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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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for SKY Perfect JSAT's Beneish M-Score or its related term are showing as below:
TSE:9412'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.18 Med: -2.76 Max: 0.02
Current: -2.78
During the past 13 years, the highest Beneish M-Score of SKY Perfect JSAT was 0.02. The lowest was -3.18. And the median was -2.76.
SKY Perfect JSAT Beneish M-Score Related Terms
SKY Perfect JSAT Beneish M-Score Historical Data
* Premium members only.
The historical data trend for SKY Perfect JSAT'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.
For the Broadcasting subindustry, SKY Perfect JSAT'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.
SKY Perfect JSAT Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, SKY Perfect JSAT's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SKY Perfect JSAT'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 SKY Perfect JSAT 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 * 0.857
+
0.528 * 0.9401
+
0.404 * 1.1595
+
0.892 * 1.0312
+
0.115 * 1.4766
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.074446
-
0.327 * 0.8163
=
-2.78
* 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))
=
(18283 / (18283 + 115184))
/
(15463 / (15463 + 151212))
=
0.136985
/
0.092773
=
1.4766
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
=
(23311 - 0
-
53667)
/
407759
=
-0.074446
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.
SKY Perfect JSAT has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
SKY Perfect JSAT (TSE:9412) has a Beneish M-Score of -2.78 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SKY Perfect JSAT and its competitors. According to the industry distribution chart, SKY Perfect JSAT ranks #350 out of 976 companies in the Media - Diversified industry, placing it in the top 35.9%.
Is SKY Perfect JSAT's Beneish M-Score too high?
SKY Perfect JSAT's current Beneish M-Score is -2.78. Based on the distribution chart, SKY Perfect JSAT ranks #350 out of 976 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, SKY Perfect JSAT has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SKY Perfect JSAT's Beneish M-Score compare to NXST?
According to the Media - Diversified industry distribution chart, SKY Perfect JSAT ranks #350 out of 976 companies for Beneish M-Score. This puts SKY Perfect JSAT 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 SKY Perfect JSAT and its competitors. SKY Perfect JSAT's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SKY Perfect JSAT stock overvalued right now?
Based on GuruFocus' analysis, SKY Perfect JSAT (TSE:9412) is currently considered Significantly Overvalued. The stock's GF Value™ is 円991.34, compared to a current price of 円2,487.00 — trading 150.9% above its estimated fair value. The current Beneish M-Score is -2.78. SKY Perfect JSAT's overall GF Score™ is 68/100. 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 SKY Perfect JSAT (TSE:9412), the current Beneish M-Score is -2.78 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 SKY Perfect JSAT (TSE:9412) Overvalued in 2026?
Based on GuruFocus' analysis, SKY Perfect JSAT stock appears to be overvalued.
The current stock price of 円2,487.00 is trading 150.9% above its estimated GF Value™ of 円991.34.
GuruFocus considers SKY Perfect JSAT to be Significantly Overvalued.
Key valuation signals for TSE:9412:
Beneish M-Score: -2.78
GF Value™: 円991.34 vs. price of 円2,487.00 (150.9% above fair value)
No single metric tells the full story. See the TSE:9412 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SKY Perfect JSAT Corp is a Japan-based company engaged in providing broadcasting and communication services. The company consists of two operating divisions, which are Media Business and Space Business. The Media Business offers platform services such as customer management activities to broadcasting and streaming businesses and Fiber optic alliance, and others. While Space Business offers telecommunication business, space intelligence business, and others.
68GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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