Plaza Holdings Co (TSE:7502) Beneish M-Score: -2.93 (As of Jun. 27, 2026)

What is Plaza Holdings Co Beneish M-Score?

Plaza Holdings Co TSE:7502 +0.56% 49 Beneish M-Score is -2.93 as of Jun. 27, 2026. GuruFocus rates TSE:7502 with a GF Score™ of 49/100 and a GF Value™ of 円2,062.00 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 92 Personal Services companies, Plaza Holdings Co ranks better than 77.17% 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 -2.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:7502' s Beneish M-Score Range Over the Past 10 Years
Min: -3.09 Med: -2.75 Max: -2
Current: -2.93

During the past 13 years, the highest Beneish M-Score of Plaza Holdings Co was -2.00. The lowest was -3.09. And the median was -2.75.

Plaza Holdings Co Beneish M-Score Related Terms

Plaza Holdings Co Beneish M-Score Historical Data

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The historical data trend for Plaza Holdings 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.

Plaza Holdings Co Beneish M-Score Chart

Plaza Holdings Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.00

-2.92

-2.75

-2.64

-2.93

Plaza Holdings 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															-2.75	0.00	-2.64	0.00	-2.93

TSE:7502 vs ROL, SCI, HRB: Beneish M-Score Comparison

For the Personal Services subindustry, Plaza Holdings 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.

Plaza Holdings Co Beneish M-Score vs Personal Services Industry

For the Personal Services industry and Consumer Cyclical sector, Plaza Holdings Co's Beneish M-Score distribution charts can be found below:

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

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49GF Score

Plaza Holdings Co Ltd TSE:7502

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

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Plaza Holdings 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 Plaza Holdings 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 * 0.8596

0.528 * 0.9629

0.404 * 0.8432

0.892 * 1.03

0.115 * 0.9579

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0018

4.679 * -0.056485

0.327 * 0.9789

-2.93

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円2,531 Mil.
Revenue was 円19,204 Mil.
Gross Profit was 円7,325 Mil.
Total Current Assets was 円7,061 Mil.
Total Assets was 円11,140 Mil.
Property, Plant and Equipment(Net PPE) was 円3,678 Mil.
Depreciation, Depletion and Amortization(DDA) was 円326 Mil.
Selling, General, & Admin. Expense(SGA) was 円2,692 Mil.
Total Current Liabilities was 円5,659 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,836 Mil.
Net Income was 円206 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円835 Mil.

Total Receivables was 円2,859 Mil.
Revenue was 円18,644 Mil.
Gross Profit was 円6,848 Mil.
Total Current Assets was 円7,389 Mil.
Total Assets was 円11,624 Mil.
Property, Plant and Equipment(Net PPE) was 円3,740 Mil.
Depreciation, Depletion and Amortization(DDA) was 円316 Mil.
Selling, General, & Admin. Expense(SGA) was 円2,609 Mil.
Total Current Liabilities was 円5,958 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,098 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)
	=	(2531.107 / 19204.136)	/	(2858.674 / 18644.069)
	=	0.1318	/	0.153329
	=	0.8596

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)
	=	(6848.048 / 18644.069)	/	(7325.191 / 19204.136)
	=	0.367304	/	0.381438
	=	0.9629

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 - (7061.425 + 3677.936) / 11139.728)	/	(1 - (7389.239 + 3739.755) / 11624.447)
	=	0.03594	/	0.042622
	=	0.8432

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
	=	19204.136	/	18644.069
	=	1.03

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))
	=	(316.062 / (316.062 + 3739.755))	/	(325.7 / (325.7 + 3677.936))
	=	0.077928	/	0.081351
	=	0.9579

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)
	=	(2691.737 / 19204.136)	/	(2608.59 / 18644.069)
	=	0.140164	/	0.139915
	=	1.0018

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)
	=	((2836.081 + 5658.563) / 11139.728)	/	((3097.63 + 5957.967) / 11624.447)
	=	0.762554	/	0.779013
	=	0.9789

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
	=	(206.216 - 0	-	835.438)	/	11139.728
	=	-0.056485

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.

Plaza Holdings Co has a M-score of -2.93 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 -2.93 mean?

Plaza Holdings Co (TSE:7502) has a Beneish M-Score of -2.93 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Plaza Holdings Co and its competitors. According to the industry distribution chart, Plaza Holdings Co ranks #21 out of 92 companies in the Personal Services industry, placing it in the top 22.8%.

Is Plaza Holdings Co's Beneish M-Score too high?

Plaza Holdings Co's current Beneish M-Score is -2.93. Based on the distribution chart, Plaza Holdings Co ranks #21 out of 92 companies in the Personal Services industry, which is in the top quartile — a strong position relative to peers. Overall, Plaza Holdings Co has a GF Score™ of 49/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Plaza Holdings Co's Beneish M-Score compare to ROL and SCI?

According to the Personal Services industry distribution chart, Plaza Holdings Co ranks #21 out of 92 companies for Beneish M-Score. This places Plaza Holdings Co in the top 23% of its industry — outperforming the majority of peers. 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 Personal Services company?

A good Beneish M-Score depends on the Personal Services 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 Plaza Holdings Co and its competitors. Plaza Holdings Co's current Beneish M-Score is -2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Plaza Holdings Co stock overvalued right now?

Based on GuruFocus' analysis, Plaza Holdings Co (TSE:7502) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,062.00, compared to a current price of 円1,620.00 — trading 21.4% below its estimated fair value. The current Beneish M-Score is -2.93. Plaza Holdings Co's overall GF Score™ is 49/100 with 4 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 Plaza Holdings Co (TSE:7502), the current Beneish M-Score is -2.93 as of Jun. 27, 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 Plaza Holdings Co (TSE:7502) Overvalued in 2026?

Based on GuruFocus' analysis, Plaza Holdings Co stock appears to be undervalued. The current stock price of 円1,620.00 is trading 21.4% below its estimated GF Value™ of 円2,062.00. GuruFocus considers Plaza Holdings Co to be Modestly Undervalued.

Key valuation signals for TSE:7502:

Beneish M-Score: -2.93
GF Value™: 円2,062.00 vs. price of 円1,620.00 (21.4% below fair value)
GF Score™: 49/100 with 4 warning signs

No single metric tells the full story. See the TSE:7502 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Plaza Holdings Co Business Description

Industry Consumer Cyclical Personal Services

Comparable Companies TSE:6181 TSE:2424 TSE:2437 TSE:9439 TSE:2300 TSE:2438 TSE:7127 TSE:3041 TSE:6537 TSE:2196 ROL SCI HRB FTDR ANDG BFAM HKSE:08603 LSE:XPS XTER:CWC CSV

Address 1-8-10 Harumi Chuo-ku, Triton Square Tower X 27F, Tokyo, JPN, 104-6027

Website https://www.plazacreate.co.jp

Plaza Holdings Co Ltd is a Japanese company engaged in operating a chain of photo processing stores, and offers digital photo services such as storing, editing, and printing images. In addition, it also produces and sells photo print papers, photo processing chemicals, and films. The company operates in two main businesses, the Imaging Business and the Mobile Business.

49GF 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1,620.00

Price

円2,062.00

GF Value

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