Advanced Media (TSE:3773) Beneish M-Score: -2.45 (As of Aug. 24, 2026)

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TSE:3773 Advanced Media Inc TSE:3773
94 GF Score
Price 円1,034.00
GF Value 円1,422.06
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Advanced Media Beneish M-Score?

Advanced Media TSE:3773 +0.49% 94 Beneish M-Score is -2.45 as of Aug. 24, 2026. GuruFocus rates TSE:3773 with a GF Score™ of 94/100 and a GF Value™ of 円1,422.06 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,403 Hardware companies, Advanced Media ranks better than 54.43% 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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:3773' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21   Med: -2.5   Max: -1.91
Current: -2.45

During the past 13 years, the highest Beneish M-Score of Advanced Media was -1.91. The lowest was -3.21. And the median was -2.50.

Advanced Media Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Advanced Media'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.

Advanced Media Beneish M-Score Chart

Advanced Media Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.97 -3.21 -2.39 -2.32 -2.45

Advanced Media Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.32 0.00 0.00 0.00 -2.45

TSE:3773 vs CSCO, MSI, HPE: Beneish M-Score Comparison

For the Communication Equipment subindustry, Advanced Media'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.

Advanced Media Beneish M-Score vs Hardware Industry

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

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


TSE:3773
94GF Score
Advanced Media Inc TSE:3773
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Advanced Media 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 Advanced Media 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 * 0.9089+0.528 * 1.0054+0.404 * 0.9569+0.892 * 1.0597+0.115 * 0.997
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.006873-0.327 * 0.6649
=-2.45

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円1,133 Mil.
Revenue was 円7,063 Mil.
Gross Profit was 円5,200 Mil.
Total Current Assets was 円9,755 Mil.
Total Assets was 円16,652 Mil.
Property, Plant and Equipment(Net PPE) was 円1,102 Mil.
Depreciation, Depletion and Amortization(DDA) was 円702 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円2,280 Mil.
Long-Term Debt & Capital Lease Obligation was 円195 Mil.
Net Income was 円1,739 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円1,854 Mil.
 Total Receivables was 円1,177 Mil.
Revenue was 円6,665 Mil.
Gross Profit was 円4,934 Mil.
Total Current Assets was 円9,342 Mil.
Total Assets was 円15,971 Mil.
Property, Plant and Equipment(Net PPE) was 円822 Mil.
Depreciation, Depletion and Amortization(DDA) was 円520 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円2,509 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,061 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)
=(1133.284 / 7063.091) / (1176.667 / 6665.147)
=0.160452 / 0.17654
=0.9089

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)
=(4933.801 / 6665.147) / (5200.193 / 7063.091)
=0.740239 / 0.736249
=1.0054

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 - (9755.32 + 1102.423) / 16651.892) / (1 - (9341.923 + 821.623) / 15970.795)
=0.347957 / 0.363617
=0.9569

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
=7063.091 / 6665.147
=1.0597

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))
=(520.448 / (520.448 + 821.623)) / (701.767 / (701.767 + 1102.423))
=0.387795 / 0.388965
=0.997

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 / 7063.091) / (0 / 6665.147)
=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)
=((195 + 2279.957) / 16651.892) / ((1060.7 + 2509.172) / 15970.795)
=0.148629 / 0.223525
=0.6649

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
=(1739.1 - 0 - 1853.549) / 16651.892
=-0.006873

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.

Advanced Media has a M-score of -2.45 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 -2.45 mean?
Advanced Media (TSE:3773) has a Beneish M-Score of -2.45 as of Aug. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Advanced Media and its competitors. According to the industry distribution chart, Advanced Media ranks #1095 out of 2403 companies in the Hardware industry, placing it in the top 45.6%.
Is Advanced Media's Beneish M-Score too high?
Advanced Media's current Beneish M-Score is -2.45. Based on the distribution chart, Advanced Media ranks #1095 out of 2403 companies in the Hardware industry, which is above the industry midpoint. Overall, Advanced Media has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Advanced Media's Beneish M-Score compare to CSCO and MSI?
According to the Hardware industry distribution chart, Advanced Media ranks #1095 out of 2403 companies for Beneish M-Score. This puts Advanced Media 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Advanced Media and its competitors. Advanced Media's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advanced Media stock overvalued right now?
Based on GuruFocus' analysis, Advanced Media (TSE:3773) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,422.06, compared to a current price of 円1,034.00 — trading 27.3% below its estimated fair value. The current Beneish M-Score is -2.45. Advanced Media's overall GF Score™ is 94/100 with 2 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 Advanced Media (TSE:3773), the current Beneish M-Score is -2.45 as of Aug. 24, 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 Advanced Media (TSE:3773) Overvalued in 2026?

Based on GuruFocus' analysis, Advanced Media stock appears to be undervalued. The current stock price of 円1,034.00 is trading 27.3% below its estimated GF Value™ of 円1,422.06. GuruFocus considers Advanced Media to be Modestly Undervalued.

Key valuation signals for TSE:3773:

  • Beneish M-Score: -2.45
  • GF Value™: 円1,422.06 vs. price of 円1,034.00 (27.3% below fair value)
  • GF Score™: 94/100 with 2 warning signs

No single metric tells the full story. See the TSE:3773 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Advanced Media Business Description

Address 3-1-1 Higashiikebukuro, Toshima-ku, 42nd Floor, Sunshine 60, Tokyo, JPN, 170-6042
Advanced Media Inc is an AI voice recognition company in Japan, providing AI voice recognition AmiVoice as a service to companies, corporate users, and general consumers.
94GF Score

Get the complete analysis for TSE:3773

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

円1,034.00
Price
円1,422.06
GF Value