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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 -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Feedforce Group's Beneish M-Score or its related term are showing as below:
TSE:7068'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.4 Max: 1.72
Current: -2.38
During the past 10 years, the highest Beneish M-Score of Feedforce Group was 1.72. The lowest was -2.83. And the median was -2.40.
The historical data trend for Feedforce Group'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.
TSE:7068 vs APP, OMC, TTD: Beneish M-Score Comparison
For the Advertising Agencies subindustry, Feedforce Group'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.
Feedforce Group Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Feedforce Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Feedforce Group's Beneish M-Score falls into.
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 Feedforce Group 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 * 1.0689
+
0.528 * 1.0017
+
0.404 * 0.8862
+
0.892 * 1.1233
+
0.115 * 1.0057
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.006469
-
0.327 * 0.9933
=
-2.38
* 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.
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.
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))
=
(196 / (196 + 67))
/
(206 / (206 + 72))
=
0.745247
/
0.741007
=
1.0057
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
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
=
(1445 - 0
-
1500)
/
8502
=
-0.006469
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.
Feedforce Group has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.
Feedforce Group (TSE:7068) has a Beneish M-Score of -2.38 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Feedforce Group and its competitors. According to the industry distribution chart, Feedforce Group ranks #616 out of 969 companies in the Media - Diversified industry, placing it in the top 63.6%.
Is Feedforce Group's Beneish M-Score too high?
Feedforce Group's current Beneish M-Score is -2.38. Based on the distribution chart, Feedforce Group ranks #616 out of 969 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Feedforce Group has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Feedforce Group's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Feedforce Group ranks #616 out of 969 companies for Beneish M-Score. This places Feedforce Group 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 Feedforce Group and its competitors. Feedforce Group's current Beneish M-Score is -2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Feedforce Group stock overvalued right now?
Based on GuruFocus' analysis, Feedforce Group (TSE:7068) is currently considered Modestly Undervalued. The stock's GF Value™ is 円715.33, compared to a current price of 円569.00 — trading 20.5% below its estimated fair value. The current Beneish M-Score is -2.38. Feedforce Group's overall GF Score™ is 79/100. 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 Feedforce Group (TSE:7068), the current Beneish M-Score is -2.38 as of Aug. 12, 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 Feedforce Group (TSE:7068) Overvalued in 2026?
Based on GuruFocus' analysis, Feedforce Group stock appears to be undervalued.
The current stock price of 円569.00 is trading 20.5% below its estimated GF Value™ of 円715.33.
GuruFocus considers Feedforce Group to be Modestly Undervalued.
Key valuation signals for TSE:7068:
Beneish M-Score: -2.38
GF Value™: 円715.33 vs. price of 円569.00 (20.5% below fair value)
No single metric tells the full story. See the TSE:7068 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Feedforce Group Inc is involved in the data feed business, digital advertising business, social media marketing business, and other businesses. The company has three reportable segments are Professional Services Business, SaaS Business, and DX Business. The Professional Services Business consists of two main services, Anagrams and DF PLUS, and provides marketing support and solutions that utilize data feeds and listings to businesses, mainly enterprise companies. The SaaS Business consists of three main services: Social PLUS, dfplus.io, and EC Booster. The DX Business consists of four main services: App Unity, Rewire, FRACTA, and Shippinno.
79GF Score
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