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.
Warning Sign:
Beneish M-Score 0.45 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Fundely Co's Beneish M-Score or its related term are showing as below:
TSE:3137'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.32 Med: -2.25 Max: 0.98
Current: 0.45
During the past 13 years, the highest Beneish M-Score of Fundely Co was 0.98. The lowest was -5.32. And the median was -2.25.
Fundely Co Beneish M-Score Related Terms
Fundely Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Fundely 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.
For the Publishing subindustry, Fundely 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.
Fundely Co Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Fundely Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fundely Co's Beneish M-Score falls into.
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 Fundely 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 * 1.1822
+
0.528 * 0.8587
+
0.404 * 8.098
+
0.892 * 1.0649
+
0.115 * 1.0038
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9668
+
4.679 * -0.021753
-
0.327 * 0.9778
=
0.45
* 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.
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.
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))
=
(240.591 / (240.591 + 3010.068))
/
(222.088 / (222.088 + 2789.929))
=
0.074013
/
0.073734
=
1.0038
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
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
=
(72.895 - 0
-
159.487)
/
3980.705
=
-0.021753
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.
Fundely Co has a M-score of 0.45 signals that the company is likely to be a manipulator.
Fundely Co (TSE:3137) has a Beneish M-Score of 0.45 as of Jul. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fundely Co and its competitors. According to the industry distribution chart, Fundely Co ranks #918 out of 977 companies in the Media - Diversified industry, placing it in the top 94%.
Is Fundely Co's Beneish M-Score too high?
Fundely Co's current Beneish M-Score is 0.45. Based on the distribution chart, Fundely Co ranks #918 out of 977 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Fundely Co has a GF Score™ of 53/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fundely Co's Beneish M-Score compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Fundely Co ranks #918 out of 977 companies for Beneish M-Score. This places Fundely 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 a Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Fundely Co and its competitors. Fundely Co's current Beneish M-Score is 0.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundely Co stock overvalued right now?
Based on GuruFocus' analysis, Fundely Co (TSE:3137) is currently considered Modestly Overvalued. The stock's GF Value™ is 円171.03, compared to a current price of 円213.00 — trading 24.5% above its estimated fair value. The current Beneish M-Score is 0.45. Fundely Co's overall GF Score™ is 53/100 with 6 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 Fundely Co (TSE:3137), the current Beneish M-Score is 0.45 as of Jul. 10, 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 Fundely Co (TSE:3137) Overvalued in 2026?
Based on GuruFocus' analysis, Fundely Co stock appears to be overvalued.
The current stock price of 円213.00 is trading 24.5% above its estimated GF Value™ of 円171.03.
GuruFocus considers Fundely Co to be Modestly Overvalued.
Key valuation signals for TSE:3137:
Beneish M-Score: 0.45
GF Value™: 円171.03 vs. price of 円213.00 (24.5% above fair value)
No single metric tells the full story. See the TSE:3137 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fundely Co Ltd is engaged in the mail-order and retail sales of food and health-related products, as well as marketing support services. Its operations include the MFD business, which focuses on mail-order sales and catalog publication of healthy foods; the CID business, which handles mail-order and retail sales of frozen foods made with domestically sourced ingredients; and the Marketing business, which provides promotional support to food manufacturers and related entities using the company's media and networks with medical institutions. It generates the majority of its revenue from the MFD business segment.
53GF Score
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