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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 Sanyo Engineeringnstruction's Beneish M-Score or its related term are showing as below:
TSE:1960'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.18 Med: -2.38 Max: -1.89
Current: -2.99
During the past 13 years, the highest Beneish M-Score of Sanyo Engineeringnstruction was -1.89. The lowest was -3.18. And the median was -2.38.
Sanyo Engineeringnstruction Beneish M-Score Related Terms
Sanyo Engineeringnstruction Beneish M-Score Historical Data
* 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.
TSE:1960 vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Sanyo Engineeringnstruction'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.
Sanyo Engineeringnstruction Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Sanyo Engineeringnstruction's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sanyo Engineeringnstruction'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 Sanyo Engineeringnstruction 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 * 0.857
+
0.528 * 0.7673
+
0.404 * 1.1212
+
0.892 * 0.9001
+
0.115 * 0.9277
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.050625
-
0.327 * 0.9098
=
-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))
=
(783 / (783 + 8365))
/
(854 / (854 + 8402))
=
0.085592
/
0.092264
=
0.9277
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
=
(2766 - 0
-
5831)
/
60543
=
-0.050625
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.
Sanyo Engineeringnstruction has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.
Sanyo Engineeringnstruction (TSE:1960) has a Beneish M-Score of -2.99 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sanyo Engineeringnstruction and its competitors. According to the industry distribution chart, Sanyo Engineeringnstruction ranks #302 out of 1699 companies in the Construction industry, placing it in the top 17.8%.
Is Sanyo Engineeringnstruction's Beneish M-Score too high?
Sanyo Engineeringnstruction's current Beneish M-Score is -2.99. Based on the distribution chart, Sanyo Engineeringnstruction ranks #302 out of 1699 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Sanyo Engineeringnstruction has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sanyo Engineeringnstruction's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Sanyo Engineeringnstruction ranks #302 out of 1699 companies for Beneish M-Score. This places Sanyo Engineeringnstruction in the top 18% 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 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 Sanyo Engineeringnstruction and its competitors. Sanyo Engineeringnstruction'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 Sanyo Engineeringnstruction stock overvalued right now?
Based on GuruFocus' analysis, Sanyo Engineeringnstruction (TSE:1960) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,079.12, compared to a current price of 円1,470.00 — trading 36.2% above its estimated fair value. The current Beneish M-Score is -2.99. Sanyo Engineeringnstruction's overall GF Score™ is 73/100 with 6 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 Sanyo Engineeringnstruction (TSE:1960), the current Beneish M-Score is -2.99 as of Jul. 24, 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 Sanyo Engineeringnstruction (TSE:1960) Overvalued in 2026?
Based on GuruFocus' analysis, Sanyo Engineeringnstruction stock appears to be overvalued.
The current stock price of 円1,470.00 is trading 36.2% above its estimated GF Value™ of 円1,079.12.
GuruFocus considers Sanyo Engineeringnstruction to be Significantly Overvalued.
Key valuation signals for TSE:1960:
Beneish M-Score: -2.99
GF Value™: 円1,079.12 vs. price of 円1,470.00 (36.2% above fair value)
No single metric tells the full story. See the TSE:1960 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sanyo Engineering & Construction Inc. covers all aspects of mechanical, electrical, and other associated engineering services. It provides painting work, survey work, fire extinguishing facility work, production and sales of electric equipment, air conditioning, water supply, and drainage work, civil engineering work, steel structure work, and others. The company's work include Tan Son Nhat International Airport, The mall shopping center, The University of Tokyo, School of Science, Tokai Hokuriku Expressway Tsubakihara Tunnel, and others.
73GF Score
Get the complete analysis for TSE:1960
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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