Coach A Co (TSE:9339) Beneish M-Score: -3.00 (As of Jul. 13, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:9339 Coach A Co Ltd TSE:9339
72 GF Score
Price 円1,349.00
GF Value 円1,275.49
Valuation Fairly Valued
! 2 Warning Signs
View Full Analysis

What is Coach A Co Beneish M-Score?

Coach A Co TSE:9339 +0.52% 72 Beneish M-Score is -3.00 as of Jul. 13, 2026. GuruFocus rates TSE:9339 with a GF Score™ of 72/100 and a GF Value™ of 円1,275.49 (Fairly Valued). The stock has 2 warning signs investors should review. Among 239 Education companies, Coach A Co ranks better than 78.24% 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 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:9339' s Beneish M-Score Range Over the Past 10 Years
Min: -3   Med: -2.52   Max: -2.01
Current: -3

During the past 6 years, the highest Beneish M-Score of Coach A Co was -2.01. The lowest was -3.00. And the median was -2.52.

Coach A Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Coach A 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.

Coach A Co Beneish M-Score Chart

Coach A Co Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.65 -2.39 -2.01 -3.00

Coach A Co Quarterly Data
Dec20 Dec21 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 0.00 -3.00 0.00

TSE:9339 vs EDU, TAL, LAUR: Beneish M-Score Comparison

For the Education & Training Services subindustry, Coach A 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.

Coach A Co Beneish M-Score vs Education Industry

For the Education industry and Consumer Defensive sector, Coach A Co's Beneish M-Score distribution charts can be found below:

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


TSE:9339
72GF Score
Coach A Co Ltd TSE:9339
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Coach A 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 Coach A 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 * 0.552+0.528 * 1.0622+0.404 * 1.2153+0.892 * 0.9613+0.115 * 0.9459
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.041909-0.327 * 0.9828
=-3.00

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was 円93 Mil.
Revenue was 円3,502 Mil.
Gross Profit was 円1,526 Mil.
Total Current Assets was 円3,648 Mil.
Total Assets was 円4,468 Mil.
Property, Plant and Equipment(Net PPE) was 円72 Mil.
Depreciation, Depletion and Amortization(DDA) was 円85 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,250 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円99 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円286 Mil.
 Total Receivables was 円176 Mil.
Revenue was 円3,643 Mil.
Gross Profit was 円1,686 Mil.
Total Current Assets was 円3,660 Mil.
Total Assets was 円4,346 Mil.
Property, Plant and Equipment(Net PPE) was 円86 Mil.
Depreciation, Depletion and Amortization(DDA) was 円90 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,237 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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)
=(93.196 / 3501.884) / (175.629 / 3642.692)
=0.026613 / 0.048214
=0.552

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)
=(1686.126 / 3642.692) / (1525.98 / 3501.884)
=0.462879 / 0.43576
=1.0622

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 - (3647.854 + 72.064) / 4468.489) / (1 - (3660.31 + 86.385) / 4345.732)
=0.167522 / 0.137845
=1.2153

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
=3501.884 / 3642.692
=0.9613

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))
=(90.209 / (90.209 + 86.385)) / (84.61 / (84.61 + 72.064))
=0.510827 / 0.540039
=0.9459

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)
=(0 / 3501.884) / (0 / 3642.692)
=0 / 0
=1

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)
=((0 + 1249.912) / 4468.489) / ((0 + 1236.789) / 4345.732)
=0.279717 / 0.284599
=0.9828

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
=(98.819 - 0 - 286.087) / 4468.489
=-0.041909

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.

Coach A Co has a M-score of -3.00 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 -3.00 mean?
Coach A Co (TSE:9339) has a Beneish M-Score of -3.00 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Coach A Co and its competitors. According to the industry distribution chart, Coach A Co ranks #52 out of 239 companies in the Education industry, placing it in the top 21.8%.
Is Coach A Co's Beneish M-Score too high?
Coach A Co's current Beneish M-Score is -3.00. Based on the distribution chart, Coach A Co ranks #52 out of 239 companies in the Education industry, which is in the top quartile — a strong position relative to peers. Overall, Coach A Co has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Coach A Co's Beneish M-Score compare to EDU and TAL?
According to the Education industry distribution chart, Coach A Co ranks #52 out of 239 companies for Beneish M-Score. This places Coach A Co in the top 22% 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 an Education company?
A good Beneish M-Score depends on the Education 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 Coach A Co and its competitors. Coach A Co's current Beneish M-Score is -3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coach A Co stock overvalued right now?
Based on GuruFocus' analysis, Coach A Co (TSE:9339) is currently considered Fairly Valued. The stock's GF Value™ is 円1,275.49, compared to a current price of 円1,349.00 — trading 5.8% above its estimated fair value. The current Beneish M-Score is -3.00. Coach A Co's overall GF Score™ is 72/100 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 Coach A Co (TSE:9339), the current Beneish M-Score is -3.00 as of Jul. 13, 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 Coach A Co (TSE:9339) Overvalued in 2026?

Based on GuruFocus' analysis, Coach A Co stock appears to be overvalued. The current stock price of 円1,349.00 is trading 5.8% above its estimated GF Value™ of 円1,275.49. GuruFocus considers Coach A Co to be Fairly Valued.

Key valuation signals for TSE:9339:

  • Beneish M-Score: -3.00
  • GF Value™: 円1,275.49 vs. price of 円1,349.00 (5.8% above fair value)
  • GF Score™: 72/100 with 2 warning signs

No single metric tells the full story. See the TSE:9339 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Coach A Co Business Description

Address 2-1-30 Kudanminami, Italian Cultural Institute Building, Chiyoda-ku, Tokyo, JPN, 102-0074
Coach A Co Ltd is a coaching firm focused on organizational development business through Systemic Coaching and coaching human resource development business. It facilitates organizational and human resource development by providing various coaching services such as executive coaching, transition coaching, conducting business execution workshops and assessments, and conducting one-on-one and online classes for middle management employees, etc. In addition, the group also offers various online resources for coaching information, coaching content, and coaching management tools, such as Test.jP, CSES, Hello Coaching, and others. The group operates in a single segment, the coaching business. Geographically, it offers services in Japan and other markets of Asia and the United States.
72GF Score

Get the complete analysis for TSE:9339

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

円1,349.00
Price
円1,275.49
GF Value