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Columbia WorksTSE:146A -3.46%9 Beneish M-Score is -1.00 as of Jul. 17, 2026. GuruFocus rates TSE:146A with a GF Score™ of 9/100. The stock has 8 warning signs investors should review. Among 1,682 Real Estate companies, Columbia Works ranks worse than 85.32% 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 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Columbia Works's Beneish M-Score or its related term are showing as below:
TSE:146A'
s Beneish M-Score Range Over the Past 10 Years
Min: -1 Med: -0.98 Max: -0.82
Current: -1
During the past 5 years, the highest Beneish M-Score of Columbia Works was -0.82. The lowest was -1.00. And the median was -0.98.
Columbia Works Beneish M-Score Related Terms
Columbia Works Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Columbia Works'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.
Columbia Works Beneish M-Score Competitor Comparison
For the Real Estate - Development subindustry, Columbia Works'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.
Columbia Works Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Columbia Works's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Columbia Works'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 Columbia Works 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 * 1.1421
+
0.528 * 1.1584
+
0.404 * 1.088
+
0.892 * 1.7675
+
0.115 * 0.9367
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * 0.116363
-
0.327 * 0.9625
=
-1.00
* 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))
=
(320 / (320 + 10334))
/
(387 / (387 + 11682))
=
0.030036
/
0.032066
=
0.9367
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
=
(3464 - 0
-
-4318)
/
66877
=
0.116363
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.
Columbia Works has a M-score of -1.00 signals that the company is likely to be a manipulator.
Columbia Works (TSE:146A) has a Beneish M-Score of -1.00 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Columbia Works and its competitors. According to the industry distribution chart, Columbia Works ranks #1435 out of 1682 companies in the Real Estate industry, placing it in the top 85.3%.
Is Columbia Works' Beneish M-Score too high?
Columbia Works' current Beneish M-Score is -1.00. Based on the distribution chart, Columbia Works ranks #1435 out of 1682 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Columbia Works has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Columbia Works' Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Columbia Works ranks #1435 out of 1682 companies for Beneish M-Score. This places Columbia Works 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Columbia Works and its competitors. Columbia Works's current Beneish M-Score is -1.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Columbia Works stock overvalued right now?
Columbia Works (TSE:146A) has a current Beneish M-Score of -1.00. The current Beneish M-Score is -1.00. Columbia Works' overall GF Score™ is 9/100 with 8 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 Columbia Works (TSE:146A), the current Beneish M-Score is -1.00 as of Jul. 17, 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.
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