Cocolive (TSE:137A) Beneish M-Score: -2.41 (As of Jun. 26, 2026)


TSE:137A Cocolive Inc TSE:137A
20 GF Score
Price 円741.00
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What is Cocolive Beneish M-Score?

Cocolive TSE:137A +6.01% 20 Beneish M-Score is -2.41 as of Jun. 26, 2026. GuruFocus rates TSE:137A with a GF Score™ of 20/100. Among 2,634 Software companies, Cocolive ranks worse than 58.12% 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 -2.41 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:137A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.41   Med: -2.37   Max: -2.32
Current: -2.41

During the past 4 years, the highest Beneish M-Score of Cocolive was -2.32. The lowest was -2.41. And the median was -2.37.

Cocolive Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cocolive'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.

Cocolive Beneish M-Score Chart

Cocolive Annual Data
Trend May22 May23 May24 May25
Beneish M-Score
0.00 0.00 -2.32 -2.41

Cocolive Quarterly Data
May22 May23 Nov23 Feb24 May24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 -2.41 0.00 0.00 0.00

TSE:137A vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Cocolive'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.

Cocolive Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Cocolive's Beneish M-Score distribution charts can be found below:

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


TSE:137A
20GF Score
Cocolive Inc TSE:137A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cocolive 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 Cocolive 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 * 0.9953+0.528 * 1.0302+0.404 * 0.7587+0.892 * 1.2666+0.115 * 0.7207
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.011566-0.327 * 0.9736
=-2.41

* 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 (May25) TTM:Last Year (May24) TTM:
Total Receivables was 円136 Mil.
Revenue was 円1,302 Mil.
Gross Profit was 円739 Mil.
Total Current Assets was 円1,020 Mil.
Total Assets was 円1,058 Mil.
Property, Plant and Equipment(Net PPE) was 円0 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円168 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円209 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円221 Mil.
 Total Receivables was 円108 Mil.
Revenue was 円1,028 Mil.
Gross Profit was 円601 Mil.
Total Current Assets was 円755 Mil.
Total Assets was 円792 Mil.
Property, Plant and Equipment(Net PPE) was 円0 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円129 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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)
=(135.768 / 1301.771) / (107.698 / 1027.747)
=0.104295 / 0.10479
=0.9953

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)
=(600.967 / 1027.747) / (738.9 / 1301.771)
=0.584742 / 0.567611
=1.0302

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 - (1020.383 + 0.117) / 1057.97) / (1 - (754.824 + 0.391) / 792.194)
=0.035417 / 0.046679
=0.7587

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
=1301.771 / 1027.747
=1.2666

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))
=(0.399 / (0.399 + 0.391)) / (0.274 / (0.274 + 0.117))
=0.505063 / 0.700767
=0.7207

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 / 1301.771) / (0 / 1027.747)
=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)
=((0 + 168.279) / 1057.97) / ((0 + 129.418) / 792.194)
=0.159058 / 0.163367
=0.9736

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
=(209.17 - 0 - 221.406) / 1057.97
=-0.011566

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.

Cocolive has a M-score of -2.41 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 -2.41 mean?
Cocolive (TSE:137A) has a Beneish M-Score of -2.41 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cocolive and its competitors. According to the industry distribution chart, Cocolive ranks #1531 out of 2634 companies in the Software industry, placing it in the top 58.1%.
Is Cocolive's Beneish M-Score too high?
Cocolive's current Beneish M-Score is -2.41. Based on the distribution chart, Cocolive ranks #1531 out of 2634 companies in the Software industry, which is below the industry midpoint. Overall, Cocolive has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Cocolive's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Cocolive ranks #1531 out of 2634 companies for Beneish M-Score. This places Cocolive 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 Software company?
A good Beneish M-Score depends on the Software 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 Cocolive and its competitors. Cocolive's current Beneish M-Score is -2.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cocolive stock overvalued right now?
Cocolive (TSE:137A) has a current Beneish M-Score of -2.41. The current Beneish M-Score is -2.41. Cocolive's overall GF Score™ is 20/100. 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 Cocolive (TSE:137A), the current Beneish M-Score is -2.41 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.

Cocolive Business Description

Address TFT Awajicho Building, 1-17 Kanda-Sudacho, Chiyoda-ku, Tokyo, JPN, 101-0041
Cocolive Inc is engaged in development of marketing automation tool "KASIKA" for the real estate industry, provision to customers, and other related operations. KASIKA is a sales support tool that specializes in the housing and real estate industry, and mainly supports three areas: construction companies/house builders, sales brokerage, and condominiums.
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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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