transcosmos (TSE:9715) Beneish M-Score: -2.56 (As of Jul. 11, 2026)

What is transcosmos Beneish M-Score?

transcosmos TSE:9715 -0.27% 81 Beneish M-Score is -2.56 as of Jul. 11, 2026. GuruFocus rates TSE:9715 with a GF Score™ of 81/100 and a GF Value™ of 円3,732.54 (Fairly Valued). The stock has 2 warning signs investors should review. Among 2,627 Software companies, transcosmos ranks better than 51.2% 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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:9715' s Beneish M-Score Range Over the Past 10 Years
Min: -2.94 Med: -2.59 Max: -2.13
Current: -2.56

During the past 13 years, the highest Beneish M-Score of transcosmos was -2.13. The lowest was -2.94. And the median was -2.59.

transcosmos Beneish M-Score Related Terms

transcosmos Beneish M-Score Historical Data

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The historical data trend for transcosmos'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.

transcosmos Beneish M-Score Chart

transcosmos Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.13

-2.69

-2.71

-2.61

-2.56

transcosmos Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.61	0.00	0.00	0.00	-2.56

TSE:9715 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, transcosmos'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.

transcosmos Beneish M-Score vs Software Industry

For the Software industry and Technology sector, transcosmos's Beneish M-Score distribution charts can be found below:

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

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81GF Score

transcosmos inc TSE:9715

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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transcosmos 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 transcosmos for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0351

0.528 * 0.9878

0.404 * 1.0127

0.892 * 1.0479

0.115 * 1.0654

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.034289

0.327 * 0.9929

-2.56

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円75,393 Mil.
Revenue was 円393,866 Mil.
Gross Profit was 円76,643 Mil.
Total Current Assets was 円167,528 Mil.
Total Assets was 円223,865 Mil.
Property, Plant and Equipment(Net PPE) was 円14,669 Mil.
Depreciation, Depletion and Amortization(DDA) was 円5,655 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円79,316 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,252 Mil.
Net Income was 円13,084 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円20,760 Mil.

Total Receivables was 円69,506 Mil.
Revenue was 円375,849 Mil.
Gross Profit was 円72,244 Mil.
Total Current Assets was 円154,658 Mil.
Total Assets was 円207,984 Mil.
Property, Plant and Equipment(Net PPE) was 円15,099 Mil.
Depreciation, Depletion and Amortization(DDA) was 円6,362 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円62,014 Mil.
Long-Term Debt & Capital Lease Obligation was 円14,313 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)
	=	(75393 / 393866)	/	(69506 / 375849)
	=	0.191418	/	0.184931
	=	1.0351

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)
	=	(72244 / 375849)	/	(76643 / 393866)
	=	0.192215	/	0.194592
	=	0.9878

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 - (167528 + 14669) / 223865)	/	(1 - (154658 + 15099) / 207984)
	=	0.18613	/	0.183798
	=	1.0127

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
	=	393866	/	375849
	=	1.0479

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))
	=	(6362 / (6362 + 15099))	/	(5655 / (5655 + 14669))
	=	0.296445	/	0.278242
	=	1.0654

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 / 393866)	/	(0 / 375849)
	=	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)
	=	((2252 + 79316) / 223865)	/	((14313 + 62014) / 207984)
	=	0.364362	/	0.366985
	=	0.9929

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
	=	(13084 - 0	-	20760)	/	223865
	=	-0.034289

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.

transcosmos has a M-score of -2.56 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 -2.56 mean?

transcosmos (TSE:9715) has a Beneish M-Score of -2.56 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on transcosmos and its competitors. According to the industry distribution chart, transcosmos ranks #1282 out of 2627 companies in the Software industry, placing it in the top 48.8%.

Is transcosmos' Beneish M-Score too high?

transcosmos' current Beneish M-Score is -2.56. Based on the distribution chart, transcosmos ranks #1282 out of 2627 companies in the Software industry, which is above the industry midpoint. Overall, transcosmos has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does transcosmos' Beneish M-Score compare to IBM and ACN?

According to the Software industry distribution chart, transcosmos ranks #1282 out of 2627 companies for Beneish M-Score. This puts transcosmos 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 Software company?

A good Beneish M-Score depends on the Software 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 transcosmos and its competitors. transcosmos's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is transcosmos stock overvalued right now?

Based on GuruFocus' analysis, transcosmos (TSE:9715) is currently considered Fairly Valued. The stock's GF Value™ is 円3,732.54, compared to a current price of 円3,650.00 — trading 2.2% below its estimated fair value. The current Beneish M-Score is -2.56. transcosmos' overall GF Score™ is 81/100 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 transcosmos (TSE:9715), the current Beneish M-Score is -2.56 as of Jul. 11, 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 transcosmos (TSE:9715) Overvalued in 2026?

Based on GuruFocus' analysis, transcosmos stock appears to be undervalued. The current stock price of 円3,650.00 is trading 2.2% below its estimated GF Value™ of 円3,732.54. GuruFocus considers transcosmos to be Fairly Valued.

Key valuation signals for TSE:9715:

Beneish M-Score: -2.56
GF Value™: 円3,732.54 vs. price of 円3,650.00 (2.2% below fair value)
GF Score™: 81/100 with 2 warning signs

No single metric tells the full story. See the TSE:9715 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

transcosmos Business Description

Industry Technology Software

Comparable Companies TSE:4722 TSE:2317 TSE:9682 TSE:3778 TSE:9746 TSE:4819 TSE:4413 TSE:9889 TSE:3636 TSE:3762 IBM NSE:TCS ACN NSE:INFY TSE:6702 TSE:6701 NSE:HCLTECH FISV XMAD:AMS FIS

Other Exchanges TSQ:Germany

Address 3-25-18, Shibuya, Shibuya-ku, Tokyo, JPN, 150-8530

Website http://www.trans-cosmos.co.jp

transcosmos inc is a Japan-based company that provides business process outsourcing services. Offerings of the company are generally categorized into four types, namely outsourcing services, digital marketing, contact center, and e-commerce one-stop services. The outsourcing services support clients' noncore operations, including back-office operations, accounting, human resources, IT operation and maintenance, and others. The digital market services support clients' marketing activities by internet infrastructure. The contact center services help customers deal with customer inquiries and complaints. The e-commerce one-stop services cover e-commerce sit construction, customer care, Internet promotion and analytics.

81GF Score

Get the complete analysis for TSE:9715

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

円3,650.00

Price

円3,732.54

GF Value

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