i-mobile Co (TSE:6535) Beneish M-Score: -2.43 (As of Jun. 26, 2026)


TSE:6535 i-mobile Co Ltd TSE:6535
83 GF Score
Price 円487.00
GF Value 円658.52
Valuation Modestly Undervalued
! 3 Warning Signs
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What is i-mobile Co Beneish M-Score?

i-mobile Co TSE:6535 +0.41% 83 Beneish M-Score is -2.43 as of Jun. 26, 2026. GuruFocus rates TSE:6535 with a GF Score™ of 83/100 and a GF Value™ of 円658.52 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 989 Media - Diversified companies, i-mobile Co ranks worse than 58.65% 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 -2.43 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:6535' s Beneish M-Score Range Over the Past 10 Years
Min: -3.59   Med: -2.58   Max: -1.15
Current: -2.43

During the past 12 years, the highest Beneish M-Score of i-mobile Co was -1.15. The lowest was -3.59. And the median was -2.58.

i-mobile Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for i-mobile 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.

i-mobile Co Beneish M-Score Chart

i-mobile Co Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.99 -2.63 -2.94 -2.55 -2.43

i-mobile Co Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -2.43 0.00 0.00 0.00

TSE:6535 vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, i-mobile 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.

i-mobile Co Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, i-mobile Co's Beneish M-Score distribution charts can be found below:

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


TSE:6535
83GF Score
i-mobile Co Ltd TSE:6535
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

i-mobile 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 i-mobile 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 * 1.2738+0.528 * 0.9995+0.404 * 1.0239+0.892 * 1.1491+0.115 * 1.0968
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.068185-0.327 * 1.1227
=-2.43

* 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 (Jul25) TTM:Last Year (Jul24) TTM:
Total Receivables was 円2,380 Mil.
Revenue was 円21,528 Mil.
Gross Profit was 円21,500 Mil.
Total Current Assets was 円23,835 Mil.
Total Assets was 円27,264 Mil.
Property, Plant and Equipment(Net PPE) was 円1,084 Mil.
Depreciation, Depletion and Amortization(DDA) was 円230 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円10,912 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円2,957 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円4,816 Mil.
 Total Receivables was 円1,626 Mil.
Revenue was 円18,735 Mil.
Gross Profit was 円18,702 Mil.
Total Current Assets was 円21,383 Mil.
Total Assets was 円24,488 Mil.
Property, Plant and Equipment(Net PPE) was 円1,048 Mil.
Depreciation, Depletion and Amortization(DDA) was 円249 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円8,730 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)
=(2380 / 21528) / (1626 / 18735)
=0.110554 / 0.086789
=1.2738

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)
=(18702 / 18735) / (21500 / 21528)
=0.998239 / 0.998699
=0.9995

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 - (23835 + 1084) / 27264) / (1 - (21383 + 1048) / 24488)
=0.086011 / 0.084
=1.0239

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
=21528 / 18735
=1.1491

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))
=(249 / (249 + 1048)) / (230 / (230 + 1084))
=0.191981 / 0.175038
=1.0968

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 / 21528) / (0 / 18735)
=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 + 10912) / 27264) / ((0 + 8730) / 24488)
=0.400235 / 0.356501
=1.1227

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
=(2957 - 0 - 4816) / 27264
=-0.068185

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.

i-mobile Co has a M-score of -2.43 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 -2.43 mean?
i-mobile Co (TSE:6535) has a Beneish M-Score of -2.43 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on i-mobile Co and its competitors. According to the industry distribution chart, i-mobile Co ranks #580 out of 989 companies in the Media - Diversified industry, placing it in the top 58.6%.
Is i-mobile Co's Beneish M-Score too high?
i-mobile Co's current Beneish M-Score is -2.43. Based on the distribution chart, i-mobile Co ranks #580 out of 989 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, i-mobile Co has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does i-mobile Co's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, i-mobile Co ranks #580 out of 989 companies for Beneish M-Score. This places i-mobile 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 i-mobile Co and its competitors. i-mobile Co's current Beneish M-Score is -2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is i-mobile Co stock overvalued right now?
Based on GuruFocus' analysis, i-mobile Co (TSE:6535) is currently considered Modestly Undervalued. The stock's GF Value™ is 円658.52, compared to a current price of 円487.00 — trading 26% below its estimated fair value. The current Beneish M-Score is -2.43. i-mobile Co's overall GF Score™ is 83/100 with 3 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 i-mobile Co (TSE:6535), the current Beneish M-Score is -2.43 as of Jun. 26, 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 i-mobile Co (TSE:6535) Overvalued in 2026?

Based on GuruFocus' analysis, i-mobile Co stock appears to be undervalued. The current stock price of 円487.00 is trading 26% below its estimated GF Value™ of 円658.52. GuruFocus considers i-mobile Co to be Modestly Undervalued.

Key valuation signals for TSE:6535:

  • Beneish M-Score: -2.43
  • GF Value™: 円658.52 vs. price of 円487.00 (26% below fair value)
  • GF Score™: 83/100 with 3 warning signs

No single metric tells the full story. See the TSE:6535 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

i-mobile Co Business Description

Address N-2F, N.E.S. Building 22-14, Sakuragaoka-cho, Shibuya-ku, Tokyo, JPN, 150-0031
i-mobile Co Ltd provides advertising platform for clients to advertise products and for publishers to monetize cyberspace. Its ad network helps to bring advertisers and media together.
83GF Score

Get the complete analysis for TSE:6535

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

円487.00
Price
円658.52
GF Value