Wowow (TSE:4839) Beneish M-Score: -2.40 (As of Jun. 27, 2026)

What is Wowow Beneish M-Score?

Wowow TSE:4839 -0.92% 64 Beneish M-Score is -2.40 as of Jun. 27, 2026. GuruFocus rates TSE:4839 with a GF Score™ of 64/100 and a GF Value™ of 円1,130.53 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 989 Media - Diversified companies, Wowow ranks worse than 60.97% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:4839' s Beneish M-Score Range Over the Past 10 Years
Min: -2.91 Med: -2.52 Max: -2.26
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Wowow was -2.26. The lowest was -2.91. And the median was -2.52.

Wowow Beneish M-Score Related Terms

Wowow Beneish M-Score Historical Data

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The historical data trend for Wowow'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.

Wowow Beneish M-Score Chart

Wowow Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.34

-2.43

-2.58

-2.86

-2.40

Wowow Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.58	0.00	-2.86	0.00	-2.40

TSE:4839 vs NXST: Beneish M-Score Comparison

For the Broadcasting subindustry, Wowow'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.

Wowow Beneish M-Score vs Media - Diversified Industry

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

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

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64GF Score

Wowow Inc TSE:4839

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Wowow 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 Wowow for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0923

0.528 * 1.0906

0.404 * 1.1366

0.892 * 1.0048

0.115 * 1.1614

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.042751

0.327 * 0.796

-2.40

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円6,146 Mil.
Revenue was 円77,124 Mil.
Gross Profit was 円22,747 Mil.
Total Current Assets was 円61,408 Mil.
Total Assets was 円94,547 Mil.
Property, Plant and Equipment(Net PPE) was 円10,133 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,056 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円22,743 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円1,296 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円5,338 Mil.

Total Receivables was 円5,600 Mil.
Revenue was 円76,757 Mil.
Gross Profit was 円24,690 Mil.
Total Current Assets was 円69,510 Mil.
Total Assets was 円100,499 Mil.
Property, Plant and Equipment(Net PPE) was 円9,473 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,488 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円30,372 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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)
	=	(6146 / 77124)	/	(5600 / 76757)
	=	0.07969	/	0.072958
	=	1.0923

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)
	=	(24690 / 76757)	/	(22747 / 77124)
	=	0.321664	/	0.294941
	=	1.0906

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 - (61408 + 10133) / 94547)	/	(1 - (69510 + 9473) / 100499)
	=	0.243329	/	0.214092
	=	1.1366

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
	=	77124	/	76757
	=	1.0048

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))
	=	(3488 / (3488 + 9473))	/	(3056 / (3056 + 10133))
	=	0.269115	/	0.231708
	=	1.1614

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 / 77124)	/	(0 / 76757)
	=	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)
	=	((0 + 22743) / 94547)	/	((0 + 30372) / 100499)
	=	0.240547	/	0.302212
	=	0.796

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
	=	(1296 - 0	-	5338)	/	94547
	=	-0.042751

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.

Wowow has a M-score of -2.40 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 -2.40 mean?

Wowow (TSE:4839) has a Beneish M-Score of -2.40 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wowow and its competitors. According to the industry distribution chart, Wowow ranks #603 out of 989 companies in the Media - Diversified industry, placing it in the top 61%.

Is Wowow's Beneish M-Score too high?

Wowow's current Beneish M-Score is -2.40. Based on the distribution chart, Wowow ranks #603 out of 989 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Wowow has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Wowow's Beneish M-Score compare to NXST?

According to the Media - Diversified industry distribution chart, Wowow ranks #603 out of 989 companies for Beneish M-Score. This places Wowow 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 Media - Diversified company?

A good Beneish M-Score depends on the Media - Diversified 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 Wowow and its competitors. Wowow's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Wowow stock overvalued right now?

Based on GuruFocus' analysis, Wowow (TSE:4839) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,130.53, compared to a current price of 円974.00 — trading 13.8% below its estimated fair value. The current Beneish M-Score is -2.40. Wowow's overall GF Score™ is 64/100 with 6 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 Wowow (TSE:4839), the current Beneish M-Score is -2.40 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 Wowow (TSE:4839) Overvalued in 2026?

Based on GuruFocus' analysis, Wowow stock appears to be undervalued. The current stock price of 円974.00 is trading 13.8% below its estimated GF Value™ of 円1,130.53. GuruFocus considers Wowow to be Modestly Undervalued.

Key valuation signals for TSE:4839:

Beneish M-Score: -2.40
GF Value™: 円1,130.53 vs. price of 円974.00 (13.8% below fair value)
GF Score™: 64/100 with 6 warning signs

No single metric tells the full story. See the TSE:4839 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Wowow Business Description

Industry Communication Services Media - Diversified

Comparable Companies NGO:9402 TSE:9405 TSE:9414 FSE:9407 TSE:4838 TSE:9413 LUX:SESGL TSE:9412 TSE:9401 XTER:RRTL NXST TSE:9404 LSE:ITV TSE:4676 MIL:MFEB SHSE:600959 SAU:4072 ISX:EMTK BOM:532733 TSE:9409

Address 21F, Akasaka Park Building, 5-2-20, Akasaka, Minato-ku, Tokyo, JPN, 107-6121

Website http://www.wowow.co.jp

Wowow Inc is a broadcasting station operator based in Japan. The company operates its business through two segments namely Broadcast segment and Telemarketing segment through which it provides services through cable TV, communication satellite broadcasting and Internet Protocol television, based on producing and procuring programs and conducting TV broadcasting at a fee charged by broadcasting satellite. It also offers free program distribution service for TV members only and provides digital marketing support on the web, e-mail, mail order, and travel, event planning, and operation.

64GF Score

Get the complete analysis for TSE:4839

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

円974.00

Price

円1,130.53

GF Value

View TSE:4839 Analysis

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