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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 -2.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Car Mate Mfg Co's Beneish M-Score or its related term are showing as below:
TSE:7297'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.43 Max: -2.05
Current: -2.28
During the past 13 years, the highest Beneish M-Score of Car Mate Mfg Co was -2.05. The lowest was -3.08. And the median was -2.43.
Car Mate Mfg Co Beneish M-Score Related Terms
Car Mate Mfg Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Car Mate Mfg 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.
For the Auto Parts subindustry, Car Mate Mfg 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.
Car Mate Mfg Co Beneish M-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Car Mate Mfg Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Car Mate Mfg Co'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 Car Mate Mfg 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 * 0.9303
+
0.528 * 0.9091
+
0.404 * 1.0613
+
0.892 * 0.9381
+
0.115 * 4.7519
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.029072
-
0.327 * 0.871
=
-2.28
* 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))
=
(385.18 / (385.18 + 476.714))
/
(41.518 / (41.518 + 399.949))
=
0.4469
/
0.094046
=
4.7519
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
=
(281.138 - 0
-
868.692)
/
20210.16
=
-0.029072
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.
Car Mate Mfg Co has a M-score of -2.28 suggests that the company is unlikely to be a manipulator.
Car Mate Mfg Co (TSE:7297) has a Beneish M-Score of -2.28 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Car Mate Mfg Co and its competitors. According to the industry distribution chart, Car Mate Mfg Co ranks #898 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 70.5%.
Is Car Mate Mfg Co's Beneish M-Score too high?
Car Mate Mfg Co's current Beneish M-Score is -2.28. Based on the distribution chart, Car Mate Mfg Co ranks #898 out of 1274 companies in the Vehicles & Parts industry, which is below the industry midpoint. Overall, Car Mate Mfg Co has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Car Mate Mfg Co's Beneish M-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Car Mate Mfg Co ranks #898 out of 1274 companies for Beneish M-Score. This places Car Mate Mfg 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Car Mate Mfg Co and its competitors. Car Mate Mfg Co's current Beneish M-Score is -2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Car Mate Mfg Co stock overvalued right now?
Based on GuruFocus' analysis, Car Mate Mfg Co (TSE:7297) is currently considered Fairly Valued. The stock's GF Value™ is 円786.35, compared to a current price of 円867.00 — trading 10.3% above its estimated fair value. The current Beneish M-Score is -2.28. Car Mate Mfg Co's overall GF Score™ is 65/100 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 Car Mate Mfg Co (TSE:7297), the current Beneish M-Score is -2.28 as of Jul. 20, 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 Car Mate Mfg Co (TSE:7297) Overvalued in 2026?
Based on GuruFocus' analysis, Car Mate Mfg Co stock appears to be overvalued.
The current stock price of 円867.00 is trading 10.3% above its estimated GF Value™ of 円786.35.
GuruFocus considers Car Mate Mfg Co to be Fairly Valued.
Key valuation signals for TSE:7297:
Beneish M-Score: -2.28
GF Value™: 円786.35 vs. price of 円867.00 (10.3% above fair value)
No single metric tells the full story. See the TSE:7297 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Car Mate Mfg Co Ltd manufactures and sells auto parts and accessories. Its products include roof carrier, fishing rod carrier, car accessories, air fresheners, and flat wiper, among others. Further it also provides leisure and sporting goods and snowboards.
65GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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