Visumo (TSE:303A) Beneish M-Score: -2.29 (As of Sep. 05, 2026)

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TSE:303A Visumo Inc TSE:303A
18 GF Score
Price 円585.00
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What is Visumo Beneish M-Score?

Visumo TSE:303A -1.52% 18 Beneish M-Score is -2.29 as of Sep. 05, 2026. GuruFocus rates TSE:303A with a GF Score™ of 18/100. Among 2,640 Software companies, Visumo ranks worse than 64.17% 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 -2.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:303A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.85   Med: -2.57   Max: -2.29
Current: -2.29

During the past 4 years, the highest Beneish M-Score of Visumo was -2.29. The lowest was -2.85. And the median was -2.57.

Visumo Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Visumo'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.

Visumo Beneish M-Score Chart

Visumo Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -2.85 -2.29

Visumo Quarterly Data
Mar23 Mar24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 -2.29 0.00

TSE:303A vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Visumo'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.

Visumo Beneish M-Score vs Software Industry

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

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


TSE:303A
18GF Score
Visumo Inc TSE:303A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Visumo 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 Visumo 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 * 1.2164+0.528 * 1.1126+0.404 * 1.6074+0.892 * 1.1737+0.115 * 0.9219
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9035+4.679 * -0.081263-0.327 * 1.2988
=-2.29

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円121 Mil.
Revenue was 円973 Mil.
Gross Profit was 円588 Mil.
Total Current Assets was 円462 Mil.
Total Assets was 円1,014 Mil.
Property, Plant and Equipment(Net PPE) was 円9 Mil.
Depreciation, Depletion and Amortization(DDA) was 円100 Mil.
Selling, General, & Admin. Expense(SGA) was 円507 Mil.
Total Current Liabilities was 円186 Mil.
Long-Term Debt & Capital Lease Obligation was 円100 Mil.
Net Income was 円73 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円155 Mil.
 Total Receivables was 円85 Mil.
Revenue was 円829 Mil.
Gross Profit was 円558 Mil.
Total Current Assets was 円453 Mil.
Total Assets was 円696 Mil.
Property, Plant and Equipment(Net PPE) was 円11 Mil.
Depreciation, Depletion and Amortization(DDA) was 円57 Mil.
Selling, General, & Admin. Expense(SGA) was 円478 Mil.
Total Current Liabilities was 円151 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)
=(121.17 / 973.156) / (84.866 / 829.121)
=0.124512 / 0.102357
=1.2164

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)
=(557.841 / 829.121) / (588.487 / 973.156)
=0.67281 / 0.60472
=1.1126

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 - (461.503 + 9.209) / 1014.118) / (1 - (453.359 + 10.559) / 695.904)
=0.535841 / 0.333359
=1.6074

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
=973.156 / 829.121
=1.1737

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))
=(57.173 / (57.173 + 10.559)) / (99.955 / (99.955 + 9.209))
=0.844106 / 0.915641
=0.9219

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)
=(506.729 / 973.156) / (477.853 / 829.121)
=0.520707 / 0.576337
=0.9035

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)
=((100 + 186.411) / 1014.118) / ((0 + 151.327) / 695.904)
=0.282424 / 0.217454
=1.2988

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
=(72.72 - 0 - 155.13) / 1014.118
=-0.081263

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.

Visumo has a M-score of -2.29 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 -2.29 mean?
Visumo (TSE:303A) has a Beneish M-Score of -2.29 as of Sep. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Visumo and its competitors. According to the industry distribution chart, Visumo ranks #1694 out of 2640 companies in the Software industry, placing it in the top 64.2%.
Is Visumo's Beneish M-Score too high?
Visumo's current Beneish M-Score is -2.29. Based on the distribution chart, Visumo ranks #1694 out of 2640 companies in the Software industry, which is below the industry midpoint. Overall, Visumo has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Visumo's Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Visumo ranks #1694 out of 2640 companies for Beneish M-Score. This places Visumo 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 Software company?
A good Beneish M-Score depends on the Software 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 Visumo and its competitors. Visumo's current Beneish M-Score is -2.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Visumo stock overvalued right now?
Visumo (TSE:303A) has a current Beneish M-Score of -2.29. The current Beneish M-Score is -2.29. Visumo's overall GF Score™ is 18/100. 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 Visumo (TSE:303A), the current Beneish M-Score is -2.29 as of Sep. 05, 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.

Visumo Business Description

Address 6-10-11 Jingumae, Harajuku Sophia Building, Shibuya-ku, Tokyo, JPN, 150-0001
Visumo Inc is engaged in the SaaS development of the visual marketing platform Visumo. It is a visual marketing platform that makes it easy to enrich the website content.
18GF Score

Get the complete analysis for TSE:303A

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

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