The Shimane Bank (TSE:7150) Beneish M-Score: -2.36 (As of Jun. 26, 2026)


TSE:7150 The Shimane Bank Ltd TSE:7150
58 GF Score
Price 円466.00
GF Value 円634.97
Valuation Modestly Undervalued
! 2 Warning Signs
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What is The Shimane Bank Beneish M-Score?

The Shimane Bank TSE:7150 +0.22% 58 Beneish M-Score is -2.36 as of Jun. 26, 2026. GuruFocus rates TSE:7150 with a GF Score™ of 58/100 and a GF Value™ of 円634.97 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,397 Banks companies, The Shimane Bank ranks worse than 56.84% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:7150' s Beneish M-Score Range Over the Past 10 Years
Min: -3.1   Med: -2.48   Max: -2.06
Current: -2.36

During the past 13 years, the highest Beneish M-Score of The Shimane Bank was -2.06. The lowest was -3.10. And the median was -2.48.

TSE:7150
58GF Score
The Shimane Bank Ltd TSE:7150
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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The Shimane Bank 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 The Shimane Bank 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+0.528 * 1+0.404 * 1.0005+0.892 * 1.1+0.115 * 0.8475
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1026+4.679 * 0.008118-0.327 * 0.9223
=-2.36

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円0 Mil.
Revenue was 円9,550 Mil.
Gross Profit was 円9,550 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円563,161 Mil.
Property, Plant and Equipment(Net PPE) was 円6,453 Mil.
Depreciation, Depletion and Amortization(DDA) was 円664 Mil.
Selling, General, & Admin. Expense(SGA) was 円5,721 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円18,234 Mil.
Net Income was 円370 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円-4,202 Mil.
 Total Receivables was 円0 Mil.
Revenue was 円8,682 Mil.
Gross Profit was 円8,682 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円568,783 Mil.
Property, Plant and Equipment(Net PPE) was 円6,802 Mil.
Depreciation, Depletion and Amortization(DDA) was 円584 Mil.
Selling, General, & Admin. Expense(SGA) was 円4,717 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円19,967 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)
=(0 / 9550) / (0 / 8682)
=0 / 0
=1

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)
=(8682 / 8682) / (9550 / 9550)
=1 / 1
=1

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 - (0 + 6453) / 563161) / (1 - (0 + 6802) / 568783)
=0.988541 / 0.988041
=1.0005

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
=9550 / 8682
=1.1

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))
=(584 / (584 + 6802)) / (664 / (664 + 6453))
=0.079069 / 0.093298
=0.8475

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)
=(5721 / 9550) / (4717 / 8682)
=0.599058 / 0.543308
=1.1026

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)
=((18234 + 0) / 563161) / ((19967 + 0) / 568783)
=0.032378 / 0.035105
=0.9223

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
=(370 - 0 - -4202) / 563161
=0.008118

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.

The Shimane Bank has a M-score of -2.36 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 -2.36 mean?
The Shimane Bank (TSE:7150) has a Beneish M-Score of -2.36 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Shimane Bank and its competitors. According to the industry distribution chart, The Shimane Bank ranks #794 out of 1397 companies in the Banks industry, placing it in the top 56.8%.
Is The Shimane Bank's Beneish M-Score too high?
The Shimane Bank's current Beneish M-Score is -2.36. Based on the distribution chart, The Shimane Bank ranks #794 out of 1397 companies in the Banks industry, which is below the industry midpoint. Overall, The Shimane Bank has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Shimane Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, The Shimane Bank ranks #794 out of 1397 companies for Beneish M-Score. This places The Shimane Bank 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 Banks company?
A good Beneish M-Score depends on the Banks 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 The Shimane Bank and its competitors. The Shimane Bank's current Beneish M-Score is -2.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Shimane Bank stock overvalued right now?
Based on GuruFocus' analysis, The Shimane Bank (TSE:7150) is currently considered Modestly Undervalued. The stock's GF Value™ is 円634.97, compared to a current price of 円466.00 — trading 26.6% below its estimated fair value. The current Beneish M-Score is -2.36. The Shimane Bank's overall GF Score™ is 58/100 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 The Shimane Bank (TSE:7150), the current Beneish M-Score is -2.36 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 The Shimane Bank (TSE:7150) Overvalued in 2026?

Based on GuruFocus' analysis, The Shimane Bank stock appears to be undervalued. The current stock price of 円466.00 is trading 26.6% below its estimated GF Value™ of 円634.97. GuruFocus considers The Shimane Bank to be Modestly Undervalued.

Key valuation signals for TSE:7150:

  • Beneish M-Score: -2.36
  • GF Value™: 円634.97 vs. price of 円466.00 (26.6% below fair value)
  • GF Score™: 58/100 with 2 warning signs

No single metric tells the full story. See the TSE:7150 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

The Shimane Bank Business Description

Address Kou Itimatsu chome Higashihonmachi number 35, Shimane, JPN
The Shimane Bank Ltd is engaged in providing financial services based in Japan.
58GF Score

Get the complete analysis for TSE:7150

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

円466.00
Price
円634.97
GF Value