NOK (NNOKF) Beneish M-Score: -2.57 (As of Jun. 26, 2026)

What is NOK Beneish M-Score?

NOK NNOKF 80 Beneish M-Score is -2.57 as of Jun. 26, 2026. GuruFocus rates NNOKF with a GF Score™ of 80/100 and a GF Value™ of $12.56. The stock has 3 warning signs investors should review. Among 1,274 Vehicles & Parts companies, NOK ranks better than 52.51% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NNOKF' s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.65 Max: -2.55
Current: -2.57

During the past 13 years, the highest Beneish M-Score of NOK was -2.55. The lowest was -3.00. And the median was -2.65.

NOK Beneish M-Score Related Terms

NOK Beneish M-Score Historical Data

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The historical data trend for NOK'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.

NOK Beneish M-Score Chart

NOK Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.57

-2.61

-2.67

-2.94

-2.57

NOK 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															-2.94	0.00	0.00	0.00	-2.57

NNOKF vs ORLY, AZO: Beneish M-Score Comparison

For the Auto Parts subindustry, NOK'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.

NOK Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, NOK's Beneish M-Score distribution charts can be found below:

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

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NOK Corp NNOKF

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NOK 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 NOK for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0492

0.528 * 0.9974

0.404 * 1.0235

0.892 * 0.9045

0.115 * 0.9761

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.022926

0.327 * 0.9941

-2.62

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $905 Mil.
Revenue was $4,654 Mil.
Gross Profit was $828 Mil.
Total Current Assets was $2,839 Mil.
Total Assets was $5,997 Mil.
Property, Plant and Equipment(Net PPE) was $1,569 Mil.
Depreciation, Depletion and Amortization(DDA) was $309 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $1,262 Mil.
Long-Term Debt & Capital Lease Obligation was $91 Mil.
Net Income was $292 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $430 Mil.

Total Receivables was $954 Mil.
Revenue was $5,145 Mil.
Gross Profit was $913 Mil.
Total Current Assets was $2,823 Mil.
Total Assets was $6,029 Mil.
Property, Plant and Equipment(Net PPE) was $1,646 Mil.
Depreciation, Depletion and Amortization(DDA) was $315 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $1,250 Mil.
Long-Term Debt & Capital Lease Obligation was $118 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)
	=	(905.316 / 4653.526)	/	(953.947 / 5144.716)
	=	0.194544	/	0.185423
	=	1.0492

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)
	=	(912.741 / 5144.716)	/	(827.727 / 4653.526)
	=	0.177413	/	0.177871
	=	0.9974

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 - (2839.087 + 1569.226) / 5997.188)	/	(1 - (2822.553 + 1645.807) / 6028.991)
	=	0.264937	/	0.258854
	=	1.0235

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
	=	4653.526	/	5144.716
	=	0.9045

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))
	=	(314.932 / (314.932 + 1645.807))	/	(309.089 / (309.089 + 1569.226))
	=	0.160619	/	0.164557
	=	0.9761

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 / 4653.526)	/	(0 / 5144.716)
	=	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)
	=	((90.52 + 1261.94) / 5997.188)	/	((118.229 + 1249.524) / 6028.991)
	=	0.225516	/	0.226863
	=	0.9941

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
	=	(292.017 - 0	-	429.511)	/	5997.188
	=	-0.022926

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.

NOK has a M-score of -2.62 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 -2.57 mean?

NOK (NNOKF) has a Beneish M-Score of -2.57 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NOK and its competitors. According to the industry distribution chart, NOK ranks #605 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 47.5%.

Is NOK's Beneish M-Score too high?

NOK's current Beneish M-Score is -2.57. Based on the distribution chart, NOK ranks #605 out of 1274 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, NOK has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.

How does NOK's Beneish M-Score compare to ORLY and AZO?

According to the Vehicles & Parts industry distribution chart, NOK ranks #605 out of 1274 companies for Beneish M-Score. This puts NOK 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 Vehicles & Parts company?

A good Beneish M-Score depends on the Vehicles & Parts 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 NOK and its competitors. NOK's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is NOK stock overvalued right now?

NOK (NNOKF) has a current Beneish M-Score of -2.57. The stock's GF Value™ is $12.56, compared to a current price of $16.25 — trading 29.4% above its estimated fair value. The current Beneish M-Score is -2.57. NOK's overall GF Score™ is 80/100 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 NOK (NNOKF), the current Beneish M-Score is -2.57 as of Jun. 26, 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 NOK (NNOKF) Overvalued in 2026?

Based on GuruFocus' analysis, NOK stock appears to be overvalued. The current stock price of $16.25 is trading 29.4% above its estimated GF Value™ of $12.56.

Key valuation signals for NNOKF:

Beneish M-Score: -2.57
GF Value™: $12.56 vs. price of $16.25 (29.4% above fair value)
GF Score™: 80/100 with 3 warning signs

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

NOK Business Description

Industry Consumer Cyclical Vehicles & Parts

Comparable Companies TSE:6923 TSE:7988 TSE:3116 TSE:6592 TSE:5110 TSE:7282 TSE:5105 TSE:6471 TSE:7220 TSE:6674 ORLY TSE:5802 AZO XKRX:012330 TSE:6902 TSE:5108 XPAR:ML SHSE:600660 XTER:KBX TSX:MG

Other Exchanges 7240:Japan

Address 3-13-12 Mita, Mita MT Building, Minato-ku, Tokyo, JPN, 108-0073

Website http://www.nok.co.jp

NOK Corp is a Japan-based company engaged in manufactures oil seals and industrial rubber products for automobiles. It manufactures seal products, industrial mechanical parts, hydraulic and pneumatic equipment, nuclear power equipment, synthetic chemicals, amongst others. The company's business segments include, Seal business, Electronic Device Product business, Roll business and Other businesses.

80GF Score

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

$16.25

Price

$12.56

GF Value

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