AlbaLink Co (TSE:5537) Beneish M-Score: -2.21 (As of Jun. 27, 2026)


TSE:5537 AlbaLink Co Ltd TSE:5537
21 GF Score
Price 円2,643.00
! 1 Warning Sign
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What is AlbaLink Co Beneish M-Score?

AlbaLink Co TSE:5537 +2.24% 21 Beneish M-Score is -2.21 as of Jun. 27, 2026. GuruFocus rates TSE:5537 with a GF Score™ of 21/100. The stock has 1 warning sign investors should review. Among 1,682 Real Estate companies, AlbaLink Co ranks worse than 60.05% 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 -2.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:5537' s Beneish M-Score Range Over the Past 10 Years
Min: -2.41   Med: -2.21   Max: -1.36
Current: -2.21

During the past 5 years, the highest Beneish M-Score of AlbaLink Co was -1.36. The lowest was -2.41. And the median was -2.21.

AlbaLink Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AlbaLink Co'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.

AlbaLink Co Beneish M-Score Chart

AlbaLink Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -1.36 -2.41 -2.21

AlbaLink Co Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -1.36 0.00 -2.41 0.00 -2.21

TSE:5537 vs CBRE, BEKE: Beneish M-Score Comparison

For the Real Estate Services subindustry, AlbaLink Co'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.

AlbaLink Co Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, AlbaLink Co's Beneish M-Score distribution charts can be found below:

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


TSE:5537
21GF Score
AlbaLink Co Ltd TSE:5537
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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AlbaLink Co 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 AlbaLink Co 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+0.528 * 0.8154+0.404 * 1.0354+0.892 * 1.5057+0.115 * 0.938
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.023553-0.327 * 0.9551
=-2.21

* 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-13 Mil.
Revenue was 円8,191 Mil.
Gross Profit was 円4,479 Mil.
Total Current Assets was 円4,590 Mil.
Total Assets was 円5,260 Mil.
Property, Plant and Equipment(Net PPE) was 円300 Mil.
Depreciation, Depletion and Amortization(DDA) was 円50 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,587 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,556 Mil.
Net Income was 円982 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円1,106 Mil.
 Total Receivables was 円0 Mil.
Revenue was 円5,440 Mil.
Gross Profit was 円2,426 Mil.
Total Current Assets was 円2,218 Mil.
Total Assets was 円2,647 Mil.
Property, Plant and Equipment(Net PPE) was 円249 Mil.
Depreciation, Depletion and Amortization(DDA) was 円39 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円970 Mil.
Long-Term Debt & Capital Lease Obligation was 円685 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)
=(-13.46 / 8191.248) / (0 / 5440.231)
=-0.001643 / 0
=1

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)
=(2425.705 / 5440.231) / (4479.203 / 8191.248)
=0.445883 / 0.546828
=0.8154

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 - (4589.842 + 300.198) / 5260.357) / (1 - (2218.132 + 248.56) / 2646.634)
=0.070398 / 0.067989
=1.0354

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
=8191.248 / 5440.231
=1.5057

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))
=(38.705 / (38.705 + 248.56)) / (50.353 / (50.353 + 300.198))
=0.134736 / 0.14364
=0.938

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 / 8191.248) / (0 / 5440.231)
=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)
=((1555.577 + 1587.005) / 5260.357) / ((685.39 + 970.071) / 2646.634)
=0.597409 / 0.625497
=0.9551

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
=(981.647 - 0 - 1105.544) / 5260.357
=-0.023553

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.

AlbaLink Co has a M-score of -2.21 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 -2.21 mean?
AlbaLink Co (TSE:5537) has a Beneish M-Score of -2.21 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AlbaLink Co and its competitors. According to the industry distribution chart, AlbaLink Co ranks #1010 out of 1682 companies in the Real Estate industry, placing it in the top 60%.
Is AlbaLink Co's Beneish M-Score too high?
AlbaLink Co's current Beneish M-Score is -2.21. Based on the distribution chart, AlbaLink Co ranks #1010 out of 1682 companies in the Real Estate industry, which is below the industry midpoint. Overall, AlbaLink Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does AlbaLink Co's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, AlbaLink Co ranks #1010 out of 1682 companies for Beneish M-Score. This places AlbaLink Co 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 AlbaLink Co and its competitors. AlbaLink Co's current Beneish M-Score is -2.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AlbaLink Co stock overvalued right now?
AlbaLink Co (TSE:5537) has a current Beneish M-Score of -2.21. The current Beneish M-Score is -2.21. AlbaLink Co's overall GF Score™ is 21/100 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 AlbaLink Co (TSE:5537), the current Beneish M-Score is -2.21 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.

AlbaLink Co Business Description

Address 2-17-16 Kiba, 3rd Floor, Beside Kiba, Koto-ku, Tokyo, JPN, 135-0042
AlbaLink Co Ltd is engaged in resale business of used houses. It handle all types of real estate properties that are being considered for sale under various conditions.
21GF Score

Get the complete analysis for TSE:5537

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

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