MONOY (MonotaRO Co) Beneish M-Score: -2.46 (As of Jun. 25, 2026)


MONOY MonotaRO Co Ltd MONOY
91 GF Score
Price $10.58
GF Value $17.55
Valuation Significantly Undervalued
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What is MonotaRO Co Beneish M-Score?

MonotaRO Co MONOY -1.95% 91 Beneish M-Score is -2.46 as of Jun. 25, 2026. GuruFocus rates MONOY with a GF Score™ of 91/100 and a GF Value™ of $17.55 (Significantly Undervalued). Among 1,087 Retail - Cyclical companies, MonotaRO Co ranks worse than 59.8% 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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MONOY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.72   Med: -2.25   Max: -1.8
Current: -2.46

During the past 13 years, the highest Beneish M-Score of MonotaRO Co was -1.80. The lowest was -2.72. And the median was -2.25.


MonotaRO Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for MonotaRO 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.

MonotaRO Co Beneish M-Score Chart

MonotaRO Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.93 -2.18 -2.72 -2.45 -2.46

MonotaRO 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 0.00 0.00 0.00 -2.46 0.00

MONOY vs AMZN, BABA, PDD: Beneish M-Score Comparison

For the Internet Retail subindustry, MonotaRO 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.


MonotaRO Co Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, MonotaRO Co's Beneish M-Score distribution charts can be found below:

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


MONOY
91GF Score
MonotaRO Co Ltd MONOY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MonotaRO 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 MonotaRO 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 * 1.0805+0.528 * 0.9819+0.404 * 0.8367+0.892 * 1.1432+0.115 * 1.2333
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.006685-0.327 * 1.3466
=-2.47

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $326 Mil.
Revenue was $2,141 Mil.
Gross Profit was $639 Mil.
Total Current Assets was $790 Mil.
Total Assets was $1,239 Mil.
Property, Plant and Equipment(Net PPE) was $352 Mil.
Depreciation, Depletion and Amortization(DDA) was $43 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $344 Mil.
Long-Term Debt & Capital Lease Obligation was $83 Mil.
Net Income was $208 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $216 Mil.
Total Receivables was $264 Mil.
Revenue was $1,873 Mil.
Gross Profit was $549 Mil.
Total Current Assets was $612 Mil.
Total Assets was $943 Mil.
Property, Plant and Equipment(Net PPE) was $243 Mil.
Depreciation, Depletion and Amortization(DDA) was $37 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $237 Mil.
Long-Term Debt & Capital Lease Obligation was $4 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)
=(325.742 / 2141.423) / (263.701 / 1873.161)
=0.152115 / 0.140779
=1.0805

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)
=(548.844 / 1873.161) / (639.041 / 2141.423)
=0.293004 / 0.298419
=0.9819

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 - (789.635 + 352.487) / 1239.413) / (1 - (611.881 + 242.533) / 942.877)
=0.078498 / 0.093822
=0.8367

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
=2141.423 / 1873.161
=1.1432

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))
=(37.448 / (37.448 + 242.533)) / (42.876 / (42.876 + 352.487))
=0.133752 / 0.108447
=1.2333

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 / 2141.423) / (0 / 1873.161)
=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)
=((83.404 + 343.508) / 1239.413) / ((4.141 + 237.046) / 942.877)
=0.344447 / 0.255799
=1.3466

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
=(208.024 - 0 - 216.31) / 1239.413
=-0.006685

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.

MonotaRO Co has a M-score of -2.47 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 -2.46 mean?
MonotaRO Co (MONOY) has a Beneish M-Score of -2.46 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MonotaRO Co and its competitors. According to the industry distribution chart, MonotaRO Co ranks #650 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 59.8%.
Is MonotaRO Co's Beneish M-Score too high?
MonotaRO Co's current Beneish M-Score is -2.46. Based on the distribution chart, MonotaRO Co ranks #650 out of 1087 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, MonotaRO Co has a GF Score™ of 91/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MonotaRO Co's Beneish M-Score compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, MonotaRO Co ranks #650 out of 1087 companies for Beneish M-Score. This places MonotaRO 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 a Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 MonotaRO Co and its competitors. MonotaRO Co's current Beneish M-Score is -2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MonotaRO Co stock overvalued right now?
Based on GuruFocus' analysis, MonotaRO Co (MONOY) is currently considered Significantly Undervalued. The stock's GF Value™ is $17.55, compared to a current price of $10.58 — trading 39.7% below its estimated fair value. The current Beneish M-Score is -2.46. MonotaRO Co's overall GF Score™ is 91/100. 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 MonotaRO Co (MONOY), the current Beneish M-Score is -2.46 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 MonotaRO Co (MONOY) Overvalued in 2026?

Based on GuruFocus' analysis, MonotaRO Co stock appears to be undervalued. The current stock price of $10.58 is trading 39.7% below its estimated GF Value™ of $17.55. GuruFocus considers MonotaRO Co to be Significantly Undervalued.

Key valuation signals for MONOY:

  • Beneish M-Score: -2.46
  • GF Value™: $17.55 vs. price of $10.58 (39.7% below fair value)
  • GF Score™: 91/100

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


MonotaRO Co Business Description

Other Exchanges 3064:Japan6XQ:Germany
Address 2-2-3 Umeda, JP Tower Osaka, 22nd Floor, Kita-ku, Osaka-shi, Osaka, JPN, 530-0001
MonotaRO Co is a Japanese e-commerce company selling industrial supply products.
91GF Score

Get the complete analysis for MONOY

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

$10.58
Price
$17.55
GF Value