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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 -2.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Fujikura Composites's Beneish M-Score or its related term are showing as below:
TSE:5121'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.98 Med: -2.57 Max: -2.21
Current: -2.37
During the past 13 years, the highest Beneish M-Score of Fujikura Composites was -2.21. The lowest was -2.98. And the median was -2.57.
Fujikura Composites Beneish M-Score Related Terms
Fujikura Composites Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Fujikura Composites'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.
For the Auto Parts subindustry, Fujikura Composites'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.
Fujikura Composites Beneish M-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Fujikura Composites's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fujikura Composites's Beneish M-Score falls into.
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 Fujikura Composites 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 * 0.9146
+
0.528 * 0.9919
+
0.404 * 1.7019
+
0.892 * 0.9908
+
0.115 * 0.9356
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9621
+
4.679 * -0.034547
-
0.327 * 0.745
=
-2.37
* 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))
=
(1451.261 / (1451.261 + 13945.072))
/
(1542.708 / (1542.708 + 13769.2))
=
0.09426
/
0.100752
=
0.9356
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
=
(3987.481 - 0
-
5738.655)
/
50690.143
=
-0.034547
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.
Fujikura Composites has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
Fujikura Composites (TSE:5121) has a Beneish M-Score of -2.37 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fujikura Composites and its competitors. According to the industry distribution chart, Fujikura Composites ranks #824 out of 1275 companies in the Vehicles & Parts industry, placing it in the top 64.6%.
Is Fujikura Composites' Beneish M-Score too high?
Fujikura Composites' current Beneish M-Score is -2.37. Based on the distribution chart, Fujikura Composites ranks #824 out of 1275 companies in the Vehicles & Parts industry, which is below the industry midpoint. Overall, Fujikura Composites has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fujikura Composites' Beneish M-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Fujikura Composites ranks #824 out of 1275 companies for Beneish M-Score. This places Fujikura Composites 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Fujikura Composites and its competitors. Fujikura Composites's current Beneish M-Score is -2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fujikura Composites stock overvalued right now?
Based on GuruFocus' analysis, Fujikura Composites (TSE:5121) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,701.79, compared to a current price of 円2,466.00 — trading 44.9% above its estimated fair value. The current Beneish M-Score is -2.37. Fujikura Composites' overall GF Score™ is 82/100 with 2 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 Fujikura Composites (TSE:5121), the current Beneish M-Score is -2.37 as of Jul. 18, 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 Fujikura Composites (TSE:5121) Overvalued in 2026?
Based on GuruFocus' analysis, Fujikura Composites stock appears to be overvalued.
The current stock price of 円2,466.00 is trading 44.9% above its estimated GF Value™ of 円1,701.79.
GuruFocus considers Fujikura Composites to be Significantly Overvalued.
Key valuation signals for TSE:5121:
Beneish M-Score: -2.37
GF Value™: 円1,701.79 vs. price of 円2,466.00 (44.9% above fair value)
No single metric tells the full story. See the TSE:5121 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fujikura Composites Inc operates in industrial rubber parts industry. It also engages in a wide range of business activities, including the manufacture and sale of pneumatic control equipment, vibration isolation tables and related equipment, electrical and electronic equipment, industrial materials such as rescue equipment, and carbon golf shafts. It operates in four divisions namely Industrial Goods, Electric & Electronic Materials, Control Equipment, Medical, Rubber-Coated Fabric, Processed Goods, Sporting Goods, Outdoor, and R&D.
82GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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