Life (TSE:8194) Beneish M-Score: -3.12 (As of Jun. 27, 2026)


TSE:8194 Life Corp TSE:8194
86 GF Score
Price 円2,587.00
GF Value 円2,268.51
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Life Beneish M-Score?

Life TSE:8194 +0.70% 86 Beneish M-Score is -3.12 as of Jun. 27, 2026. GuruFocus rates TSE:8194 with a GF Score™ of 86/100 and a GF Value™ of 円2,268.51 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 293 Retail - Defensive companies, Life ranks better than 87.03% 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 -3.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:8194' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12   Med: -2.59   Max: -1.98
Current: -3.12

During the past 13 years, the highest Beneish M-Score of Life was -1.98. The lowest was -3.12. And the median was -2.59.

Life Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Life'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.

Life Beneish M-Score Chart

Life Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.98 -2.63 -2.77 -2.34 -3.12

Life Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.34 0.00 0.00 0.00 -3.12

TSE:8194 vs KR: Beneish M-Score Comparison

For the Grocery Stores subindustry, Life'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.

Life Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Life's Beneish M-Score distribution charts can be found below:

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


TSE:8194
86GF Score
Life Corp TSE:8194
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Life 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 Life 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 * 1.0681+0.528 * 0.9922+0.404 * 1.0712+0.892 * 1.0362+0.115 * 0.9579
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9733+4.679 * -0.166012-0.327 * 0.9541
=-3.12

* 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 (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was 円58,667 Mil.
Revenue was 円881,325 Mil.
Gross Profit was 円299,229 Mil.
Total Current Assets was 円121,530 Mil.
Total Assets was 円335,246 Mil.
Property, Plant and Equipment(Net PPE) was 円157,004 Mil.
Depreciation, Depletion and Amortization(DDA) was 円16,824 Mil.
Selling, General, & Admin. Expense(SGA) was 円49,307 Mil.
Total Current Liabilities was 円144,359 Mil.
Long-Term Debt & Capital Lease Obligation was 円20,474 Mil.
Net Income was 円18,822 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円74,477 Mil.
 Total Receivables was 円53,004 Mil.
Revenue was 円850,495 Mil.
Gross Profit was 円286,501 Mil.
Total Current Assets was 円96,348 Mil.
Total Assets was 円306,027 Mil.
Property, Plant and Equipment(Net PPE) was 円161,351 Mil.
Depreciation, Depletion and Amortization(DDA) was 円16,487 Mil.
Selling, General, & Admin. Expense(SGA) was 円48,886 Mil.
Total Current Liabilities was 円129,927 Mil.
Long-Term Debt & Capital Lease Obligation was 円27,782 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)
=(58667 / 881325) / (53004 / 850495)
=0.066567 / 0.062321
=1.0681

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)
=(286501 / 850495) / (299229 / 881325)
=0.336864 / 0.339522
=0.9922

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 - (121530 + 157004) / 335246) / (1 - (96348 + 161351) / 306027)
=0.169165 / 0.157921
=1.0712

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
=881325 / 850495
=1.0362

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))
=(16487 / (16487 + 161351)) / (16824 / (16824 + 157004))
=0.092708 / 0.096785
=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)
=(49307 / 881325) / (48886 / 850495)
=0.055946 / 0.057479
=0.9733

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)
=((20474 + 144359) / 335246) / ((27782 + 129927) / 306027)
=0.491678 / 0.515343
=0.9541

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
=(18822 - 0 - 74477) / 335246
=-0.166012

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.

Life has a M-score of -3.12 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 -3.12 mean?
Life (TSE:8194) has a Beneish M-Score of -3.12 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Life and its competitors. According to the industry distribution chart, Life ranks #38 out of 293 companies in the Retail - Defensive industry, placing it in the top 13%.
Is Life's Beneish M-Score too high?
Life's current Beneish M-Score is -3.12. Based on the distribution chart, Life ranks #38 out of 293 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers. Overall, Life has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Life's Beneish M-Score compare to KR?
According to the Retail - Defensive industry distribution chart, Life ranks #38 out of 293 companies for Beneish M-Score. This places Life in the top 13% 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Life and its competitors. Life's current Beneish M-Score is -3.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Life stock overvalued right now?
Based on GuruFocus' analysis, Life (TSE:8194) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,268.51, compared to a current price of 円2,587.00 — trading 14% above its estimated fair value. The current Beneish M-Score is -3.12. Life's overall GF Score™ is 86/100 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 Life (TSE:8194), the current Beneish M-Score is -3.12 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 Life (TSE:8194) Overvalued in 2026?

Based on GuruFocus' analysis, Life stock appears to be overvalued. The current stock price of 円2,587.00 is trading 14% above its estimated GF Value™ of 円2,268.51. GuruFocus considers Life to be Modestly Overvalued.

Key valuation signals for TSE:8194:

  • Beneish M-Score: -3.12
  • GF Value™: 円2,268.51 vs. price of 円2,587.00 (14% above fair value)
  • GF Score™: 86/100 with 2 warning signs

No single metric tells the full story. See the TSE:8194 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Life Business Description

Address 2-2-22 Nishimiyahara, Yodogawa-ku, Osaka, JPN, 110-0016
Life Corp is a Japanese supermarket chain operator. The company is domiciled in Japan and generates the majority of revenue domestically. Life Corporation operates stores in Osaka, Tokyo, Hyogo, Kyoto, Nara, Saitama, Chiba, and Kanagawa, and derives the majority of revenue from stores located in Osaka and Tokyo. The company's supermarkets focus on the retail of seafood products, bakery products, food products, fresh fruit and vegetables, meat products, clothing, toilet paper, and craft products. The supermarkets carry a private-label brand of packaged foods.
86GF Score

Get the complete analysis for TSE:8194

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

円2,587.00
Price
円2,268.51
GF Value