Daikin Industries (TSE:6367) Beneish M-Score: -2.49 (As of Jun. 25, 2026)

What is Daikin Industries Beneish M-Score?

Daikin Industries TSE:6367 -0.59% 92 Beneish M-Score is -2.49 as of Jun. 25, 2026. GuruFocus rates TSE:6367 with a GF Score™ of 92/100 and a GF Value™ of 円21,282.04 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,704 Construction companies, Daikin Industries ranks better than 50.35% 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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:6367' s Beneish M-Score Range Over the Past 10 Years
Min: -2.79 Med: -2.5 Max: -2.2
Current: -2.49

During the past 13 years, the highest Beneish M-Score of Daikin Industries was -2.20. The lowest was -2.79. And the median was -2.50.

Daikin Industries Beneish M-Score Related Terms

Daikin Industries Beneish M-Score Historical Data

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The historical data trend for Daikin Industries'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.

Daikin Industries Beneish M-Score Chart

Daikin Industries Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.30

-2.20

-2.50

-2.68

-2.49

Daikin Industries 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															-2.68	0.00	0.00	0.00	-2.49

TSE:6367 vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Daikin Industries'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.

Daikin Industries Beneish M-Score vs Construction Industry

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

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

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92GF Score

Daikin Industries Ltd TSE:6367

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

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Daikin Industries 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 Daikin Industries 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 * 1.1186

0.528 * 0.9908

0.404 * 0.9556

0.892 * 1.0553

0.115 * 1.0164

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.032813

0.327 * 0.9715

-2.49

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円1,011,104 Mil.
Revenue was 円5,015,036 Mil.
Gross Profit was 円1,732,516 Mil.
Total Current Assets was 円3,262,880 Mil.
Total Assets was 円5,809,240 Mil.
Property, Plant and Equipment(Net PPE) was 円1,464,472 Mil.
Depreciation, Depletion and Amortization(DDA) was 円276,206 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,688,870 Mil.
Long-Term Debt & Capital Lease Obligation was 円608,482 Mil.
Net Income was 円275,229 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円465,848 Mil.

Total Receivables was 円856,542 Mil.
Revenue was 円4,752,335 Mil.
Gross Profit was 円1,626,688 Mil.
Total Current Assets was 円2,853,654 Mil.
Total Assets was 円5,133,416 Mil.
Property, Plant and Equipment(Net PPE) was 円1,279,324 Mil.
Depreciation, Depletion and Amortization(DDA) was 円246,015 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,543,047 Mil.
Long-Term Debt & Capital Lease Obligation was 円546,686 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)
	=	(1011104 / 5015036)	/	(856542 / 4752335)
	=	0.201615	/	0.180236
	=	1.1186

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)
	=	(1626688 / 4752335)	/	(1732516 / 5015036)
	=	0.342292	/	0.345464
	=	0.9908

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 - (3262880 + 1464472) / 5809240)	/	(1 - (2853654 + 1279324) / 5133416)
	=	0.186236	/	0.194887
	=	0.9556

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
	=	5015036	/	4752335
	=	1.0553

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))
	=	(246015 / (246015 + 1279324))	/	(276206 / (276206 + 1464472))
	=	0.161285	/	0.158677
	=	1.0164

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 / 5015036)	/	(0 / 4752335)
	=	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)
	=	((608482 + 1688870) / 5809240)	/	((546686 + 1543047) / 5133416)
	=	0.395465	/	0.407084
	=	0.9715

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
	=	(275229 - 0	-	465848)	/	5809240
	=	-0.032813

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.

Daikin Industries has a M-score of -2.49 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 -2.49 mean?

Daikin Industries (TSE:6367) has a Beneish M-Score of -2.49 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daikin Industries and its competitors. According to the industry distribution chart, Daikin Industries ranks #846 out of 1704 companies in the Construction industry, placing it in the top 49.6%.

Is Daikin Industries' Beneish M-Score too high?

Daikin Industries' current Beneish M-Score is -2.49. Based on the distribution chart, Daikin Industries ranks #846 out of 1704 companies in the Construction industry, which is above the industry midpoint. Overall, Daikin Industries has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Daikin Industries' Beneish M-Score compare to TT and JCI?

According to the Construction industry distribution chart, Daikin Industries ranks #846 out of 1704 companies for Beneish M-Score. This puts Daikin Industries 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 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 Daikin Industries and its competitors. Daikin Industries's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Daikin Industries stock overvalued right now?

Based on GuruFocus' analysis, Daikin Industries (TSE:6367) is currently considered Fairly Valued. The stock's GF Value™ is 円21,282.04, compared to a current price of 円23,490.00 — trading 10.4% above its estimated fair value. The current Beneish M-Score is -2.49. Daikin Industries' overall GF Score™ is 92/100 with 8 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 Daikin Industries (TSE:6367), the current Beneish M-Score is -2.49 as of Jun. 25, 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 Daikin Industries (TSE:6367) Overvalued in 2026?

Based on GuruFocus' analysis, Daikin Industries stock appears to be overvalued. The current stock price of 円23,490.00 is trading 10.4% above its estimated GF Value™ of 円21,282.04. GuruFocus considers Daikin Industries to be Fairly Valued.

Key valuation signals for TSE:6367:

Beneish M-Score: -2.49
GF Value™: 円21,282.04 vs. price of 円23,490.00 (10.4% above fair value)
GF Score™: 92/100 with 8 warning signs

No single metric tells the full story. See the TSE:6367 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Daikin Industries Business Description

Industry Industrials Construction

Comparable Companies TSE:5332 TSE:5929 TSE:1969 TSE:5938 TSE:1979 TSE:1952 TSE:6745 TSE:5930 TSE:4216 TSE:5273 TT JCI CARR XPAR:SGO MAIR XSWX:GEBN LII DUB:KRX MAS CSL

Other Exchanges DKILY:USA DKILF:USA DKIA:Germany

Address 1-13-1 Umeda, 34th Floor, Osaka Umeda Twin Towers South, Kita-ku, Osaka, JPN, 530-0001

Website https://www.daikin.co.jp

Established in Osaka, Japan, in 1924, Daikin Industries is one of the world's largest residential and commercial heating, ventilation, and air conditioning product and service companies. North America, Japan, China, and Europe are Daikin's four biggest regional markets, with North America accounting for over 30% of the company's revenue over the years. The air conditioning segment represents about 90% of Daikin's revenue and operating income, while chemicals and others account for the remaining 10%.

92GF Score

Get the complete analysis for TSE:6367

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

円23,490.00

Price

円21,282.04

GF Value

View TSE:6367 Analysis

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