Unite and Grow (TSE:4486) Beneish M-Score: -3.70 (As of Jul. 11, 2026)


TSE:4486 Unite and Grow Inc TSE:4486
88 GF Score
Price 円641.00
GF Value 円857.60
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Unite and Grow Beneish M-Score?

Unite and Grow TSE:4486 +0.63% 88 Beneish M-Score is -3.70 as of Jul. 11, 2026. GuruFocus rates TSE:4486 with a GF Score™ of 88/100 and a GF Value™ of 円857.60 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 2,627 Software companies, Unite and Grow ranks better than 89.72% 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 -3.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:4486' s Beneish M-Score Range Over the Past 10 Years
Min: -3.7   Med: -2.76   Max: 3.37
Current: -3.7

During the past 9 years, the highest Beneish M-Score of Unite and Grow was 3.37. The lowest was -3.70. And the median was -2.76.

Unite and Grow Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Unite and Grow'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.

Unite and Grow Beneish M-Score Chart

Unite and Grow Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -3.04 -2.05 -3.06 3.37 -3.70

Unite and Grow Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 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 0.00 0.00 0.00 -3.70 0.00

TSE:4486 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Unite and Grow'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.

Unite and Grow Beneish M-Score vs Software Industry

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

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


TSE:4486
88GF Score
Unite and Grow Inc TSE:4486
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Unite and Grow 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 Unite and Grow 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+0.528 * 0.995+0.404 * 0.8611+0.892 * 1.1845+0.115 * 0.8484
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.077427-0.327 * 1.0781
=-3.70

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was 円0 Mil.
Revenue was 円3,515 Mil.
Gross Profit was 円1,642 Mil.
Total Current Assets was 円3,151 Mil.
Total Assets was 円3,475 Mil.
Property, Plant and Equipment(Net PPE) was 円125 Mil.
Depreciation, Depletion and Amortization(DDA) was 円56 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,222 Mil.
Long-Term Debt & Capital Lease Obligation was 円1 Mil.
Net Income was 円411 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円680 Mil.
 Total Receivables was 円4 Mil.
Revenue was 円2,967 Mil.
Gross Profit was 円1,379 Mil.
Total Current Assets was 円2,740 Mil.
Total Assets was 円3,079 Mil.
Property, Plant and Equipment(Net PPE) was 円133 Mil.
Depreciation, Depletion and Amortization(DDA) was 円47 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,004 Mil.
Long-Term Debt & Capital Lease Obligation was 円1 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)
=(0 / 3514.731) / (3.934 / 2967.183)
=0 / 0.001326
=0

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)
=(1379.039 / 2967.183) / (1641.784 / 3514.731)
=0.464764 / 0.467115
=0.995

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 - (3150.509 + 124.835) / 3475.382) / (1 - (2739.868 + 133.393) / 3079.067)
=0.057559 / 0.06684
=0.8611

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
=3514.731 / 2967.183
=1.1845

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))
=(47.322 / (47.322 + 133.393)) / (55.73 / (55.73 + 124.835))
=0.26186 / 0.308642
=0.8484

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 / 3514.731) / (0 / 2967.183)
=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)
=((1.01 + 1221.666) / 3475.382) / ((1.297 + 1003.521) / 3079.067)
=0.351811 / 0.326338
=1.0781

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
=(410.894 - 0 - 679.981) / 3475.382
=-0.077427

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.

Unite and Grow has a M-score of -3.70 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 -3.70 mean?
Unite and Grow (TSE:4486) has a Beneish M-Score of -3.70 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Unite and Grow and its competitors. According to the industry distribution chart, Unite and Grow ranks #270 out of 2627 companies in the Software industry, placing it in the top 10.3%.
Is Unite and Grow's Beneish M-Score too high?
Unite and Grow's current Beneish M-Score is -3.70. Based on the distribution chart, Unite and Grow ranks #270 out of 2627 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Unite and Grow has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Unite and Grow's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Unite and Grow ranks #270 out of 2627 companies for Beneish M-Score. This places Unite and Grow in the top 10% of its industry — outperforming the majority of peers. 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 Unite and Grow and its competitors. Unite and Grow's current Beneish M-Score is -3.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Unite and Grow stock overvalued right now?
Based on GuruFocus' analysis, Unite and Grow (TSE:4486) is currently considered Modestly Undervalued. The stock's GF Value™ is 円857.60, compared to a current price of 円641.00 — trading 25.3% below its estimated fair value. The current Beneish M-Score is -3.70. Unite and Grow's overall GF Score™ is 88/100 with 1 warning sign 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 Unite and Grow (TSE:4486), the current Beneish M-Score is -3.70 as of Jul. 11, 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 Unite and Grow (TSE:4486) Overvalued in 2026?

Based on GuruFocus' analysis, Unite and Grow stock appears to be undervalued. The current stock price of 円641.00 is trading 25.3% below its estimated GF Value™ of 円857.60. GuruFocus considers Unite and Grow to be Modestly Undervalued.

Key valuation signals for TSE:4486:

  • Beneish M-Score: -3.70
  • GF Value™: 円857.60 vs. price of 円641.00 (25.3% below fair value)
  • GF Score™: 88/100 with 1 warning sign

No single metric tells the full story. See the TSE:4486 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Unite and Grow Business Description

Address 4-3 Kanda-Surugadai Chiyoda-ku, Shin-Ochanomizu Building 3rd Floor, Tokyo, JPN, 101-0062
Unite and Grow Inc is a provider of IT administration insourcing services for SMBs and venture/growth companies. The company's services include Telephone IT Consulting, Onsite Troubleshooting, Regular Visits by Full-time Engineers, Periodical Visit Service, Remote Operations Monitoring Service, IT Consulting, IT Literacy Training, Management Seminars, and Online Q&A Community Syszo.
88GF Score

Get the complete analysis for TSE:4486

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

円641.00
Price
円857.60
GF Value