Lifull Co (TSE:2120) Beneish M-Score: -2.24 (As of Jun. 27, 2026)

What is Lifull Co Beneish M-Score?

Lifull Co TSE:2120 -0.53% 67 Beneish M-Score is -2.24 as of Jun. 27, 2026. GuruFocus rates TSE:2120 with a GF Score™ of 67/100 and a GF Value™ of 円185.89 (Fairly Valued). The stock has 7 warning signs investors should review. Among 532 Interactive Media companies, Lifull Co ranks worse than 72.37% 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 Lifull Co's Beneish M-Score or its related term are showing as below:

TSE:2120' s Beneish M-Score Range Over the Past 10 Years
Min: -3.73 Med: -2.65 Max: -1.94
Current: -2.24

During the past 13 years, the highest Beneish M-Score of Lifull Co was -1.94. The lowest was -3.73. And the median was -2.65.

Lifull Co Beneish M-Score Related Terms

Lifull Co Beneish M-Score Historical Data

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The historical data trend for Lifull 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.

Lifull Co Beneish M-Score Chart

Lifull Co Annual Data

Trend

Mar16

Mar17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-3.21

-2.75

-2.81

-3.73

-2.38

Lifull Co 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															-3.49	-3.44	-2.38	-2.46	-2.24

TSE:2120 vs GOOGL, META, SPOT: Beneish M-Score Comparison

For the Internet Content & Information subindustry, Lifull 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.

Lifull Co Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Lifull Co's Beneish M-Score distribution charts can be found below:

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

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67GF Score

Lifull Co Ltd TSE:2120

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

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Lifull 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 Lifull Co 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 * 0.7701

0.528 * 1.012

0.404 * 0.8953

0.892 * 1.2364

0.115 * 5.6901

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0214

4.679 * -0.05114

0.327 * 1.0692

-2.24

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円4,437 Mil.
Revenue was 7908 + 6993 + 7068 + 6768 = 円28,737 Mil.
Gross Profit was 7490 + 6587 + 6658 + 6431 = 円27,166 Mil.
Total Current Assets was 円17,572 Mil.
Total Assets was 円42,100 Mil.
Property, Plant and Equipment(Net PPE) was 円5,655 Mil.
Depreciation, Depletion and Amortization(DDA) was 円662 Mil.
Selling, General, & Admin. Expense(SGA) was 円22,848 Mil.
Total Current Liabilities was 円5,310 Mil.
Long-Term Debt & Capital Lease Obligation was 円9,032 Mil.
Net Income was 791 + 753 + 910 + 684 = 円3,138 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 1077 + 775 + 1552 + 1887 = 円5,291 Mil.

Total Receivables was 円4,660 Mil.
Revenue was 5924 + 8367 + 473 + 8479 = 円23,243 Mil.
Gross Profit was 5783 + 7795 + 756 + 7903 = 円22,237 Mil.
Total Current Assets was 円16,527 Mil.
Total Assets was 円37,436 Mil.
Property, Plant and Equipment(Net PPE) was 円2,165 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,198 Mil.
Selling, General, & Admin. Expense(SGA) was 円18,092 Mil.
Total Current Liabilities was 円5,308 Mil.
Long-Term Debt & Capital Lease Obligation was 円6,620 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)
	=	(4437 / 28737)	/	(4660 / 23243)
	=	0.1544	/	0.20049
	=	0.7701

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)
	=	(22237 / 23243)	/	(27166 / 28737)
	=	0.956718	/	0.945332
	=	1.012

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 - (17572 + 5655) / 42100)	/	(1 - (16527 + 2165) / 37436)
	=	0.44829	/	0.500695
	=	0.8953

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
	=	28737	/	23243
	=	1.2364

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))
	=	(3198 / (3198 + 2165))	/	(662 / (662 + 5655))
	=	0.596308	/	0.104797
	=	5.6901

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)
	=	(22848 / 28737)	/	(18092 / 23243)
	=	0.795073	/	0.778385
	=	1.0214

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)
	=	((9032 + 5310) / 42100)	/	((6620 + 5308) / 37436)
	=	0.340665	/	0.318624
	=	1.0692

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
	=	(3138 - 0	-	5291)	/	42100
	=	-0.05114

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.

Lifull Co 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?

Lifull Co (TSE:2120) has a Beneish M-Score of -2.24 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lifull Co and its competitors. According to the industry distribution chart, Lifull Co ranks #385 out of 532 companies in the Interactive Media industry, placing it in the top 72.4%.

Is Lifull Co's Beneish M-Score too high?

Lifull Co's current Beneish M-Score is -2.24. Based on the distribution chart, Lifull Co ranks #385 out of 532 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Lifull Co has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Lifull Co's Beneish M-Score compare to GOOGL and META?

According to the Interactive Media industry distribution chart, Lifull Co ranks #385 out of 532 companies for Beneish M-Score. This places Lifull 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 an Interactive Media company?

A good Beneish M-Score depends on the Interactive Media 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 Lifull Co and its competitors. Lifull Co'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 Lifull Co stock overvalued right now?

Based on GuruFocus' analysis, Lifull Co (TSE:2120) is currently considered Fairly Valued. The stock's GF Value™ is 円185.89, compared to a current price of 円189.00 — trading 1.7% above its estimated fair value. The current Beneish M-Score is -2.24. Lifull Co's overall GF Score™ is 67/100 with 7 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 Lifull Co (TSE:2120), the current Beneish M-Score is -2.24 as of Jun. 27, 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 Lifull Co (TSE:2120) Overvalued in 2026?

Based on GuruFocus' analysis, Lifull Co stock appears to be overvalued. The current stock price of 円189.00 is trading 1.7% above its estimated GF Value™ of 円185.89. GuruFocus considers Lifull Co to be Fairly Valued.

Key valuation signals for TSE:2120:

Beneish M-Score: -2.24
GF Value™: 円185.89 vs. price of 円189.00 (1.7% above fair value)
GF Score™: 67/100 with 7 warning signs

No single metric tells the full story. See the TSE:2120 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lifull Co Business Description

Industry Communication Services Interactive Media

Comparable Companies TSE:3989 TSE:7047 TSE:336A TSE:6037 TSE:3922 TSE:3843 TSE:3662 TSE:9467 TSE:4800 TSE:3901 GOOGL META HKSE:00700 SPOT TSE:6098 NBIS BIDU RDDT HKSE:01024 XKRX:035420

Address 1-4-4 Koujimachi, Chiyoda-ku, Tokyo, JPN, 102-0083

Website https://www.lifull.com

Lifull Co Ltd is a Japanese technology company. Its lines of business are domestic real estate information services, services for domestic real estate companies, aggregation of real estate information, portal services, and other services. Its subsidiaries are Renters Co., Trovit Search, Lifull Marketing Partners, and Lifull Co.

67GF Score

Get the complete analysis for TSE:2120

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

円189.00

Price

円185.89

GF Value

View TSE:2120 Analysis

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