Taikisha (TSE:1979) Beneish M-Score: -3.52 (As of Jun. 25, 2026)

What is Taikisha Beneish M-Score?

Taikisha TSE:1979 +1.33% 80 Beneish M-Score is -3.52 as of Jun. 25, 2026. GuruFocus rates TSE:1979 with a GF Score™ of 80/100 and a GF Value™ of 円2,690.61 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,704 Construction companies, Taikisha ranks better than 92.49% 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 -3.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:1979' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.36 Max: -1.85
Current: -3.52

During the past 13 years, the highest Beneish M-Score of Taikisha was -1.85. The lowest was -3.52. And the median was -2.36.

Taikisha Beneish M-Score Related Terms

Taikisha Beneish M-Score Historical Data

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The historical data trend for Taikisha'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.

Taikisha Beneish M-Score Chart

Taikisha Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.08

-2.37

-2.35

-1.85

-3.52

Taikisha Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-1.85	0.00	0.00	0.00	-3.52

TSE:1979 vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Taikisha'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.

Taikisha Beneish M-Score vs Construction Industry

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

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

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80GF Score

Taikisha Ltd TSE:1979

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

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Taikisha 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 Taikisha 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 * 0.7174

0.528 * 0.8437

0.404 * 1.1954

0.892 * 1.0359

0.115 * 1.0203

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1888

4.679 * -0.171208

0.327 * 0.9455

-3.52

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円112,879 Mil.
Revenue was 円286,127 Mil.
Gross Profit was 円55,259 Mil.
Total Current Assets was 円217,365 Mil.
Total Assets was 円286,820 Mil.
Property, Plant and Equipment(Net PPE) was 円13,549 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,266 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,969 Mil.
Total Current Liabilities was 円102,139 Mil.
Long-Term Debt & Capital Lease Obligation was 円35 Mil.
Net Income was 円15,594 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円64,700 Mil.

Total Receivables was 円151,900 Mil.
Revenue was 円276,212 Mil.
Gross Profit was 円45,005 Mil.
Total Current Assets was 円210,935 Mil.
Total Assets was 円268,448 Mil.
Property, Plant and Equipment(Net PPE) was 円13,742 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,353 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,599 Mil.
Total Current Liabilities was 円101,030 Mil.
Long-Term Debt & Capital Lease Obligation was 円116 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)
	=	(112879 / 286127)	/	(151900 / 276212)
	=	0.394507	/	0.54994
	=	0.7174

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)
	=	(45005 / 276212)	/	(55259 / 286127)
	=	0.162936	/	0.193128
	=	0.8437

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 - (217365 + 13549) / 286820)	/	(1 - (210935 + 13742) / 268448)
	=	0.194917	/	0.163052
	=	1.1954

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
	=	286127	/	276212
	=	1.0359

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))
	=	(2353 / (2353 + 13742))	/	(2266 / (2266 + 13549))
	=	0.146194	/	0.143282
	=	1.0203

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)
	=	(1969 / 286127)	/	(1599 / 276212)
	=	0.006882	/	0.005789
	=	1.1888

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)
	=	((35 + 102139) / 286820)	/	((116 + 101030) / 268448)
	=	0.35623	/	0.376781
	=	0.9455

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
	=	(15594 - 0	-	64700)	/	286820
	=	-0.171208

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.

Taikisha has a M-score of -3.52 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 -3.52 mean?

Taikisha (TSE:1979) has a Beneish M-Score of -3.52 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Taikisha and its competitors. According to the industry distribution chart, Taikisha ranks #128 out of 1704 companies in the Construction industry, placing it in the top 7.5%.

Is Taikisha's Beneish M-Score too high?

Taikisha's current Beneish M-Score is -3.52. Based on the distribution chart, Taikisha ranks #128 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Taikisha has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Taikisha's Beneish M-Score compare to TT and JCI?

According to the Construction industry distribution chart, Taikisha ranks #128 out of 1704 companies for Beneish M-Score. This places Taikisha in the top 8% 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 Taikisha and its competitors. Taikisha's current Beneish M-Score is -3.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Taikisha stock overvalued right now?

Based on GuruFocus' analysis, Taikisha (TSE:1979) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,690.61, compared to a current price of 円4,935.00 — trading 83.4% above its estimated fair value. The current Beneish M-Score is -3.52. Taikisha's overall GF Score™ is 80/100 with 5 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 Taikisha (TSE:1979), the current Beneish M-Score is -3.52 as of Jun. 25, 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 Taikisha (TSE:1979) Overvalued in 2026?

Based on GuruFocus' analysis, Taikisha stock appears to be overvalued. The current stock price of 円4,935.00 is trading 83.4% above its estimated GF Value™ of 円2,690.61. GuruFocus considers Taikisha to be Significantly Overvalued.

Key valuation signals for TSE:1979:

Beneish M-Score: -3.52
GF Value™: 円2,690.61 vs. price of 円4,935.00 (83.4% above fair value)
GF Score™: 80/100 with 5 warning signs

No single metric tells the full story. See the TSE:1979 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Taikisha Business Description

Industry Industrials Construction

Comparable Companies TSE:1952 TSE:6745 TSE:5930 TSE:4216 TSE:5273 TSE:5943 TSE:7943 TSE:5351 TSE:6458 TSE:5938 TT JCI CARR XPAR:SGO TSE:6367 MAIR XSWX:GEBN LII DUB:KRX MAS

Other Exchanges 75L:Germany

Address 8-17-1, Nishi-Shinjuku Shinjuku-ku, Sumitomo Fudosan Shinjuku Grand Tower, Tokyo, JPN, 160-6129

Website http://www.taikisha.co.jp

Taikisha Ltd is a Japan-based company that primarily operates through two segments. The green technology system division primarily designs, manages, and constructs heating, ventilation, and air conditioning systems for office buildings, and also industrial HVAC systems for manufacturing facilities and laboratories. Besides HVAC systems, this segment manufactures and distributes related equipment. The paint finishing system segment primarily designs, manages and constructs automobile painting plants and distributes related equipment. The company has a global presence, with Japan, North America, and Southeast Asia being its top three markets.

80GF Score

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

円4,935.00

Price

円2,690.61

GF Value

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