, JPN, 100-8133
Mitsubishi Estate is one of the three big Japanese real estate companies. Around two thirds of its operating profit comes from leasing office space in Japan, where half of its portfolio is concentrated in the prime Marunouchi/Otemachi district between Tokyo station and the Imperial Palace. Mitsubishi Estate's predecessor originally bought this land from the government in 1890, and the company sees itself as steward of the showcase area's long-term development, rarely if ever selling any properties there.
77GF Score

Get the complete analysis for MITEF

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

$25.15
Price
$18.82
GF Value