Plat'Home Co (TSE:6836) Beneish M-Score: -1.37 (As of Jul. 13, 2026)

What is Plat'Home Co Beneish M-Score?

Plat'Home Co TSE:6836 +2.77% 57 Beneish M-Score is -1.37 as of Jul. 13, 2026. GuruFocus rates TSE:6836 with a GF Score™ of 57/100 and a GF Value™ of 円913.11 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,408 Hardware companies, Plat'Home Co ranks worse than 90.12% 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 -1.37 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TSE:6836' s Beneish M-Score Range Over the Past 10 Years
Min: -3.61 Med: -2.33 Max: -1.37
Current: -1.37

During the past 13 years, the highest Beneish M-Score of Plat'Home Co was -1.37. The lowest was -3.61. And the median was -2.33.

Plat'Home Co Beneish M-Score Related Terms

Plat'Home Co Beneish M-Score Historical Data

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The historical data trend for Plat'Home 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.

Plat'Home Co Beneish M-Score Chart

Plat'Home Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-1.81

-1.84

-3.01

-3.61

-1.37

Plat'Home Co Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-3.01	0.00	-3.61	0.00	-1.37

TSE:6836 vs SNDK, DELL, STX: Beneish M-Score Comparison

For the Computer Hardware subindustry, Plat'Home 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.

Plat'Home Co Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Plat'Home Co's Beneish M-Score distribution charts can be found below:

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

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57GF Score

Plat'Home Co Ltd TSE:6836

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

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Plat'Home 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 Plat'Home Co 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 * 1.2541

0.528 * 0.9202

0.404 * 0.9576

0.892 * 1.1127

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9698

4.679 * 0.189423

0.327 * 1.1731

-1.37

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円147 Mil.
Revenue was 円1,299 Mil.
Gross Profit was 円562 Mil.
Total Current Assets was 円811 Mil.
Total Assets was 円862 Mil.
Property, Plant and Equipment(Net PPE) was 円49 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1 Mil.
Selling, General, & Admin. Expense(SGA) was 円85 Mil.
Total Current Liabilities was 円379 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円23 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円-141 Mil.

Total Receivables was 円105 Mil.
Revenue was 円1,167 Mil.
Gross Profit was 円465 Mil.
Total Current Assets was 円676 Mil.
Total Assets was 円725 Mil.
Property, Plant and Equipment(Net PPE) was 円48 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円79 Mil.
Total Current Liabilities was 円272 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)
	=	(147.186 / 1298.947)	/	(105.474 / 1167.384)
	=	0.113312	/	0.090351
	=	1.2541

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)
	=	(464.952 / 1167.384)	/	(562.225 / 1298.947)
	=	0.398285	/	0.432831
	=	0.9202

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 - (811.224 + 49.182) / 862.001)	/	(1 - (676.064 + 47.747) / 725.212)
	=	0.00185	/	0.001932
	=	0.9576

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
	=	1298.947	/	1167.384
	=	1.1127

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))
	=	(0 / (0 + 47.747))	/	(0.619 / (0.619 + 49.182))
	=	0	/	0.012429
	=	1

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)
	=	(84.906 / 1298.947)	/	(78.679 / 1167.384)
	=	0.065365	/	0.067398
	=	0.9698

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 + 379.422) / 862.001)	/	((0 + 272.116) / 725.212)
	=	0.440164	/	0.375223
	=	1.1731

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
	=	(22.628 - 0	-	-140.655)	/	862.001
	=	0.189423

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.

Plat'Home Co has a M-score of -1.37 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 -1.37 mean?

Plat'Home Co (TSE:6836) has a Beneish M-Score of -1.37 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Plat'Home Co and its competitors. According to the industry distribution chart, Plat'Home Co ranks #2170 out of 2408 companies in the Hardware industry, placing it in the top 90.1%.

Is Plat'Home Co's Beneish M-Score too high?

Plat'Home Co's current Beneish M-Score is -1.37. Based on the distribution chart, Plat'Home Co ranks #2170 out of 2408 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Plat'Home Co has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Plat'Home Co's Beneish M-Score compare to SNDK and DELL?

According to the Hardware industry distribution chart, Plat'Home Co ranks #2170 out of 2408 companies for Beneish M-Score. This places Plat'Home 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 Hardware company?

A good Beneish M-Score depends on the Hardware 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 Plat'Home Co and its competitors. Plat'Home Co's current Beneish M-Score is -1.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Plat'Home Co stock overvalued right now?

Based on GuruFocus' analysis, Plat'Home Co (TSE:6836) is currently considered Modestly Undervalued. The stock's GF Value™ is 円913.11, compared to a current price of 円704.00 — trading 22.9% below its estimated fair value. The current Beneish M-Score is -1.37. Plat'Home Co's overall GF Score™ is 57/100 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 Plat'Home Co (TSE:6836), the current Beneish M-Score is -1.37 as of Jul. 13, 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 Plat'Home Co (TSE:6836) Overvalued in 2026?

Based on GuruFocus' analysis, Plat'Home Co stock appears to be undervalued. The current stock price of 円704.00 is trading 22.9% below its estimated GF Value™ of 円913.11. GuruFocus considers Plat'Home Co to be Modestly Undervalued.

Key valuation signals for TSE:6836:

Beneish M-Score: -1.37
GF Value™: 円913.11 vs. price of 円704.00 (22.9% below fair value)
GF Score™: 57/100 with 2 warning signs

No single metric tells the full story. See the TSE:6836 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Plat'Home Co Business Description

Industry Technology Hardware

Comparable Companies TSE:6803 TSE:3054 TSE:6731 TSE:6599 TSE:4287 TSE:7709 TSE:5871 TSE:6840 TSE:3021 TSE:5885 SNDK DELL STX WDC ANET SHSE:688041 SHSE:688795 SZSE:002415 TPE:2382 SZSE:301308

Address Nihon Building Kudan Bekkan, 3rd floor, Chiyoda-ku, Tokyo, JPN, 102-0073

Website http://www.plathome.co.jp

Plat'Home Co Ltd develops, manufactures, and sells computers related products in Japan. The company offers micro-servers and IA server storage products, which include OpenBlocks IoT BX1G, an Internet of Things gateway for connecting various sensors, beacons, and devices to the cloud.

57GF Score

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

円704.00

Price

円913.11

GF Value

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