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UnicharmTSE:8113 -0.14%86 Beneish M-Score is -2.72 as of Aug. 15, 2026. GuruFocus rates TSE:8113 with a GF Score™ of 86/100 and a GF Value™ of 円1,236.79 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,855 Consumer Packaged Goods companies, Unicharm ranks better than 67.55% 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 -2.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Unicharm's Beneish M-Score or its related term are showing as below:
TSE:8113'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.64 Med: -2.63 Max: -2.28
Current: -2.72
During the past 13 years, the highest Beneish M-Score of Unicharm was -2.28. The lowest was -3.64. And the median was -2.63.
The historical data trend for Unicharm'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:8113 vs PG, CL, KVUE: Beneish M-Score Comparison
For the Household & Personal Products subindustry, Unicharm'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.
Unicharm Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Unicharm's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Unicharm'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 Unicharm 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 * 0.9726
+
0.528 * 0.9772
+
0.404 * 1.0935
+
0.892 * 1.0029
+
0.115 * 1.0042
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0575
+
4.679 * -0.056289
-
0.327 * 0.9081
=
-2.72
* 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))
=
(47384 / (47384 + 276970))
/
(47471 / (47471 + 278853))
=
0.146087
/
0.145472
=
1.0042
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
=
(64430 - 0
-
133747)
/
1231452
=
-0.056289
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.
Unicharm has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
Unicharm (TSE:8113) has a Beneish M-Score of -2.72 as of Aug. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Unicharm and its competitors. According to the industry distribution chart, Unicharm ranks #602 out of 1855 companies in the Consumer Packaged Goods industry, placing it in the top 32.5%.
Is Unicharm's Beneish M-Score too high?
Unicharm's current Beneish M-Score is -2.72. Based on the distribution chart, Unicharm ranks #602 out of 1855 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Unicharm has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Unicharm's Beneish M-Score compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Unicharm ranks #602 out of 1855 companies for Beneish M-Score. This puts Unicharm in the upper 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Unicharm and its competitors. Unicharm's current Beneish M-Score is -2.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Unicharm stock overvalued right now?
Based on GuruFocus' analysis, Unicharm (TSE:8113) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,236.79, compared to a current price of 円987.50 — trading 20.2% below its estimated fair value. The current Beneish M-Score is -2.72. Unicharm's overall GF Score™ is 86/100 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 Unicharm (TSE:8113), the current Beneish M-Score is -2.72 as of Aug. 15, 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 Unicharm (TSE:8113) Overvalued in 2026?
Based on GuruFocus' analysis, Unicharm stock appears to be undervalued.
The current stock price of 円987.50 is trading 20.2% below its estimated GF Value™ of 円1,236.79.
GuruFocus considers Unicharm to be Modestly Undervalued.
Key valuation signals for TSE:8113:
Beneish M-Score: -2.72
GF Value™: 円1,236.79 vs. price of 円987.50 (20.2% below fair value)
No single metric tells the full story. See the TSE:8113 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Focusing on personal hygiene products utilizing nonwoven fabric, Unicharm is the largest manufacturer of disposable baby diapers and feminine sanitary and adult incontinence products in Japan and Asia. Its personal care business accounted for around 80% of its sales as of 2025, with the balance mainly from pet care. Unicharm generates around 60% of its revenue from overseas, of which nearly three-fourths are from Asia, mostly China, Indonesia, and Thailand. India is the fastest-growing market, followed by Vietnam. Outside Asia, Unicharm operates in Saudi Arabia, the Americas, and Europe. Drugstores, supermarkets, baby product specialty stores, and e-commerce are the key sales channels.
86GF Score
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