Baudroie (TSE:4413) Beneish M-Score: -1.86 (As of Jun. 27, 2026)


TSE:4413 Baudroie Inc TSE:4413
84 GF Score
Price 円2,404.00
GF Value 円5,096.77
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Baudroie Beneish M-Score?

Baudroie TSE:4413 -2.16% 84 Beneish M-Score is -1.86 as of Jun. 27, 2026. GuruFocus rates TSE:4413 with a GF Score™ of 84/100 and a GF Value™ of 円5,096.77 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,634 Software companies, Baudroie ranks worse than 79.31% 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 -1.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:4413' s Beneish M-Score Range Over the Past 10 Years
Min: -2.05   Med: -1.79   Max: -1.64
Current: -1.86

During the past 7 years, the highest Beneish M-Score of Baudroie was -1.64. The lowest was -2.05. And the median was -1.79.

Baudroie Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Baudroie'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.

Baudroie Beneish M-Score Chart

Baudroie Annual Data
Trend Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Beneish M-Score
Get a 7-Day Free Trial -2.05 -1.78 -1.79 -1.64 -1.86

Baudroie Semi-Annual Data
Feb20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.79 -1.24 -1.64 -0.34 -1.86

TSE:4413 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Baudroie'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.

Baudroie Beneish M-Score vs Software Industry

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

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


TSE:4413
84GF Score
Baudroie Inc TSE:4413
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Baudroie 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 Baudroie 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 * 1.1028+0.528 * 1.0658+0.404 * 1.3798+0.892 * 1.4956+0.115 * 1.0978
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9742+4.679 * -0.029618-0.327 * 0.9404
=-1.86

* 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 (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was 円2,604 Mil.
Revenue was 円17,423 Mil.
Gross Profit was 円5,987 Mil.
Total Current Assets was 円7,365 Mil.
Total Assets was 円14,025 Mil.
Property, Plant and Equipment(Net PPE) was 円826 Mil.
Depreciation, Depletion and Amortization(DDA) was 円280 Mil.
Selling, General, & Admin. Expense(SGA) was 円2,606 Mil.
Total Current Liabilities was 円4,401 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,583 Mil.
Net Income was 円2,458 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円2,873 Mil.
 Total Receivables was 円1,579 Mil.
Revenue was 円11,650 Mil.
Gross Profit was 円4,266 Mil.
Total Current Assets was 円5,384 Mil.
Total Assets was 円8,603 Mil.
Property, Plant and Equipment(Net PPE) was 円626 Mil.
Depreciation, Depletion and Amortization(DDA) was 円241 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,789 Mil.
Total Current Liabilities was 円2,826 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,077 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)
=(2603.677 / 17423.34) / (1578.552 / 11649.705)
=0.149436 / 0.135501
=1.1028

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)
=(4266.047 / 11649.705) / (5986.591 / 17423.34)
=0.366194 / 0.343596
=1.0658

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 - (7365.482 + 826.094) / 14024.929) / (1 - (5384.041 + 625.51) / 8602.846)
=0.415927 / 0.301446
=1.3798

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
=17423.34 / 11649.705
=1.4956

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))
=(241.098 / (241.098 + 625.51)) / (280.417 / (280.417 + 826.094))
=0.278209 / 0.253425
=1.0978

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)
=(2606.03 / 17423.34) / (1788.573 / 11649.705)
=0.149571 / 0.153529
=0.9742

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)
=((1582.611 + 4401.021) / 14024.929) / ((1077.206 + 2825.77) / 8602.846)
=0.426643 / 0.453684
=0.9404

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
=(2457.8 - 0 - 2873.186) / 14024.929
=-0.029618

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.

Baudroie has a M-score of -1.86 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 -1.86 mean?
Baudroie (TSE:4413) has a Beneish M-Score of -1.86 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Baudroie and its competitors. According to the industry distribution chart, Baudroie ranks #2089 out of 2634 companies in the Software industry, placing it in the top 79.3%.
Is Baudroie's Beneish M-Score too high?
Baudroie's current Beneish M-Score is -1.86. Based on the distribution chart, Baudroie ranks #2089 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Baudroie has a GF Score™ of 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Baudroie's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Baudroie ranks #2089 out of 2634 companies for Beneish M-Score. This places Baudroie 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 Baudroie and its competitors. Baudroie's current Beneish M-Score is -1.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baudroie stock overvalued right now?
Based on GuruFocus' analysis, Baudroie (TSE:4413) is currently considered Significantly Undervalued. The stock's GF Value™ is 円5,096.77, compared to a current price of 円2,404.00 — trading 52.8% below its estimated fair value. The current Beneish M-Score is -1.86. Baudroie's overall GF Score™ is 84/100 with 3 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 Baudroie (TSE:4413), the current Beneish M-Score is -1.86 as of Jun. 27, 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 Baudroie (TSE:4413) Overvalued in 2026?

Based on GuruFocus' analysis, Baudroie stock appears to be undervalued. The current stock price of 円2,404.00 is trading 52.8% below its estimated GF Value™ of 円5,096.77. GuruFocus considers Baudroie to be Significantly Undervalued.

Key valuation signals for TSE:4413:

  • Beneish M-Score: -1.86
  • GF Value™: 円5,096.77 vs. price of 円2,404.00 (52.8% below fair value)
  • GF Score™: 84/100 with 3 warning signs

No single metric tells the full story. See the TSE:4413 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Baudroie Business Description

Address 1-3-1 Azabudai, 17F Mori JP Tower, Azabudai Hills, Minato-ku, Tokyo, JPN, 106-0041
Baudroie Inc is a professional operator specializing in IT infrastructure services for businesses. It caters to the needs of clients with optimal IT solutions in the network, server, security, and cloud areas. The company focuses on providing services in high-technology areas, such as cloud adoption support and network virtualization. Tailored to clients' needs and issues, Baudroie also offers design, construction, operation, and maintenance services for customized IT infrastructure.
84GF Score

Get the complete analysis for TSE:4413

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

円2,404.00
Price
円5,096.77
GF Value