Wedge Co (TSE:252A) Beneish M-Score: -2.62 (As of Jun. 27, 2026)


TSE:252A Wedge Co Ltd TSE:252A
12 GF Score
Price 円2,566.00
! 1 Warning Sign
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What is Wedge Co Beneish M-Score?

Wedge Co TSE:252A 12 Beneish M-Score is -2.62 as of Jun. 27, 2026. GuruFocus rates TSE:252A with a GF Score™ of 12/100. The stock has 1 warning sign investors should review.

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 -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:252A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.62   Med: -2.49   Max: -2.35
Current: -2.62

During the past 4 years, the highest Beneish M-Score of Wedge Co was -2.35. The lowest was -2.62. And the median was -2.49.

Wedge Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wedge 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.

Wedge Co Beneish M-Score Chart

Wedge Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.35 -2.62

Wedge Co Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.35 0.00 -2.62

TSE:252A vs : Beneish M-Score Comparison

For the Communication Equipment subindustry, Wedge 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.

Wedge Co Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Wedge Co's Beneish M-Score distribution charts can be found below:

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


TSE:252A
12GF Score
Wedge Co Ltd TSE:252A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Wedge 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 Wedge 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 * 0.88+0.528 * 1.0023+0.404 * 1.1439+0.892 * 1.0188+0.115 * 0.8029
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.02291-0.327 * 0.9241
=-2.62

* 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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was 円220 Mil.
Revenue was 円2,397 Mil.
Gross Profit was 円999 Mil.
Total Current Assets was 円1,685 Mil.
Total Assets was 円1,985 Mil.
Property, Plant and Equipment(Net PPE) was 円19 Mil.
Depreciation, Depletion and Amortization(DDA) was 円12 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円824 Mil.
Long-Term Debt & Capital Lease Obligation was 円526 Mil.
Net Income was 円52 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円97 Mil.
 Total Receivables was 円245 Mil.
Revenue was 円2,353 Mil.
Gross Profit was 円983 Mil.
Total Current Assets was 円1,878 Mil.
Total Assets was 円2,167 Mil.
Property, Plant and Equipment(Net PPE) was 円21 Mil.
Depreciation, Depletion and Amortization(DDA) was 円9 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円810 Mil.
Long-Term Debt & Capital Lease Obligation was 円786 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)
=(219.735 / 2397.244) / (245.106 / 2352.999)
=0.091662 / 0.104167
=0.88

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)
=(983.166 / 2352.999) / (999.334 / 2397.244)
=0.417835 / 0.416868
=1.0023

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 - (1685.23 + 19.418) / 1985.244) / (1 - (1878.457 + 21.108) / 2167.358)
=0.141341 / 0.123557
=1.1439

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
=2397.244 / 2352.999
=1.0188

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))
=(9.078 / (9.078 + 21.108)) / (11.628 / (11.628 + 19.418))
=0.300735 / 0.374541
=0.8029

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)
=(0 / 2397.244) / (0 / 2352.999)
=0 / 0
=1

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)
=((526.007 + 824.364) / 1985.244) / ((785.659 + 809.628) / 2167.358)
=0.680204 / 0.736051
=0.9241

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
=(51.684 - 0 - 97.166) / 1985.244
=-0.02291

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.

Wedge Co has a M-score of -2.62 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 -2.62 mean?
Wedge Co (TSE:252A) has a Beneish M-Score of -2.62 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wedge Co and its competitors.
Is Wedge Co's Beneish M-Score too high?
Wedge Co's current Beneish M-Score is -2.62. Overall, Wedge Co has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Wedge Co's Beneish M-Score compare to ?
Wedge Co's Beneish M-Score of -2.62 can be compared against companies in the Hardware 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Wedge Co and its competitors. Wedge Co's current Beneish M-Score is -2.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wedge Co stock overvalued right now?
Wedge Co (TSE:252A) has a current Beneish M-Score of -2.62. The current Beneish M-Score is -2.62. Wedge Co's overall GF Score™ is 12/100 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 Wedge Co (TSE:252A), the current Beneish M-Score is -2.62 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.

Wedge Co Business Description

Comparable Companies
Address 2 Kisshoin Shimizu-cho, Minami-ku, Kyoto Prefecture, Kyoto, JPN, 601-8329
Wedge Co Ltd is engaged in the Design, development, sales, maintenance, management, and rental and leasing of wireless communication devices. Its products include Digital simple radio registration stations, Specific low-power transceivers, repeaters, Business radios, Earphones, Microphones, chargers, Battery clips, Storage cases, antennas, GPs and others.
12GF Score

Get the complete analysis for TSE:252A

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

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