Daiichi Kensetsu (TSE:1799) Beneish M-Score: -2.24 (As of Jun. 26, 2026)

What is Daiichi Kensetsu Beneish M-Score?

Daiichi Kensetsu TSE:1799 +0.15% 73 Beneish M-Score is -2.24 as of Jun. 26, 2026. GuruFocus rates TSE:1799 with a GF Score™ of 73/100 and a GF Value™ of 円2,782.82 (Modestly Overvalued). Among 1,704 Construction companies, Daiichi Kensetsu ranks worse than 66.31% 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 -2.24 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:1799' s Beneish M-Score Range Over the Past 10 Years
Min: -3.17 Med: -2.41 Max: -2.01
Current: -2.24

During the past 13 years, the highest Beneish M-Score of Daiichi Kensetsu was -2.01. The lowest was -3.17. And the median was -2.41.

Daiichi Kensetsu Beneish M-Score Related Terms

Daiichi Kensetsu Beneish M-Score Historical Data

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The historical data trend for Daiichi Kensetsu'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.

Daiichi Kensetsu Beneish M-Score Chart

Daiichi Kensetsu Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-3.17

-2.04

-2.54

-2.70

-2.24

Daiichi Kensetsu Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.54	0.00	-2.70	0.00	-2.24

TSE:1799 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Daiichi Kensetsu'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.

Daiichi Kensetsu Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Daiichi Kensetsu's Beneish M-Score distribution charts can be found below:

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

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73GF Score

Daiichi Kensetsu Corp TSE:1799

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Daiichi Kensetsu 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 Daiichi Kensetsu for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9974

0.528 * 1.0424

0.404 * 1.2494

0.892 * 1.0344

0.115 * 0.9278

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1576

4.679 * 0.011187

0.327 * 0.7956

-2.24

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円30,601 Mil.
Revenue was 円60,003 Mil.
Gross Profit was 円10,949 Mil.
Total Current Assets was 円47,472 Mil.
Total Assets was 円86,339 Mil.
Property, Plant and Equipment(Net PPE) was 円21,256 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,176 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,143 Mil.
Total Current Liabilities was 円8,652 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円5,224 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円4,258 Mil.

Total Receivables was 円29,658 Mil.
Revenue was 円58,006 Mil.
Gross Profit was 円11,032 Mil.
Total Current Assets was 円48,897 Mil.
Total Assets was 円83,942 Mil.
Property, Plant and Equipment(Net PPE) was 円21,340 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,012 Mil.
Selling, General, & Admin. Expense(SGA) was 円955 Mil.
Total Current Liabilities was 円10,573 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)
	=	(30600.768 / 60003.443)	/	(29658.44 / 58005.615)
	=	0.509984	/	0.511303
	=	0.9974

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)
	=	(11032.385 / 58005.615)	/	(10948.625 / 60003.443)
	=	0.190195	/	0.182467
	=	1.0424

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 - (47472.322 + 21255.674) / 86339.041)	/	(1 - (48897.021 + 21340.495) / 83941.535)
	=	0.203975	/	0.163257
	=	1.2494

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
	=	60003.443	/	58005.615
	=	1.0344

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))
	=	(2012.071 / (2012.071 + 21340.495))	/	(2176.054 / (2176.054 + 21255.674))
	=	0.086161	/	0.092868
	=	0.9278

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)
	=	(1143.059 / 60003.443)	/	(954.596 / 58005.615)
	=	0.01905	/	0.016457
	=	1.1576

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 + 8652.496) / 86339.041)	/	((0 + 10573.417) / 83941.535)
	=	0.100215	/	0.125962
	=	0.7956

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
	=	(5223.898 - 0	-	4258.008)	/	86339.041
	=	0.011187

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.

Daiichi Kensetsu has a M-score of -2.24 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 -2.24 mean?

Daiichi Kensetsu (TSE:1799) has a Beneish M-Score of -2.24 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daiichi Kensetsu and its competitors. According to the industry distribution chart, Daiichi Kensetsu ranks #1130 out of 1704 companies in the Construction industry, placing it in the top 66.3%.

Is Daiichi Kensetsu's Beneish M-Score too high?

Daiichi Kensetsu's current Beneish M-Score is -2.24. Based on the distribution chart, Daiichi Kensetsu ranks #1130 out of 1704 companies in the Construction industry, which is below the industry midpoint. Overall, Daiichi Kensetsu has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Daiichi Kensetsu's Beneish M-Score compare to PWR and FIX?

According to the Construction industry distribution chart, Daiichi Kensetsu ranks #1130 out of 1704 companies for Beneish M-Score. This places Daiichi Kensetsu 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Daiichi Kensetsu and its competitors. Daiichi Kensetsu's current Beneish M-Score is -2.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Daiichi Kensetsu stock overvalued right now?

Based on GuruFocus' analysis, Daiichi Kensetsu (TSE:1799) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,782.82, compared to a current price of 円3,300.00 — trading 18.6% above its estimated fair value. The current Beneish M-Score is -2.24. Daiichi Kensetsu's overall GF Score™ is 73/100. 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 Daiichi Kensetsu (TSE:1799), the current Beneish M-Score is -2.24 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.

Is Daiichi Kensetsu (TSE:1799) Overvalued in 2026?

Based on GuruFocus' analysis, Daiichi Kensetsu stock appears to be overvalued. The current stock price of 円3,300.00 is trading 18.6% above its estimated GF Value™ of 円2,782.82. GuruFocus considers Daiichi Kensetsu to be Modestly Overvalued.

Key valuation signals for TSE:1799:

Beneish M-Score: -2.24
GF Value™: 円2,782.82 vs. price of 円3,300.00 (18.6% above fair value)
GF Score™: 73/100

No single metric tells the full story. See the TSE:1799 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Daiichi Kensetsu Business Description

Industry Industrials Construction

Comparable Companies TSE:5011 TSE:1921 TSE:1811 TSE:1899 TSE:3443 TSE:1898 TSE:1815 TSE:1852 TSE:9755 TSE:1822 PWR XPAR:DG FIX NSE:LT XAMS:FER XKRX:028260 XTER:HOT XMAD:ACS EME MTZ

Address 1-4-34 Yachiyo, Chuo-ku, Niigata, JPN, 950-8582

Website https://www.daiichi-kensetsu.co.jp

Daiichi Kensetsu Corp is engaged in construction and civil engineering works. The company also provides planning, designing, surveying, supervision, and consulting services for civil engineering. The company is also engaged in the manufacture, inspection, and sale of materials for civil engineering, construction, and railroad construction.

73GF Score

Get the complete analysis for TSE:1799

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

円3,300.00

Price

円2,782.82

GF Value

View TSE:1799 Analysis

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