Sato (SATOF) Beneish M-Score: -2.68 (As of Jun. 24, 2026)


SATOF Sato Corp SATOF
83 GF Score
Price $14.33
GF Value $14.78
! 3 Warning Signs
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What is Sato Beneish M-Score?

Sato SATOF 83 Beneish M-Score is -2.68 as of Jun. 24, 2026. GuruFocus rates SATOF with a GF Score™ of 83/100 and a GF Value™ of $14.78. The stock has 3 warning signs investors should review. Among 2,926 Industrial Products companies, Sato ranks better than 70.71% 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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SATOF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32   Med: -2.66   Max: -2.17
Current: -2.68

During the past 13 years, the highest Beneish M-Score of Sato was -2.17. The lowest was -3.32. And the median was -2.66.

Sato Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sato'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.

Sato Beneish M-Score Chart

Sato 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 -2.38 -2.41 -2.76 -2.64 -2.68

Sato 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 -2.64 0.00 0.00 0.00 -2.68

Sato Beneish M-Score Competitor Comparison

For the Business Equipment & Supplies subindustry, Sato'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.

Sato Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Sato's Beneish M-Score distribution charts can be found below:

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


SATOF
83GF Score
Sato Corp SATOF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sato 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 Sato 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 * 0.9833+0.528 * 1.0257+0.404 * 0.9553+0.892 * 0.9917+0.115 * 0.9984
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.056284-0.327 * 0.9026
=-2.74

* 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 $208 Mil.
Revenue was $1,030 Mil.
Gross Profit was $412 Mil.
Total Current Assets was $594 Mil.
Total Assets was $917 Mil.
Property, Plant and Equipment(Net PPE) was $263 Mil.
Depreciation, Depletion and Amortization(DDA) was $38 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $243 Mil.
Long-Term Debt & Capital Lease Obligation was $93 Mil.
Net Income was $32 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $84 Mil.
 Total Receivables was $213 Mil.
Revenue was $1,039 Mil.
Gross Profit was $426 Mil.
Total Current Assets was $614 Mil.
Total Assets was $938 Mil.
Property, Plant and Equipment(Net PPE) was $260 Mil.
Depreciation, Depletion and Amortization(DDA) was $37 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $280 Mil.
Long-Term Debt & Capital Lease Obligation was $100 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)
=(208.176 / 1029.942) / (213.475 / 1038.572)
=0.202124 / 0.205547
=0.9833

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)
=(425.809 / 1038.572) / (411.708 / 1029.942)
=0.409995 / 0.399739
=1.0257

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 - (594.104 + 263.198) / 916.666) / (1 - (614.246 + 259.799) / 937.604)
=0.064761 / 0.067789
=0.9553

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
=1029.942 / 1038.572
=0.9917

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))
=(37.174 / (37.174 + 259.799)) / (37.729 / (37.729 + 263.198))
=0.125176 / 0.125376
=0.9984

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 / 1029.942) / (0 / 1038.572)
=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)
=((92.575 + 242.553) / 916.666) / ((100.189 + 279.603) / 937.604)
=0.365594 / 0.405067
=0.9026

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
=(32.051 - 0 - 83.645) / 916.666
=-0.056284

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.

Sato has a M-score of -2.74 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 -2.68 mean?
Sato (SATOF) has a Beneish M-Score of -2.68 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sato and its competitors. According to the industry distribution chart, Sato ranks #857 out of 2926 companies in the Industrial Products industry, placing it in the top 29.3%.
Is Sato's Beneish M-Score too high?
Sato's current Beneish M-Score is -2.68. Based on the distribution chart, Sato ranks #857 out of 2926 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Sato has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Sato's Beneish M-Score compare to competitors?
According to the Industrial Products industry distribution chart, Sato ranks #857 out of 2926 companies for Beneish M-Score. This puts Sato 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Sato and its competitors. Sato's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sato stock overvalued right now?
Sato (SATOF) has a current Beneish M-Score of -2.68. The stock's GF Value™ is $14.78, compared to a current price of $14.33 — trading 3% below its estimated fair value. The current Beneish M-Score is -2.68. Sato's overall GF Score™ is 83/100 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 Sato (SATOF), the current Beneish M-Score is -2.68 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 Sato (SATOF) Overvalued in 2026?

Based on GuruFocus' analysis, Sato stock appears to be undervalued. The current stock price of $14.33 is trading 3% below its estimated GF Value™ of $14.78.

Key valuation signals for SATOF:

  • Beneish M-Score: -2.68
  • GF Value™: $14.78 vs. price of $14.33 (3% below fair value)
  • GF Score™: 83/100 with 3 warning signs

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

Sato Business Description

Other Exchanges 6287:Japan
Address 1-7-1 Shimomeguro, Knowledge Plaza, Meguro-ku, Tokyo, JPN, 153-0064
Sato Corp is specializing in automatic identification (auto-ID) solutions. It designs and manufactures different products including label and RFID printers, print and apply machines, software, labels, tags, and hand labelers. These products are integrated into solutions featuring peripherals like barcode and RFID readers, aimed at streamlining workflows and enabling data capture and visualization. The company's offerings cater to various industries, providing enhanced productivity, safety, reassurance, and sustainability.
83GF Score

Get the complete analysis for SATOF

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

$14.33
Price
$14.78
GF Value