Mirrativ (TSE:472A) Beneish M-Score: 0.00 (As of Jul. 15, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:472A Mirrativ Inc TSE:472A
11 GF Score
Price 円599.00
! 1 Warning Sign
View Full Analysis

What is Mirrativ Beneish M-Score?

Mirrativ TSE:472A +3.28% 11 Beneish M-Score is 0.00 as of Jul. 15, 2026. GuruFocus rates TSE:472A with a GF Score™ of 11/100. The stock has 1 warning sign investors should review. Among 532 Interactive Media companies, Mirrativ ranks worse than 187969.74% 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.

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

During the past 3 years, the highest Beneish M-Score of Mirrativ was 0.00. The lowest was 0.00. And the median was 0.00.

Mirrativ Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mirrativ'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.

Mirrativ Beneish M-Score Chart

Mirrativ Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Mirrativ Quarterly Data
Dec23 Dec24 Sep25 Dec25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

TSE:472A vs GOOGL, META, SPOT: Beneish M-Score Comparison

For the Internet Content & Information subindustry, Mirrativ'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.

Mirrativ Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Mirrativ's Beneish M-Score distribution charts can be found below:

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


TSE:472A
11GF Score
Mirrativ Inc TSE:472A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mirrativ 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 Mirrativ 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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864 Mil.
Revenue was 円7,188 Mil.
Gross Profit was 円2,276 Mil.
Total Current Assets was 円4,320 Mil.
Total Assets was 円5,240 Mil.
Property, Plant and Equipment(Net PPE) was 円28 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,311 Mil.
Long-Term Debt & Capital Lease Obligation was 円384 Mil.
Net Income was 円739 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円0 Mil.
 Total Receivables was 円622 Mil.
Revenue was 円0 Mil.
Gross Profit was 円0 Mil.
Total Current Assets was 円3,425 Mil.
Total Assets was 円3,537 Mil.
Property, Plant and Equipment(Net PPE) was 円18 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,016 Mil.
Long-Term Debt & Capital Lease Obligation was 円645 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)
=(864.314 / 7188.192) / (622.207 / 0)
=0.120241 /
=

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)
=(0 / 0) / (2275.987 / 7188.192)
= / 0.316629
=

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 - (4320.464 + 28.412) / 5240.492) / (1 - (3425.209 + 17.996) / 3537.03)
=0.17014 / 0.026526
=

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
=7188.192 / 0
=

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))
=(0 / (0 + 17.996)) / (0 / (0 + 28.412))
=0 / 0
=

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 / 7188.192) / (0 / 0)
=0 /
=

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)
=((383.956 + 1310.838) / 5240.492) / ((644.728 + 1015.971) / 3537.03)
=0.323404 / 0.469518
=

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
=(739.29 - 0 - 0) / 5240.492
=0.141073

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Mirrativ (TSE:472A) has a Beneish M-Score of 0.00 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mirrativ and its competitors. According to the industry distribution chart, Mirrativ ranks #999999 out of 532 companies in the Interactive Media industry.
Is Mirrativ's Beneish M-Score too high?
Mirrativ's current Beneish M-Score is 0.00. Based on the distribution chart, Mirrativ ranks #999999 out of 532 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Mirrativ has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Mirrativ's Beneish M-Score compare to GOOGL and META?
According to the Interactive Media industry distribution chart, Mirrativ ranks #999999 out of 532 companies for Beneish M-Score. This places Mirrativ 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 an Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 Mirrativ and its competitors. Mirrativ's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mirrativ stock overvalued right now?
Mirrativ (TSE:472A) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Mirrativ's overall GF Score™ is 11/100 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 Mirrativ (TSE:472A), the current Beneish M-Score is 0.00 as of Jul. 15, 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.

Mirrativ Business Description

Address 2-10-11 Meguro, Meguro Yamate Place 8th Floor, Meguro-ku, Tokyo, JPN, 153-0063
Mirrativ Inc is engaged in the development and operation of the live streaming platform "Mirrativ" and other related businesses. It is a smartphone screen-sharing game distribution platform that allows anyone to easily stream games with just one smartphone. The company's offerings support both game streamers and viewers through real-time communication and engagement.
11GF Score

Get the complete analysis for TSE:472A

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

円599.00
Price