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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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Hybrid Technologies Co's Beneish M-Score or its related term are showing as below:
TSE:4260'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.44 Med: -2.04 Max: -1.52
Current: -2.49
During the past 8 years, the highest Beneish M-Score of Hybrid Technologies Co was -1.52. The lowest was -3.44. And the median was -2.04.
Hybrid Technologies Co Beneish M-Score Related Terms
Hybrid Technologies Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Hybrid Technologies 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.
TSE:4260 vs IBM, ACN, FISV: Beneish M-Score Comparison
For the Information Technology Services subindustry, Hybrid Technologies 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.
Hybrid Technologies Co Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Hybrid Technologies Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hybrid Technologies Co's Beneish M-Score falls into.
Hybrid Technologies 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 Hybrid Technologies 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 * 0.984
+
0.528 * 0.9224
+
0.404 * 1.3359
+
0.892 * 0.9648
+
0.115 * 0.7556
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2257
+
4.679 * 0.001801
-
0.327 * 1.0121
=
-2.49
* 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))
=
(182.605 / (182.605 + 821.487))
/
(197.007 / (197.007 + 621.478))
=
0.181861
/
0.240697
=
0.7556
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
=
(18.732 - 0
-
11.724)
/
3891.579
=
0.001801
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.
Hybrid Technologies Co has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
Hybrid Technologies Co (TSE:4260) has a Beneish M-Score of -2.49 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hybrid Technologies Co and its competitors. According to the industry distribution chart, Hybrid Technologies Co ranks #1402 out of 2628 companies in the Software industry, placing it in the top 53.3%.
Is Hybrid Technologies Co's Beneish M-Score too high?
Hybrid Technologies Co's current Beneish M-Score is -2.49. Based on the distribution chart, Hybrid Technologies Co ranks #1402 out of 2628 companies in the Software industry, which is below the industry midpoint. Overall, Hybrid Technologies Co has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hybrid Technologies Co's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Hybrid Technologies Co ranks #1402 out of 2628 companies for Beneish M-Score. This places Hybrid Technologies 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 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 Hybrid Technologies Co and its competitors. Hybrid Technologies Co's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hybrid Technologies Co stock overvalued right now?
Based on GuruFocus' analysis, Hybrid Technologies Co (TSE:4260) is currently considered Possible Value Trap. The stock's GF Value™ is 円733.11, compared to a current price of 円221.00 — trading 69.9% below its estimated fair value. The current Beneish M-Score is -2.49. Hybrid Technologies Co's overall GF Score™ is 53/100 with 10 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 Hybrid Technologies Co (TSE:4260), the current Beneish M-Score is -2.49 as of Jul. 17, 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 Hybrid Technologies Co (TSE:4260) Overvalued in 2026?
Based on GuruFocus' analysis, Hybrid Technologies Co stock appears to be undervalued.
The current stock price of 円221.00 is trading 69.9% below its estimated GF Value™ of 円733.11.
GuruFocus considers Hybrid Technologies Co to be Possible Value Trap.
Key valuation signals for TSE:4260:
Beneish M-Score: -2.49
GF Value™: 円733.11 vs. price of 円221.00 (69.9% below fair value)
No single metric tells the full story. See the TSE:4260 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hybrid Technologies Co Ltd is engaged in promoting clients' digital transformation through hybrid services centered on software development with combined resources from Japan and Vietnam. The various services offered include customer service and system design, UX/UI design, post-development growth hacking, development and maintenance of websites and applications, among others. The company's Hybrid services are offered in two forms: stock services and flow services. The majority of its revenue is generated from the provision of stock services, which involves the services of personnel who handle each development process for a client's project and receive revenue according to the number of employees working.
53GF Score
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