Globe-ing (TSE:277A) Beneish M-Score: -2.02 (As of Aug. 11, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:277A Globe-ing Inc TSE:277A
22 GF Score
Price 円1,669.00
View Full Analysis

What is Globe-ing Beneish M-Score?

Globe-ing TSE:277A +2.02% 22 Beneish M-Score is -2.02 as of Aug. 11, 2026. GuruFocus rates TSE:277A with a GF Score™ of 22/100. Among 1,019 Business Services companies, Globe-ing ranks worse than 79.69% 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 -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:277A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.02   Med: -2.02   Max: -2.02
Current: -2.02

During the past 3 years, the highest Beneish M-Score of Globe-ing was -2.02. The lowest was -2.02. And the median was -2.02.

Globe-ing Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Globe-ing'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.

Globe-ing Beneish M-Score Chart

Globe-ing Annual Data
Trend May24 May25 May26
Beneish M-Score
0.00 0.00 -2.02

Globe-ing Quarterly Data
May24 Aug24 Nov24 May25 Aug25 Nov25 Feb26 May26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 -2.02

TSE:277A vs VRSK, EFX, BAH: Beneish M-Score Comparison

For the Consulting Services subindustry, Globe-ing'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.

Globe-ing Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Globe-ing's Beneish M-Score distribution charts can be found below:

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


TSE:277A
22GF Score
Globe-ing Inc TSE:277A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Globe-ing 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 Globe-ing 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 * 0.8696+0.528 * 1.0098+0.404 * 1.1529+0.892 * 1.3945+0.115 * 1.4082
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.009042-0.327 * 0.7724
=-2.02

* 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 (May26) TTM:Last Year (May25) TTM:
Total Receivables was 円1,339 Mil.
Revenue was 円11,513 Mil.
Gross Profit was 円7,737 Mil.
Total Current Assets was 円9,283 Mil.
Total Assets was 円10,950 Mil.
Property, Plant and Equipment(Net PPE) was 円728 Mil.
Depreciation, Depletion and Amortization(DDA) was 円139 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円2,682 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円3,052 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円2,953 Mil.
 Total Receivables was 円1,105 Mil.
Revenue was 円8,256 Mil.
Gross Profit was 円5,602 Mil.
Total Current Assets was 円7,832 Mil.
Total Assets was 円8,768 Mil.
Property, Plant and Equipment(Net PPE) was 円284 Mil.
Depreciation, Depletion and Amortization(DDA) was 円83 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円2,780 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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)
=(1339.329 / 11512.844) / (1104.509 / 8255.896)
=0.116333 / 0.133784
=0.8696

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)
=(5602.471 / 8255.896) / (7736.779 / 11512.844)
=0.678602 / 0.672013
=1.0098

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 - (9283.227 + 728.066) / 10949.527) / (1 - (7831.578 + 284.338) / 8767.516)
=0.085687 / 0.07432
=1.1529

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
=11512.844 / 8255.896
=1.3945

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))
=(82.805 / (82.805 + 284.338)) / (138.847 / (138.847 + 728.066))
=0.225539 / 0.160163
=1.4082

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 / 11512.844) / (0 / 8255.896)
=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)
=((0 + 2682.139) / 10949.527) / ((0 + 2780.315) / 8767.516)
=0.244955 / 0.317115
=0.7724

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
=(3051.788 - 0 - 2952.786) / 10949.527
=0.009042

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.

Globe-ing has a M-score of -2.02 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 -2.02 mean?
Globe-ing (TSE:277A) has a Beneish M-Score of -2.02 as of Aug. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Globe-ing and its competitors. According to the industry distribution chart, Globe-ing ranks #812 out of 1019 companies in the Business Services industry, placing it in the top 79.7%.
Is Globe-ing's Beneish M-Score too high?
Globe-ing's current Beneish M-Score is -2.02. Based on the distribution chart, Globe-ing ranks #812 out of 1019 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Globe-ing has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Globe-ing's Beneish M-Score compare to VRSK and EFX?
According to the Business Services industry distribution chart, Globe-ing ranks #812 out of 1019 companies for Beneish M-Score. This places Globe-ing 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 a Business Services company?
A good Beneish M-Score depends on the Business Services 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 Globe-ing and its competitors. Globe-ing's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Globe-ing stock overvalued right now?
Globe-ing (TSE:277A) has a current Beneish M-Score of -2.02. The current Beneish M-Score is -2.02. Globe-ing's overall GF Score™ is 22/100. 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 Globe-ing (TSE:277A), the current Beneish M-Score is -2.02 as of Aug. 11, 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.

Globe-ing Business Description

Address 3-1-34 Minamiaoyama, 3rd MINAMI AOYAMA 11th Floor, Minato-ku, Tokyo, JPN, 107-0062
Globe-ing Inc is engaged in the Consulting business delivering consulting services and cloud product business providing various SaaS products.
22GF Score

Get the complete analysis for TSE:277A

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

円1,669.00
Price