CUC (TSE:9158) Beneish M-Score: -2.62 (As of Jun. 30, 2026)


TSE:9158 CUC Inc TSE:9158
72 GF Score
Price 円775.00
GF Value 円2,236.95
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is CUC Beneish M-Score?

CUC TSE:9158 -2.76% 72 Beneish M-Score is -2.62 as of Jun. 30, 2026. GuruFocus rates TSE:9158 with a GF Score™ of 72/100 and a GF Value™ of 円2,236.95 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 630 Healthcare Providers & Services companies, CUC ranks better than 53.65% 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 -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:9158' s Beneish M-Score Range Over the Past 10 Years
Min: -2.62   Med: -2.57   Max: -2.2
Current: -2.62

During the past 7 years, the highest Beneish M-Score of CUC was -2.20. The lowest was -2.62. And the median was -2.57.

CUC Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CUC'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.

CUC Beneish M-Score Chart

CUC Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial -2.20 -2.61 -2.57 -2.26 -2.62

CUC Semi-Annual Data
Mar20 Mar21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only -2.57 -2.01 -2.26 -2.23 -2.62

TSE:9158 vs HCA, THC, DVA: Beneish M-Score Comparison

For the Medical Care Facilities subindustry, CUC'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.

CUC Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, CUC's Beneish M-Score distribution charts can be found below:

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


TSE:9158
72GF Score
CUC Inc TSE:9158
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CUC 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 CUC 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 * 0.9324+0.528 * 1.0535+0.404 * 0.8184+0.892 * 1.1554+0.115 * 0.7748
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0248+4.679 * -0.029086-0.327 * 1.0229
=-2.62

* 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13,090 Mil.
Revenue was 円54,353 Mil.
Gross Profit was 円25,413 Mil.
Total Current Assets was 円30,132 Mil.
Total Assets was 円98,054 Mil.
Property, Plant and Equipment(Net PPE) was 円43,033 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,896 Mil.
Selling, General, & Admin. Expense(SGA) was 円21,795 Mil.
Total Current Liabilities was 円14,840 Mil.
Long-Term Debt & Capital Lease Obligation was 円45,705 Mil.
Net Income was 円2,854 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円5,706 Mil.
 Total Receivables was 円12,151 Mil.
Revenue was 円47,043 Mil.
Gross Profit was 円23,172 Mil.
Total Current Assets was 円20,520 Mil.
Total Assets was 円85,167 Mil.
Property, Plant and Equipment(Net PPE) was 円38,231 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,286 Mil.
Selling, General, & Admin. Expense(SGA) was 円18,407 Mil.
Total Current Liabilities was 円13,446 Mil.
Long-Term Debt & Capital Lease Obligation was 円37,963 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)
=(13090 / 54353) / (12151 / 47043)
=0.240833 / 0.258296
=0.9324

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)
=(23172 / 47043) / (25413 / 54353)
=0.492571 / 0.467555
=1.0535

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 - (30132 + 43033) / 98054) / (1 - (20520 + 38231) / 85167)
=0.25383 / 0.310167
=0.8184

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
=54353 / 47043
=1.1554

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))
=(3286 / (3286 + 38231)) / (4896 / (4896 + 43033))
=0.079148 / 0.102151
=0.7748

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)
=(21795 / 54353) / (18407 / 47043)
=0.40099 / 0.39128
=1.0248

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)
=((45705 + 14840) / 98054) / ((37963 + 13446) / 85167)
=0.617466 / 0.603626
=1.0229

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
=(2854 - 0 - 5706) / 98054
=-0.029086

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.

CUC has a M-score of -2.62 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 -2.62 mean?
CUC (TSE:9158) has a Beneish M-Score of -2.62 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CUC and its competitors. According to the industry distribution chart, CUC ranks #292 out of 630 companies in the Healthcare Providers & Services industry, placing it in the top 46.3%.
Is CUC's Beneish M-Score too high?
CUC's current Beneish M-Score is -2.62. Based on the distribution chart, CUC ranks #292 out of 630 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, CUC has a GF Score™ of 72/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does CUC's Beneish M-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, CUC ranks #292 out of 630 companies for Beneish M-Score. This puts CUC 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & 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 CUC and its competitors. CUC's current Beneish M-Score is -2.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CUC stock overvalued right now?
Based on GuruFocus' analysis, CUC (TSE:9158) is currently considered Possible Value Trap. The stock's GF Value™ is 円2,236.95, compared to a current price of 円775.00 — trading 65.4% below its estimated fair value. The current Beneish M-Score is -2.62. CUC's overall GF Score™ is 72/100 with 5 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 CUC (TSE:9158), the current Beneish M-Score is -2.62 as of Jun. 30, 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 CUC (TSE:9158) Overvalued in 2026?

Based on GuruFocus' analysis, CUC stock appears to be undervalued. The current stock price of 円775.00 is trading 65.4% below its estimated GF Value™ of 円2,236.95. GuruFocus considers CUC to be Possible Value Trap.

Key valuation signals for TSE:9158:

  • Beneish M-Score: -2.62
  • GF Value™: 円2,236.95 vs. price of 円775.00 (65.4% below fair value)
  • GF Score™: 72/100 with 5 warning signs

No single metric tells the full story. See the TSE:9158 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

CUC Business Description

Address 3-1-1 Shibaura,, 15th floor, msb Tamachi Tamachi Station Tower N, Minato-ku, Tokyo, JPN, 108-0023
CUC Inc is engaged in Management support business for medical institutions, in-home nursing businesses, and hospice businesses. The company supports home-visit clinics where medical professionals visit the homes and facilities of patients who find it difficult to visit hospitals. It operates a home hospice specializing in caring for people with terminal cancer and intractable diseases and home-visit nursing and nursing care offices (visit only within the facility). We provide mental and physical support so users and their families can lead a positive treatment life.
72GF Score

Get the complete analysis for TSE:9158

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

円775.00
Price
円2,236.95
GF Value