General Oyster (TSE:3224) Beneish M-Score: -0.94 (As of Jul. 13, 2026)

What is General Oyster Beneish M-Score?

General Oyster TSE:3224 +3.27% 56 Beneish M-Score is -0.94 as of Jul. 13, 2026. GuruFocus rates TSE:3224 with a GF Score™ of 56/100 and a GF Value™ of 円817.38 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 355 Restaurants companies, General Oyster ranks worse than 94.93% 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.

Warning Sign:

Beneish M-Score -0.94 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TSE:3224' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.82 Max: -0.94
Current: -0.94

During the past 13 years, the highest Beneish M-Score of General Oyster was -0.94. The lowest was -3.52. And the median was -2.82.

General Oyster Beneish M-Score Related Terms

General Oyster Beneish M-Score Historical Data

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The historical data trend for General Oyster'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.

General Oyster Beneish M-Score Chart

General Oyster Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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0.00

-2.26

-2.04

-0.94

General Oyster Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.26	0.00	-2.04	0.00	-0.94

TSE:3224 vs MCD, SBUX, YUM: Beneish M-Score Comparison

For the Restaurants subindustry, General Oyster'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.

General Oyster Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, General Oyster's Beneish M-Score distribution charts can be found below:

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

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56GF Score

General Oyster Inc TSE:3224

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

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General Oyster 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 General Oyster 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 * 1.1516

0.528 * 1.1199

0.404 * 3.2347

0.892 * 1.0965

0.115 * 0.9317

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.054714

0.327 * 0.69

-0.94

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円234 Mil.
Revenue was 円4,305 Mil.
Gross Profit was 円2,509 Mil.
Total Current Assets was 円1,601 Mil.
Total Assets was 円3,011 Mil.
Property, Plant and Equipment(Net PPE) was 円1,075 Mil.
Depreciation, Depletion and Amortization(DDA) was 円93 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円663 Mil.
Long-Term Debt & Capital Lease Obligation was 円210 Mil.
Net Income was 円-175 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円-340 Mil.

Total Receivables was 円185 Mil.
Revenue was 円3,926 Mil.
Gross Profit was 円2,562 Mil.
Total Current Assets was 円2,173 Mil.
Total Assets was 円3,340 Mil.
Property, Plant and Equipment(Net PPE) was 円1,052 Mil.
Depreciation, Depletion and Amortization(DDA) was 円84 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,113 Mil.
Long-Term Debt & Capital Lease Obligation was 円290 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)
	=	(233.685 / 4304.927)	/	(185.063 / 3926.227)
	=	0.054283	/	0.047135
	=	1.1516

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)
	=	(2562.376 / 3926.227)	/	(2508.837 / 4304.927)
	=	0.652631	/	0.582783
	=	1.1199

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 - (1601.478 + 1074.531) / 3011.309)	/	(1 - (2173.05 + 1052.262) / 3340.295)
	=	0.111347	/	0.034423
	=	3.2347

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
	=	4304.927	/	3926.227
	=	1.0965

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))
	=	(84.422 / (84.422 + 1052.262))	/	(93.075 / (93.075 + 1074.531))
	=	0.07427	/	0.079714
	=	0.9317

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 / 4304.927)	/	(0 / 3926.227)
	=	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)
	=	((209.959 + 662.926) / 3011.309)	/	((289.987 + 1113.336) / 3340.295)
	=	0.289869	/	0.420119
	=	0.69

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
	=	(-175.011 - 0	-	-339.773)	/	3011.309
	=	0.054714

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.

General Oyster has a M-score of -0.94 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -0.94 mean?

General Oyster (TSE:3224) has a Beneish M-Score of -0.94 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on General Oyster and its competitors. According to the industry distribution chart, General Oyster ranks #337 out of 355 companies in the Restaurants industry, placing it in the top 94.9%.

Is General Oyster's Beneish M-Score too high?

General Oyster's current Beneish M-Score is -0.94. Based on the distribution chart, General Oyster ranks #337 out of 355 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, General Oyster has a GF Score™ of 56/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does General Oyster's Beneish M-Score compare to MCD and SBUX?

According to the Restaurants industry distribution chart, General Oyster ranks #337 out of 355 companies for Beneish M-Score. This places General Oyster 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 Restaurants company?

A good Beneish M-Score depends on the Restaurants 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 General Oyster and its competitors. General Oyster's current Beneish M-Score is -0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is General Oyster stock overvalued right now?

Based on GuruFocus' analysis, General Oyster (TSE:3224) is currently considered Modestly Undervalued. The stock's GF Value™ is 円817.38, compared to a current price of 円727.00 — trading 11.1% below its estimated fair value. The current Beneish M-Score is -0.94. General Oyster's overall GF Score™ is 56/100 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 General Oyster (TSE:3224), the current Beneish M-Score is -0.94 as of Jul. 13, 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 General Oyster (TSE:3224) Overvalued in 2026?

Based on GuruFocus' analysis, General Oyster stock appears to be undervalued. The current stock price of 円727.00 is trading 11.1% below its estimated GF Value™ of 円817.38. GuruFocus considers General Oyster to be Modestly Undervalued.

Key valuation signals for TSE:3224:

Beneish M-Score: -0.94
GF Value™: 円817.38 vs. price of 円727.00 (11.1% below fair value)
GF Score™: 56/100 with 6 warning signs

No single metric tells the full story. See the TSE:3224 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

General Oyster Business Description

Industry Consumer Cyclical Restaurants

Comparable Companies TSE:2762 TSE:3317 TSE:9969 TSE:3067 TSE:3133 TSE:3358 TSE:3372 TSE:138A TSE:7625 TSE:7918 MCD SBUX LSE:CPG YUM CMG TSX:QSR DRI TSX:QSP.UN YUMC TXRH

Address 2-13-13 Nihonbashi Kayabacho Building, 7th Floor, JRE Kayabacho 2-chome Building, Chuo-ku, Tokyo, JPN, 103-0025

Website https://www.g-oyster.com

General Oyster Inc is a Japan-based company engaged in the directly operated stores business and the oyster wholesale business. The group's reportable segments are Store business; Wholesale business; Processing business; Processing business; and Renewable Energy business. It generates the majority of its revenue from the Store business, which consists of directly managed stores and Toyama lyuzen Village stores.

56GF Score

Get the complete analysis for TSE:3224

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

円727.00

Price

円817.38

GF Value

View TSE:3224 Analysis

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