FIXER (TSE:5129) Beneish M-Score: -2.83 (As of Jul. 08, 2026)


TSE:5129 FIXER Inc TSE:5129
66 GF Score
Price 円276.00
GF Value 円394.78
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is FIXER Beneish M-Score?

FIXER TSE:5129 +0.36% 66 Beneish M-Score is -2.83 as of Jul. 08, 2026. GuruFocus rates TSE:5129 with a GF Score™ of 66/100 and a GF Value™ of 円394.78 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,625 Software companies, FIXER ranks better than 69.6% 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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:5129' s Beneish M-Score Range Over the Past 10 Years
Min: -8.23   Med: -2.52   Max: -1.88
Current: -2.83

During the past 6 years, the highest Beneish M-Score of FIXER was -1.88. The lowest was -8.23. And the median was -2.52.

FIXER Beneish M-Score Historical Data

* Premium members only.

The historical data trend for FIXER'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.

FIXER Beneish M-Score Chart

FIXER Annual Data
Trend Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -8.23 -2.21 -1.88 -2.83

FIXER Semi-Annual Data
Aug20 Aug21 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -1.88 0.00 -2.83 0.00

TSE:5129 vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, FIXER'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.

FIXER Beneish M-Score vs Software Industry

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

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


TSE:5129
66GF Score
FIXER Inc TSE:5129
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

FIXER 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 FIXER 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 * 1.034+0.528 * 2.6737+0.404 * 2.2797+0.892 * 0.6156+0.115 * 0.5423
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7572+4.679 * -0.239775-0.327 * 1.4227
=-2.83

* 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 (Aug25) TTM:Last Year (Aug24) TTM:
Total Receivables was 円769 Mil.
Revenue was 円3,982 Mil.
Gross Profit was 円484 Mil.
Total Current Assets was 円4,050 Mil.
Total Assets was 円4,450 Mil.
Property, Plant and Equipment(Net PPE) was 円283 Mil.
Depreciation, Depletion and Amortization(DDA) was 円57 Mil.
Selling, General, & Admin. Expense(SGA) was 円357 Mil.
Total Current Liabilities was 円683 Mil.
Long-Term Debt & Capital Lease Obligation was 円2 Mil.
Net Income was 円-2,114 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円-1,047 Mil.
 Total Receivables was 円1,208 Mil.
Revenue was 円6,468 Mil.
Gross Profit was 円2,102 Mil.
Total Current Assets was 円5,854 Mil.
Total Assets was 円6,590 Mil.
Property, Plant and Equipment(Net PPE) was 円660 Mil.
Depreciation, Depletion and Amortization(DDA) was 円66 Mil.
Selling, General, & Admin. Expense(SGA) was 円330 Mil.
Total Current Liabilities was 円703 Mil.
Long-Term Debt & Capital Lease Obligation was 円10 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)
=(769 / 3982) / (1208 / 6468)
=0.193119 / 0.186766
=1.034

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)
=(2102 / 6468) / (484 / 3982)
=0.324985 / 0.121547
=2.6737

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 - (4050 + 283) / 4450) / (1 - (5854 + 660) / 6590)
=0.026292 / 0.011533
=2.2797

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
=3982 / 6468
=0.6156

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))
=(66 / (66 + 660)) / (57 / (57 + 283))
=0.090909 / 0.167647
=0.5423

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)
=(357 / 3982) / (330 / 6468)
=0.089653 / 0.05102
=1.7572

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)
=((2 + 683) / 4450) / ((10 + 703) / 6590)
=0.153933 / 0.108194
=1.4227

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
=(-2114 - 0 - -1047) / 4450
=-0.239775

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.

FIXER has a M-score of -2.83 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 -2.83 mean?
FIXER (TSE:5129) has a Beneish M-Score of -2.83 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FIXER and its competitors. According to the industry distribution chart, FIXER ranks #798 out of 2625 companies in the Software industry, placing it in the top 30.4%.
Is FIXER's Beneish M-Score too high?
FIXER's current Beneish M-Score is -2.83. Based on the distribution chart, FIXER ranks #798 out of 2625 companies in the Software industry, which is above the industry midpoint. Overall, FIXER has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does FIXER's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, FIXER ranks #798 out of 2625 companies for Beneish M-Score. This puts FIXER in the upper 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 FIXER and its competitors. FIXER's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FIXER stock overvalued right now?
Based on GuruFocus' analysis, FIXER (TSE:5129) is currently considered Possible Value Trap. The stock's GF Value™ is 円394.78, compared to a current price of 円276.00 — trading 30.1% below its estimated fair value. The current Beneish M-Score is -2.83. FIXER's overall GF Score™ is 66/100 with 4 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 FIXER (TSE:5129), the current Beneish M-Score is -2.83 as of Jul. 08, 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 FIXER (TSE:5129) Overvalued in 2026?

Based on GuruFocus' analysis, FIXER stock appears to be undervalued. The current stock price of 円276.00 is trading 30.1% below its estimated GF Value™ of 円394.78. GuruFocus considers FIXER to be Possible Value Trap.

Key valuation signals for TSE:5129:

  • Beneish M-Score: -2.83
  • GF Value™: 円394.78 vs. price of 円276.00 (30.1% below fair value)
  • GF Score™: 66/100 with 4 warning signs

No single metric tells the full story. See the TSE:5129 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

FIXER Business Description

Address 1-2-3 Shibaura, Minato-ku, Tokyo, JPN, 105-0023
FIXER Inc develops application systems on cloud platforms, and provide managed services covering cloud monitoring, recovery from system failure and cloud optimization.
66GF Score

Get the complete analysis for TSE:5129

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

円276.00
Price
円394.78
GF Value