Rock Field Co (TSE:2910) Beneish M-Score: -2.78 (As of Jun. 26, 2026)

What is Rock Field Co Beneish M-Score?

Rock Field Co TSE:2910 +0.30% 71 Beneish M-Score is -2.78 as of Jun. 26, 2026. GuruFocus rates TSE:2910 with a GF Score™ of 71/100 and a GF Value™ of 円1,517.96 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Rock Field Co ranks better than 71.93% 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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:2910' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32 Med: -2.69 Max: -2
Current: -2.78

During the past 13 years, the highest Beneish M-Score of Rock Field Co was -2.00. The lowest was -3.32. And the median was -2.69.

Rock Field Co Beneish M-Score Related Terms

Rock Field Co Beneish M-Score Historical Data

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The historical data trend for Rock Field 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.

Rock Field Co Beneish M-Score Chart

Rock Field Co Annual Data

Trend

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Apr24

Apr25

Apr26

Beneish M-Score

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-2.55

-2.53

-2.81

-2.67

-2.78

Rock Field Co Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
Beneish M-Score	Get a 7-Day Free Trial															-2.67	0.00	0.00	0.00	-2.78

TSE:2910 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Rock Field 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.

Rock Field Co Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Rock Field Co's Beneish M-Score distribution charts can be found below:

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

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71GF Score

Rock Field Co Ltd TSE:2910

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

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Rock Field 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 Rock Field 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 * 1.0017

0.528 * 1.0013

0.404 * 1.0175

0.892 * 0.9983

0.115 * 0.9171

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.063586

0.327 * 1.0138

-2.78

This Year (Apr26) TTM:

Last Year (Apr25) TTM:

Total Receivables was 円3,909 Mil.
Revenue was 円51,096 Mil.
Gross Profit was 円29,299 Mil.
Total Current Assets was 円18,559 Mil.
Total Assets was 円34,866 Mil.
Property, Plant and Equipment(Net PPE) was 円13,787 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,924 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円5,517 Mil.
Long-Term Debt & Capital Lease Obligation was 円546 Mil.
Net Income was 円98 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円2,315 Mil.

Total Receivables was 円3,909 Mil.
Revenue was 円51,184 Mil.
Gross Profit was 円29,388 Mil.
Total Current Assets was 円18,786 Mil.
Total Assets was 円35,308 Mil.
Property, Plant and Equipment(Net PPE) was 円14,014 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,773 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円5,364 Mil.
Long-Term Debt & Capital Lease Obligation was 円692 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)
	=	(3909 / 51096)	/	(3909 / 51184)
	=	0.076503	/	0.076372
	=	1.0017

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)
	=	(29388 / 51184)	/	(29299 / 51096)
	=	0.574164	/	0.573411
	=	1.0013

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 - (18559 + 13787) / 34866)	/	(1 - (18786 + 14014) / 35308)
	=	0.072277	/	0.071032
	=	1.0175

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
	=	51096	/	51184
	=	0.9983

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))
	=	(1773 / (1773 + 14014))	/	(1924 / (1924 + 13787))
	=	0.112308	/	0.122462
	=	0.9171

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 / 51096)	/	(0 / 51184)
	=	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)
	=	((546 + 5517) / 34866)	/	((692 + 5364) / 35308)
	=	0.173894	/	0.171519
	=	1.0138

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
	=	(98 - 0	-	2315)	/	34866
	=	-0.063586

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.

Rock Field Co has a M-score of -2.78 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 -2.78 mean?

Rock Field Co (TSE:2910) has a Beneish M-Score of -2.78 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rock Field Co and its competitors. According to the industry distribution chart, Rock Field Co ranks #519 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 28.1%.

Is Rock Field Co's Beneish M-Score too high?

Rock Field Co's current Beneish M-Score is -2.78. Based on the distribution chart, Rock Field Co ranks #519 out of 1849 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Rock Field Co has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Rock Field Co's Beneish M-Score compare to KHC and GIS?

According to the Consumer Packaged Goods industry distribution chart, Rock Field Co ranks #519 out of 1849 companies for Beneish M-Score. This puts Rock Field Co in the upper 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 Consumer Packaged Goods company?

A good Beneish M-Score depends on the Consumer Packaged Goods 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 Rock Field Co and its competitors. Rock Field Co's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Rock Field Co stock overvalued right now?

Based on GuruFocus' analysis, Rock Field Co (TSE:2910) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,517.96, compared to a current price of 円1,320.00 — trading 13% below its estimated fair value. The current Beneish M-Score is -2.78. Rock Field Co's overall GF Score™ is 71/100 with 4 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 Rock Field Co (TSE:2910), the current Beneish M-Score is -2.78 as of Jun. 26, 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 Rock Field Co (TSE:2910) Overvalued in 2026?

Based on GuruFocus' analysis, Rock Field Co stock appears to be undervalued. The current stock price of 円1,320.00 is trading 13% below its estimated GF Value™ of 円1,517.96. GuruFocus considers Rock Field Co to be Modestly Undervalued.

Key valuation signals for TSE:2910:

Beneish M-Score: -2.78
GF Value™: 円1,517.96 vs. price of 円1,320.00 (13% below fair value)
GF Score™: 71/100 with 4 warning signs

No single metric tells the full story. See the TSE:2910 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Rock Field Co Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies TSE:2831 TSE:3139 TSE:2820 TSE:2923 TSE:2915 TSE:2669 TSE:2009 TSE:2922 TSE:2612 TSE:2933 XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 SHSE:603288 NSE:NESTLEIND KHC SHSE:600887 SZSE:300999 GIS

Address 15-2 Uozakihama-machi, Higashinada-ku, Kobe, JPN

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

Rock Field Co Ltd is engaged in the production and sale of prepared dishes. It provides prepared dishes through the operation of various stores, including RF1, Kobe Croquettes, Mikka-Bozu and Itohan, Yugo and RF1 Asia, Vegeteria and be Organic. In addition, it is also involved in the sale of delicatessen. Geographically, the activities of the firm are functioned through the region of Japan.

71GF Score

Get the complete analysis for TSE:2910

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

円1,320.00

Price

円1,517.96

GF Value

View TSE:2910 Analysis

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