THH (Tryhard Holdings) Beneish M-Score: -1.44 (As of Jul. 13, 2026)


THH Tryhard Holdings Ltd THH
15 GF Score
Price $0.28
! 2 Warning Signs
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What is Tryhard Holdings Beneish M-Score?

Tryhard Holdings THH -1.48% 15 Beneish M-Score is -1.44 as of Jul. 13, 2026. GuruFocus rates THH with a GF Score™ of 15/100. The stock has 2 warning signs investors should review. Among 1,021 Business Services companies, Tryhard Holdings ranks worse than 87.86% 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.

Warning Sign:

Beneish M-Score -1.44 higher than -1.78, which implies that the company might have manipulated its financial results.

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

THH' s Beneish M-Score Range Over the Past 10 Years
Min: -1.44   Med: -1.44   Max: -1.44
Current: -1.44

During the past 3 years, the highest Beneish M-Score of Tryhard Holdings was -1.44. The lowest was -1.44. And the median was -1.44.

Tryhard Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tryhard 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.

Tryhard Holdings Beneish M-Score Chart

Tryhard Holdings Annual Data
Trend Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 -1.44

Tryhard Holdings Semi-Annual Data
Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 -1.44 0.00

THH vs LICN, CAHO, WHLM: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Tryhard 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.

Tryhard Holdings Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Tryhard Holdings's Beneish M-Score distribution charts can be found below:

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


THH
15GF Score
Tryhard Holdings Ltd THH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Tryhard 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 Tryhard 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 * 1.5226+0.528 * 1.1395+0.404 * 1.7217+0.892 * 1.1171+0.115 * 0.9738
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1698+4.679 * 0.018404-0.327 * 0.8843
=-1.44

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was $8.21 Mil.
Revenue was $24.49 Mil.
Gross Profit was $4.85 Mil.
Total Current Assets was $8.67 Mil.
Total Assets was $25.43 Mil.
Property, Plant and Equipment(Net PPE) was $12.85 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.56 Mil.
Selling, General, & Admin. Expense(SGA) was $4.59 Mil.
Total Current Liabilities was $8.77 Mil.
Long-Term Debt & Capital Lease Obligation was $10.51 Mil.
Net Income was $0.11 Mil.
Gross Profit was $1.00 Mil.
Cash Flow from Operations was $-1.37 Mil.
 Total Receivables was $4.83 Mil.
Revenue was $21.93 Mil.
Gross Profit was $4.95 Mil.
Total Current Assets was $5.71 Mil.
Total Assets was $21.58 Mil.
Property, Plant and Equipment(Net PPE) was $13.94 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.64 Mil.
Selling, General, & Admin. Expense(SGA) was $3.51 Mil.
Total Current Liabilities was $6.23 Mil.
Long-Term Debt & Capital Lease Obligation was $12.27 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)
=(8.214 / 24.494) / (4.829 / 21.926)
=0.335347 / 0.220241
=1.5226

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)
=(4.945 / 21.926) / (4.848 / 24.494)
=0.225531 / 0.197926
=1.1395

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 - (8.67 + 12.847) / 25.429) / (1 - (5.71 + 13.939) / 21.577)
=0.15384 / 0.089354
=1.7217

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
=24.494 / 21.926
=1.1171

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))
=(1.643 / (1.643 + 13.939)) / (1.56 / (1.56 + 12.847))
=0.105442 / 0.108281
=0.9738

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)
=(4.591 / 24.494) / (3.513 / 21.926)
=0.187434 / 0.160221
=1.1698

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)
=((10.505 + 8.774) / 25.429) / ((12.272 + 6.227) / 21.577)
=0.75815 / 0.857348
=0.8843

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
=(0.105 - 1.004 - -1.367) / 25.429
=0.018404

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.

Tryhard Holdings has a M-score of -1.44 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.44 mean?
Tryhard Holdings (THH) has a Beneish M-Score of -1.44 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tryhard Holdings and its competitors. According to the industry distribution chart, Tryhard Holdings ranks #897 out of 1021 companies in the Business Services industry, placing it in the top 87.9%.
Is Tryhard Holdings' Beneish M-Score too high?
Tryhard Holdings' current Beneish M-Score is -1.44. Based on the distribution chart, Tryhard Holdings ranks #897 out of 1021 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Tryhard Holdings has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Tryhard Holdings' Beneish M-Score compare to LICN and CAHO?
According to the Business Services industry distribution chart, Tryhard Holdings ranks #897 out of 1021 companies for Beneish M-Score. This places Tryhard Holdings 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Tryhard Holdings and its competitors. Tryhard Holdings's current Beneish M-Score is -1.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tryhard Holdings stock overvalued right now?
Tryhard Holdings (THH) has a current Beneish M-Score of -1.44. The current Beneish M-Score is -1.44. Tryhard Holdings' overall GF Score™ is 15/100 with 2 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 Tryhard Holdings (THH), the current Beneish M-Score is -1.44 as of Jul. 13, 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.

Tryhard Holdings Business Description

Address 2 Chome 5-19, TryHard Building, Kyutaromachi Chuo Ward, Osaka, JPN, 541-0056
Tryhard Holdings Ltd is a Japan-based lifestyle entertainment company offering services across the entertainment and hospitality sectors. Its main businesses include event curation, consultancy and management, sub-leasing of venues, and restaurant operations. The company operates through four segments, with the majority of revenue generated from consultancy and management, which provides club planning, operations, event production, entertainer bookings, and sponsorship services. The event curation segment produces both in-house and client events; the sub-leasing segment rents venues and sub-leases them to clubs; and the restaurants segment operates themed dining outlets that complement its entertainment offerings.
15GF Score

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

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