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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 -2.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Daisue Construction Co's Beneish M-Score or its related term are showing as below:
TSE:1814'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.41 Med: -2.34 Max: -1.76
Current: -2.99
During the past 13 years, the highest Beneish M-Score of Daisue Construction Co was -1.76. The lowest was -3.41. And the median was -2.34.
Daisue Construction Co Beneish M-Score Related Terms
Daisue Construction Co Beneish M-Score Historical Data
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The historical data trend for Daisue Construction 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.
Daisue Construction Co Beneish M-Score Competitor Comparison
For the Real Estate - Development subindustry, Daisue Construction 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.
Daisue Construction Co Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Daisue Construction Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Daisue Construction Co's Beneish M-Score falls into.
Daisue Construction 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 Daisue Construction 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 * 0.8688
+
0.528 * 0.8211
+
0.404 * 0.9138
+
0.892 * 1.1856
+
0.115 * 1.0348
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.092189
-
0.327 * 0.9915
=
-2.99
* 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))
=
(624 / (624 + 2998))
/
(469 / (469 + 2348))
=
0.172281
/
0.166489
=
1.0348
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
=
(3800 - 0
-
9299)
/
59649
=
-0.092189
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.
Daisue Construction Co has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.
Daisue Construction Co (TSE:1814) has a Beneish M-Score of -2.99 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daisue Construction Co and its competitors. According to the industry distribution chart, Daisue Construction Co ranks #270 out of 1682 companies in the Real Estate industry, placing it in the top 16.1%.
Is Daisue Construction Co's Beneish M-Score too high?
Daisue Construction Co's current Beneish M-Score is -2.99. Based on the distribution chart, Daisue Construction Co ranks #270 out of 1682 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Daisue Construction Co has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Daisue Construction Co's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Daisue Construction Co ranks #270 out of 1682 companies for Beneish M-Score. This places Daisue Construction Co in the top 16% of its industry — outperforming the majority of peers. 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 Daisue Construction Co and its competitors. Daisue Construction Co's current Beneish M-Score is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daisue Construction Co stock overvalued right now?
Based on GuruFocus' analysis, Daisue Construction Co (TSE:1814) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,456.07, compared to a current price of 円3,565.00 — trading 45.2% above its estimated fair value. The current Beneish M-Score is -2.99. Daisue Construction Co's overall GF Score™ is 72/100 with 1 warning sign 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 Daisue Construction Co (TSE:1814), the current Beneish M-Score is -2.99 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.
Is Daisue Construction Co (TSE:1814) Overvalued in 2026?
Based on GuruFocus' analysis, Daisue Construction Co stock appears to be overvalued.
The current stock price of 円3,565.00 is trading 45.2% above its estimated GF Value™ of 円2,456.07.
GuruFocus considers Daisue Construction Co to be Significantly Overvalued.
Key valuation signals for TSE:1814:
Beneish M-Score: -2.99
GF Value™: 円2,456.07 vs. price of 円3,565.00 (45.2% above fair value)
No single metric tells the full story. See the TSE:1814 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Daisue Construction Co Ltd is a comprehensive construction company catering to the needs of its clients with quality construction, technology and advice in a wide range of fields, especially condominium construction. The group is involved in many types of construction, including condominiums, offices, logistics warehouses, factories, medical facilities, and buildings for weddings etc. In addition, it also provides repairs, extensions, and renovation services, and seismic diagnosis of existing buildings. Geographically, the group operates in Japan.
72GF Score
Get the complete analysis for TSE:1814
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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