Kyoritsu Air Tech (TSE:5997) Beneish M-Score: -2.33 (As of Jul. 11, 2026)

What is Kyoritsu Air Tech Beneish M-Score?

Kyoritsu Air Tech TSE:5997 +0.33% 65 Beneish M-Score is -2.33 as of Jul. 11, 2026. GuruFocus rates TSE:5997 with a GF Score™ of 65/100 and a GF Value™ of 円647.42 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,700 Construction companies, Kyoritsu Air Tech ranks worse than 61.41% 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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:5997' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.48 Max: -2.33
Current: -2.33

During the past 13 years, the highest Beneish M-Score of Kyoritsu Air Tech was -2.33. The lowest was -3.04. And the median was -2.48.

Kyoritsu Air Tech Beneish M-Score Related Terms

Kyoritsu Air Tech Beneish M-Score Historical Data

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The historical data trend for Kyoritsu Air Tech'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.

Kyoritsu Air Tech Beneish M-Score Chart

Kyoritsu Air Tech Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.48

-2.46

-2.41

-2.53

-2.33

Kyoritsu Air Tech Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	-2.33	0.00

TSE:5997 vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Kyoritsu Air Tech'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.

Kyoritsu Air Tech Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Kyoritsu Air Tech's Beneish M-Score distribution charts can be found below:

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

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65GF Score

Kyoritsu Air Tech Inc TSE:5997

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

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Kyoritsu Air Tech 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 Kyoritsu Air Tech 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 * 0.8656

0.528 * 1.0296

0.404 * 1.3609

0.892 * 1.0163

0.115 * 1.0183

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.011312

0.327 * 0.8714

-2.33

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was 円1,883 Mil.
Revenue was 円11,923 Mil.
Gross Profit was 円2,912 Mil.
Total Current Assets was 円8,992 Mil.
Total Assets was 円15,701 Mil.
Property, Plant and Equipment(Net PPE) was 円5,162 Mil.
Depreciation, Depletion and Amortization(DDA) was 円268 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円4,913 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円461 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円283 Mil.

Total Receivables was 円2,141 Mil.
Revenue was 円11,732 Mil.
Gross Profit was 円2,950 Mil.
Total Current Assets was 円9,650 Mil.
Total Assets was 円15,528 Mil.
Property, Plant and Equipment(Net PPE) was 円4,754 Mil.
Depreciation, Depletion and Amortization(DDA) was 円251 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円5,576 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)
	=	(1883.258 / 11923.263)	/	(2140.782 / 11732.058)
	=	0.157948	/	0.182473
	=	0.8656

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)
	=	(2949.626 / 11732.058)	/	(2911.553 / 11923.263)
	=	0.251416	/	0.244191
	=	1.0296

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 - (8992.428 + 5161.565) / 15701.047)	/	(1 - (9650.043 + 4753.719) / 15528.05)
	=	0.098532	/	0.072404
	=	1.3609

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
	=	11923.263	/	11732.058
	=	1.0163

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))
	=	(251.372 / (251.372 + 4753.719))	/	(267.783 / (267.783 + 5161.565))
	=	0.050223	/	0.049321
	=	1.0183

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 / 11923.263)	/	(0 / 11732.058)
	=	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 + 4912.746) / 15701.047)	/	((0 + 5575.931) / 15528.05)
	=	0.312893	/	0.359088
	=	0.8714

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
	=	(460.966 - 0	-	283.361)	/	15701.047
	=	0.011312

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.

Kyoritsu Air Tech has a M-score of -2.33 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 -2.33 mean?

Kyoritsu Air Tech (TSE:5997) has a Beneish M-Score of -2.33 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kyoritsu Air Tech and its competitors. According to the industry distribution chart, Kyoritsu Air Tech ranks #1044 out of 1700 companies in the Construction industry, placing it in the top 61.4%.

Is Kyoritsu Air Tech's Beneish M-Score too high?

Kyoritsu Air Tech's current Beneish M-Score is -2.33. Based on the distribution chart, Kyoritsu Air Tech ranks #1044 out of 1700 companies in the Construction industry, which is below the industry midpoint. Overall, Kyoritsu Air Tech has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Kyoritsu Air Tech's Beneish M-Score compare to TT and JCI?

According to the Construction industry distribution chart, Kyoritsu Air Tech ranks #1044 out of 1700 companies for Beneish M-Score. This places Kyoritsu Air Tech 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Kyoritsu Air Tech and its competitors. Kyoritsu Air Tech's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Kyoritsu Air Tech stock overvalued right now?

Based on GuruFocus' analysis, Kyoritsu Air Tech (TSE:5997) is currently considered Significantly Overvalued. The stock's GF Value™ is 円647.42, compared to a current price of 円916.00 — trading 41.5% above its estimated fair value. The current Beneish M-Score is -2.33. Kyoritsu Air Tech's overall GF Score™ is 65/100 with 9 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 Kyoritsu Air Tech (TSE:5997), the current Beneish M-Score is -2.33 as of Jul. 11, 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 Kyoritsu Air Tech (TSE:5997) Overvalued in 2026?

Based on GuruFocus' analysis, Kyoritsu Air Tech stock appears to be overvalued. The current stock price of 円916.00 is trading 41.5% above its estimated GF Value™ of 円647.42. GuruFocus considers Kyoritsu Air Tech to be Significantly Overvalued.

Key valuation signals for TSE:5997:

Beneish M-Score: -2.33
GF Value™: 円647.42 vs. price of 円916.00 (41.5% above fair value)
GF Score™: 65/100 with 9 warning signs

No single metric tells the full story. See the TSE:5997 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Kyoritsu Air Tech Business Description

Industry Industrials Construction

Comparable Companies TSE:1994 TSE:5900 TSE:7953 TSE:5612 TSE:3426 TSE:5928 TSE:5271 TSE:5936 TSE:9767 NGO:5386 TT JCI CARR XPAR:SGO TSE:6367 XSWX:GEBN LII MAIR DUB:KRX MAS

Address 1034 Daisuki-cho, Kasuya-gun, Fukuoka prefecture, Fukuoka, JPN, 811-2414

Website http://www.kak-net.co.jp

Kyoritsu Air Tech Inc is a Japanese firm engaged in the manufacturing of air-conditioners and various ventilation products. It has building equipment business and housing equipment business. Its products include the flocking air supply unit, variable air volume unit, ventilation unit, fan coil unit, air-disaster prevention damper, and air diffusers.

65GF Score

Get the complete analysis for TSE:5997

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

円916.00

Price

円647.42

GF Value

View TSE:5997 Analysis

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