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West HoldingsTSE:1407 +1.30%77 Beneish M-Score is -2.02 as of Jul. 14, 2026. GuruFocus rates TSE:1407 with a GF Score™ of 77/100 and a GF Value™ of 円2,487.85 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 393 Utilities - Independent Power Producers companies, West Holdings ranks worse than 77.86% 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.
Good Sign:
Beneish M-Score -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for West Holdings's Beneish M-Score or its related term are showing as below:
TSE:1407'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.16 Max: -1.4
Current: -2.02
During the past 13 years, the highest Beneish M-Score of West Holdings was -1.40. The lowest was -3.08. And the median was -2.16.
West Holdings Beneish M-Score Related Terms
West Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for West 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.
West Holdings Beneish M-Score Competitor Comparison
For the Utilities - Renewable subindustry, West 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.
West Holdings Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, West Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where West Holdings's Beneish M-Score falls into.
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 West 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 * 1.2725
+
0.528 * 1.066
+
0.404 * 1.4491
+
0.892 * 0.9377
+
0.115 * 0.9521
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * 0.014097
-
0.327 * 1.0211
=
-2.02
* 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.
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.
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))
=
(2358 / (2358 + 40834))
/
(2723 / (2723 + 44766))
=
0.054593
/
0.05734
=
0.9521
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
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
=
(5357 - 0
-
3263)
/
148546
=
0.014097
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.
West Holdings has a M-score of -2.02 suggests that the company is unlikely to be a manipulator.
West Holdings (TSE:1407) has a Beneish M-Score of -2.02 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on West Holdings and its competitors. According to the industry distribution chart, West Holdings ranks #306 out of 393 companies in the Utilities - Independent Power Producers industry, placing it in the top 77.9%.
Is West Holdings' Beneish M-Score too high?
West Holdings' current Beneish M-Score is -2.02. Based on the distribution chart, West Holdings ranks #306 out of 393 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, West Holdings has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does West Holdings' Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, West Holdings ranks #306 out of 393 companies for Beneish M-Score. This places West 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 West Holdings and its competitors. West Holdings's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is West Holdings stock overvalued right now?
Based on GuruFocus' analysis, West Holdings (TSE:1407) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,487.85, compared to a current price of 円2,179.00 — trading 12.4% below its estimated fair value. The current Beneish M-Score is -2.02. West Holdings' overall GF Score™ is 77/100 with 5 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 West Holdings (TSE:1407), the current Beneish M-Score is -2.02 as of Jul. 14, 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 West Holdings (TSE:1407) Overvalued in 2026?
Based on GuruFocus' analysis, West Holdings stock appears to be undervalued.
The current stock price of 円2,179.00 is trading 12.4% below its estimated GF Value™ of 円2,487.85.
GuruFocus considers West Holdings to be Modestly Undervalued.
Key valuation signals for TSE:1407:
Beneish M-Score: -2.02
GF Value™: 円2,487.85 vs. price of 円2,179.00 (12.4% below fair value)
No single metric tells the full story. See the TSE:1407 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
West Holdings Corp is engaged in the solar power generation. The company generates solar power for municipalities, residential and industrial use. Its business activities are divided into different divisions including Stadtberg business, Solar power generation for municipalities, special high-pressure solar power generation, Industrial solar power generation, Residential solar power generation, O & M (operation and management), Sales of electricity and Esco Business. Stadtberg division provides consulting and operation support for infrastructure services centered on renewable energy. O & M division monitors the photovoltaic power plant and maintains the maximum amount of power generation. Its Esco division provides various energy-saving measures.
77GF Score
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