Hatch Work Co (TSE:148A) Beneish M-Score: -2.33 (As of Jul. 04, 2026)


TSE:148A Hatch Work Co Ltd TSE:148A
11 GF Score
Price 円1,666.00
! 2 Warning Signs
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What is Hatch Work Co Beneish M-Score?

Hatch Work Co TSE:148A -2.00% 11 Beneish M-Score is -2.33 as of Jul. 04, 2026. GuruFocus rates TSE:148A with a GF Score™ of 11/100. The stock has 2 warning signs investors should review. Among 1,021 Business Services companies, Hatch Work Co ranks worse than 66.8% 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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:148A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.33   Med: -2.14   Max: -2.13
Current: -2.33

During the past 5 years, the highest Beneish M-Score of Hatch Work Co was -2.13. The lowest was -2.33. And the median was -2.14.

Hatch Work Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hatch Work Co'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.

Hatch Work Co Beneish M-Score Chart

Hatch Work Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.13 -2.14 -2.33

Hatch Work Co Quarterly Data
Dec21 Dec22 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only -2.14 0.00 0.00 -2.33 0.00

TSE:148A vs CTAS, CPRT, ULS: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Hatch Work Co'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.

Hatch Work Co Beneish M-Score vs Business Services Industry

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

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


TSE:148A
11GF Score
Hatch Work Co Ltd TSE:148A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hatch Work Co 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 Hatch Work Co 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 * 1.0077+0.528 * 0.9845+0.404 * 1.201+0.892 * 1.1655+0.115 * 0.8702
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9976+4.679 * -0.016689-0.327 * 0.9427
=-2.33

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was 円235 Mil.
Revenue was 円2,759 Mil.
Gross Profit was 円1,631 Mil.
Total Current Assets was 円2,425 Mil.
Total Assets was 円2,885 Mil.
Property, Plant and Equipment(Net PPE) was 円52 Mil.
Depreciation, Depletion and Amortization(DDA) was 円33 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,389 Mil.
Total Current Liabilities was 円1,712 Mil.
Long-Term Debt & Capital Lease Obligation was 円116 Mil.
Net Income was 円247 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円295 Mil.
 Total Receivables was 円200 Mil.
Revenue was 円2,368 Mil.
Gross Profit was 円1,378 Mil.
Total Current Assets was 円2,103 Mil.
Total Assets was 円2,431 Mil.
Property, Plant and Equipment(Net PPE) was 円42 Mil.
Depreciation, Depletion and Amortization(DDA) was 円22 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,195 Mil.
Total Current Liabilities was 円1,420 Mil.
Long-Term Debt & Capital Lease Obligation was 円214 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)
=(235.381 / 2759.255) / (200.426 / 2367.523)
=0.085306 / 0.084656
=1.0077

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)
=(1377.761 / 2367.523) / (1630.945 / 2759.255)
=0.581942 / 0.591082
=0.9845

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 - (2425.412 + 51.588) / 2884.716) / (1 - (2102.846 + 41.692) / 2430.572)
=0.141337 / 0.117682
=1.201

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
=2759.255 / 2367.523
=1.1655

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))
=(21.638 / (21.638 + 41.692)) / (33.35 / (33.35 + 51.588))
=0.341671 / 0.392639
=0.8702

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)
=(1388.851 / 2759.255) / (1194.508 / 2367.523)
=0.503343 / 0.504539
=0.9976

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)
=((116.435 + 1712.489) / 2884.716) / ((214.146 + 1420.487) / 2430.572)
=0.634005 / 0.67253
=0.9427

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
=(246.937 - 0 - 295.08) / 2884.716
=-0.016689

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.

Hatch Work Co has a M-score of -2.33 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 -2.33 mean?
Hatch Work Co (TSE:148A) has a Beneish M-Score of -2.33 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hatch Work Co and its competitors. According to the industry distribution chart, Hatch Work Co ranks #682 out of 1021 companies in the Business Services industry, placing it in the top 66.8%.
Is Hatch Work Co's Beneish M-Score too high?
Hatch Work Co's current Beneish M-Score is -2.33. Based on the distribution chart, Hatch Work Co ranks #682 out of 1021 companies in the Business Services industry, which is below the industry midpoint. Overall, Hatch Work Co has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Hatch Work Co's Beneish M-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Hatch Work Co ranks #682 out of 1021 companies for Beneish M-Score. This places Hatch Work Co 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 Hatch Work Co and its competitors. Hatch Work Co's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hatch Work Co stock overvalued right now?
Hatch Work Co (TSE:148A) has a current Beneish M-Score of -2.33. The current Beneish M-Score is -2.33. Hatch Work Co's overall GF Score™ is 11/100 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 Hatch Work Co (TSE:148A), the current Beneish M-Score is -2.33 as of Jul. 04, 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.

Hatch Work Co Business Description

Address 1-1-1- Minami-Aoyama, Shin-Aoyama Building West Wing, 5th Floor, Minato-ku, Tokyo, JPN, 107-0062
Hatch Work Co Ltd is a Japan-based company operating digital platforms and management services for real estate and parking facilities. The company operates in two segments- Monthly Innovation Business which operates the At Parking Cloud online management system, a monthly parking lot search portal, intermediary services, and parking space-sharing solutions and Building innovation business providing commercial leasing, community office operations, and building maintenance and property management for office spaces.
11GF 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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