Fast Accounting Co (TSE:5588) Beneish M-Score: 0.92 (As of Jul. 01, 2026)


TSE:5588 Fast Accounting Co Ltd TSE:5588
21 GF Score
Price 円709.00
! 2 Warning Signs
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What is Fast Accounting Co Beneish M-Score?

Fast Accounting Co TSE:5588 -0.70% 21 Beneish M-Score is 0.92 as of Jul. 01, 2026. GuruFocus rates TSE:5588 with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 2,630 Software companies, Fast Accounting Co ranks worse than 94.79% 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.

Warning Sign:

Beneish M-Score 0.92 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TSE:5588' s Beneish M-Score Range Over the Past 10 Years
Min: -2.58   Med: -1.3   Max: 0.92
Current: 0.92

During the past 5 years, the highest Beneish M-Score of Fast Accounting Co was 0.92. The lowest was -2.58. And the median was -1.30.

Fast Accounting Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Fast Accounting 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.

Fast Accounting Co Beneish M-Score Chart

Fast Accounting Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.58 -1.30 0.92

Fast Accounting Co Quarterly Data
Dec21 Dec22 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.30 0.00 0.00 0.92 0.00

TSE:5588 vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Fast Accounting 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.

Fast Accounting Co Beneish M-Score vs Software Industry

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

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


TSE:5588
21GF Score
Fast Accounting Co Ltd TSE:5588
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Fast Accounting 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 Fast Accounting 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 * 4.6841+0.528 * 0.9706+0.404 * 0.7667+0.892 * 1.3882+0.115 * 1.0203
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.05077-0.327 * 0.9587
=0.92

* 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284 Mil.
Revenue was 円2,370 Mil.
Gross Profit was 円1,717 Mil.
Total Current Assets was 円2,130 Mil.
Total Assets was 円2,899 Mil.
Property, Plant and Equipment(Net PPE) was 円353 Mil.
Depreciation, Depletion and Amortization(DDA) was 円160 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,145 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円202 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円349 Mil.
 Total Receivables was 円44 Mil.
Revenue was 円1,707 Mil.
Gross Profit was 円1,200 Mil.
Total Current Assets was 円1,720 Mil.
Total Assets was 円2,434 Mil.
Property, Plant and Equipment(Net PPE) was 円258 Mil.
Depreciation, Depletion and Amortization(DDA) was 円120 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,003 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)
=(284.13 / 2369.766) / (43.696 / 1707.072)
=0.119898 / 0.025597
=4.6841

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)
=(1200.396 / 1707.072) / (1716.828 / 2369.766)
=0.70319 / 0.724472
=0.9706

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 - (2129.822 + 352.755) / 2899.421) / (1 - (1719.726 + 257.929) / 2434.092)
=0.143768 / 0.187518
=0.7667

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
=2369.766 / 1707.072
=1.3882

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))
=(120.354 / (120.354 + 257.929)) / (159.837 / (159.837 + 352.755))
=0.318159 / 0.311821
=1.0203

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 / 2369.766) / (0 / 1707.072)
=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 + 1145.442) / 2899.421) / ((0 + 1003.022) / 2434.092)
=0.395059 / 0.412072
=0.9587

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
=(202.143 - 0 - 349.348) / 2899.421
=-0.05077

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.

Fast Accounting Co has a M-score of 0.92 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.92 mean?
Fast Accounting Co (TSE:5588) has a Beneish M-Score of 0.92 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fast Accounting Co and its competitors. According to the industry distribution chart, Fast Accounting Co ranks #2493 out of 2630 companies in the Software industry, placing it in the top 94.8%.
Is Fast Accounting Co's Beneish M-Score too high?
Fast Accounting Co's current Beneish M-Score is 0.92. Based on the distribution chart, Fast Accounting Co ranks #2493 out of 2630 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Fast Accounting Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Fast Accounting Co's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Fast Accounting Co ranks #2493 out of 2630 companies for Beneish M-Score. This places Fast Accounting 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 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 Fast Accounting Co and its competitors. Fast Accounting Co's current Beneish M-Score is 0.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fast Accounting Co stock overvalued right now?
Fast Accounting Co (TSE:5588) has a current Beneish M-Score of 0.92. The current Beneish M-Score is 0.92. Fast Accounting Co's overall GF Score™ is 21/100 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 Fast Accounting Co (TSE:5588), the current Beneish M-Score is 0.92 as of Jul. 01, 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.

Fast Accounting Co Business Description

Address 2-4-1 Shibakoen, Minato-ku, Tokyo, JPN, 105-0013
Fast Accounting Co Ltd is engaged in AI solution business specializing in the field of accounting. Its services include invoice Automation of input/confirmation, Automated invoice matching, Automate receipt input/confirmation, Automated receipt matching and others.
21GF 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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