Godo Steel (TSE:5410) Beneish M-Score: -2.70 (As of Jun. 27, 2026)

What is Godo Steel Beneish M-Score?

Godo Steel TSE:5410 +0.97% 55 Beneish M-Score is -2.70 as of Jun. 27, 2026. GuruFocus rates TSE:5410 with a GF Score™ of 55/100 and a GF Value™ of 円3,610.15 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 592 Steel companies, Godo Steel ranks better than 65.2% 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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:5410' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.4 Max: -1.83
Current: -2.7

During the past 13 years, the highest Beneish M-Score of Godo Steel was -1.83. The lowest was -3.04. And the median was -2.40.

Godo Steel Beneish M-Score Related Terms

Godo Steel Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Godo Steel'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.

Godo Steel Beneish M-Score Chart

Godo Steel Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

Get a 7-Day Free Trial

-1.97

-2.35

-2.78

-2.70

Godo Steel Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.78	0.00	0.00	0.00	-2.70

TSE:5410 vs NUE, STLD, RS: Beneish M-Score Comparison

For the Steel subindustry, Godo Steel'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.

Godo Steel Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, Godo Steel's Beneish M-Score distribution charts can be found below:

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

Save Embed

55GF Score

Godo Steel Ltd TSE:5410

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

View Full Analysis

Godo Steel 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 Godo Steel 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 * 0.954

0.528 * 1.0341

0.404 * 1.1901

0.892 * 0.9346

0.115 * 1.0049

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.052359

0.327 * 0.898

-2.70

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円48,486 Mil.
Revenue was 円191,772 Mil.
Gross Profit was 円32,752 Mil.
Total Current Assets was 円120,357 Mil.
Total Assets was 円255,507 Mil.
Property, Plant and Equipment(Net PPE) was 円94,870 Mil.
Depreciation, Depletion and Amortization(DDA) was 円5,275 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円66,437 Mil.
Long-Term Debt & Capital Lease Obligation was 円27,919 Mil.
Net Income was 円8,051 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円21,429 Mil.

Total Receivables was 円54,385 Mil.
Revenue was 円205,199 Mil.
Gross Profit was 円36,240 Mil.
Total Current Assets was 円129,800 Mil.
Total Assets was 円254,159 Mil.
Property, Plant and Equipment(Net PPE) was 円90,693 Mil.
Depreciation, Depletion and Amortization(DDA) was 円5,069 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円73,373 Mil.
Long-Term Debt & Capital Lease Obligation was 円31,142 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)
	=	(48486 / 191772)	/	(54385 / 205199)
	=	0.252831	/	0.265035
	=	0.954

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)
	=	(36240 / 205199)	/	(32752 / 191772)
	=	0.176609	/	0.170786
	=	1.0341

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 - (120357 + 94870) / 255507)	/	(1 - (129800 + 90693) / 254159)
	=	0.157647	/	0.13246
	=	1.1901

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
	=	191772	/	205199
	=	0.9346

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))
	=	(5069 / (5069 + 90693))	/	(5275 / (5275 + 94870))
	=	0.052933	/	0.052674
	=	1.0049

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 / 191772)	/	(0 / 205199)
	=	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)
	=	((27919 + 66437) / 255507)	/	((31142 + 73373) / 254159)
	=	0.369289	/	0.411219
	=	0.898

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
	=	(8051 - 0	-	21429)	/	255507
	=	-0.052359

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.

Godo Steel has a M-score of -2.70 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 -2.70 mean?

Godo Steel (TSE:5410) has a Beneish M-Score of -2.70 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Godo Steel and its competitors. According to the industry distribution chart, Godo Steel ranks #206 out of 592 companies in the Steel industry, placing it in the top 34.8%.

Is Godo Steel's Beneish M-Score too high?

Godo Steel's current Beneish M-Score is -2.70. Based on the distribution chart, Godo Steel ranks #206 out of 592 companies in the Steel industry, which is above the industry midpoint. Overall, Godo Steel has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Godo Steel's Beneish M-Score compare to NUE and STLD?

According to the Steel industry distribution chart, Godo Steel ranks #206 out of 592 companies for Beneish M-Score. This puts Godo Steel 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 Steel company?

A good Beneish M-Score depends on the Steel 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 Godo Steel and its competitors. Godo Steel's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Godo Steel stock overvalued right now?

Based on GuruFocus' analysis, Godo Steel (TSE:5410) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,610.15, compared to a current price of 円2,592.00 — trading 28.2% below its estimated fair value. The current Beneish M-Score is -2.70. Godo Steel's overall GF Score™ is 55/100 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 Godo Steel (TSE:5410), the current Beneish M-Score is -2.70 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 Godo Steel (TSE:5410) Overvalued in 2026?

Based on GuruFocus' analysis, Godo Steel stock appears to be undervalued. The current stock price of 円2,592.00 is trading 28.2% below its estimated GF Value™ of 円3,610.15. GuruFocus considers Godo Steel to be Modestly Undervalued.

Key valuation signals for TSE:5410:

Beneish M-Score: -2.70
GF Value™: 円3,610.15 vs. price of 円2,592.00 (28.2% below fair value)
GF Score™: 55/100 with 2 warning signs

No single metric tells the full story. See the TSE:5410 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Godo Steel Business Description

Industry Basic Materials Steel

Comparable Companies TSE:5976 TSE:5464 TSE:5408 TSE:5445 TSE:5484 TSE:5632 TSE:7305 TSE:5461 TSE:5480 TSE:8075 NUE XAMS:MT STLD BOM:500228 NSE:TATASTEEL XKRX:005490 RS SHSE:600019 TSE:5401 SHSE:600010

Address Toyobo Building 8th Floor, 2-2-8Doujima-hama Kita-ku, Osaka-shi, Osaka, JPN, 5300004

Website http://www.godo-steel.co.jp

Godo Steel Ltd manufactures and sells steel products in Japan and internationally. The company offers wire rods for tire chains, stapler needles, and fencing applications; large and middle shapes that are used in construction, civil engineering, and other sectors; structural bars, which are used as materials for making parts of construction and industrial machinery, ships, and other equipment; and rails. It also provides deformed bars that are used as construction and civil engineering materials; EG joints and anchor plates; and billets. In addition, the company offers reinforcing bars, wire products, firebricks, and ballasts; trucking services; and industrial waste disposal services.

55GF Score

Get the complete analysis for TSE:5410

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

円2,592.00

Price

円3,610.15

GF Value

View TSE:5410 Analysis

See Beneish M-Score data for all stocks →