PT Perdana Bangun Pusaka Tbk (ISX:KONI) Beneish M-Score : -2.09 (As of Jun. 03, 2024)

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What is PT Perdana Bangun Pusaka Tbk Beneish M-Score?

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 -2.09 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for PT Perdana Bangun Pusaka Tbk's Beneish M-Score or its related term are showing as below:

ISX:KONI' s Beneish M-Score Range Over the Past 10 Years
Min: -4.34 Med: -2.18 Max: -0.02
Current: -2.09

During the past 13 years, the highest Beneish M-Score of PT Perdana Bangun Pusaka Tbk was -0.02. The lowest was -4.34. And the median was -2.18.

PT Perdana Bangun Pusaka Tbk Beneish M-Score Historical Data

The historical data trend for PT Perdana Bangun Pusaka Tbk'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.

* Premium members only.

PT Perdana Bangun Pusaka Tbk Beneish M-Score Chart

PT Perdana Bangun Pusaka Tbk Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.35

-3.35

-2.06

-2.94

-1.49

PT Perdana Bangun Pusaka Tbk Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-0.02	-0.37	-0.54	-1.49	-2.09

Competitive Comparison of PT Perdana Bangun Pusaka Tbk's Beneish M-Score

For the Specialty Retail subindustry, PT Perdana Bangun Pusaka Tbk'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.

PT Perdana Bangun Pusaka Tbk's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, PT Perdana Bangun Pusaka Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Perdana Bangun Pusaka Tbk's Beneish M-Score falls into.

PT Perdana Bangun Pusaka Tbk 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 PT Perdana Bangun Pusaka Tbk 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 * 0.9199

0.528 * 1.0164

0.404 * 0.8576

0.892 * 1.3903

0.115 * 0.5398

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.893

4.679 * 0.075516

0.327 * 1.4618

-2.09

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was Rp20,832 Mil.
Revenue was 47416.39 + 84368.545 + 59581.069 + 65449.479 = Rp256,815 Mil.
Gross Profit was 10029.729 + 22190.06 + 11928.149 + 13371.64 = Rp57,520 Mil.
Total Current Assets was Rp118,880 Mil.
Total Assets was Rp154,501 Mil.
Property, Plant and Equipment(Net PPE) was Rp22,635 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp830 Mil.
Selling, General, & Admin. Expense(SGA) was Rp8,117 Mil.
Total Current Liabilities was Rp2,961 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was 1510.566 + 9132.272 + 3392.75 + 4589.437 = Rp18,625 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -2473.765 + -4687.243 + 15036.98 + -918.27 = Rp6,958 Mil.

Total Receivables was Rp16,288 Mil.
Revenue was 41594.349 + 57485.641 + 47755.747 + 37878.778 = Rp184,715 Mil.
Gross Profit was 8735.389 + 15532.063 + 9315.681 + 8464.914 = Rp42,048 Mil.
Total Current Assets was Rp102,322 Mil.
Total Assets was Rp135,799 Mil.
Property, Plant and Equipment(Net PPE) was Rp20,168 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp393 Mil.
Selling, General, & Admin. Expense(SGA) was Rp6,537 Mil.
Total Current Liabilities was Rp1,780 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 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)
	=	(20832.368 / 256815.483)	/	(16288.451 / 184714.515)
	=	0.081118	/	0.088182
	=	0.9199

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)
	=	(42048.047 / 184714.515)	/	(57519.578 / 256815.483)
	=	0.227638	/	0.223972
	=	1.0164

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 - (118880.263 + 22635.224) / 154500.716)	/	(1 - (102322.405 + 20168.222) / 135798.601)
	=	0.084046	/	0.097998
	=	0.8576

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
	=	256815.483	/	184714.515
	=	1.3903

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))
	=	(392.588 / (392.588 + 20168.222))	/	(830.002 / (830.002 + 22635.224))
	=	0.019094	/	0.035372
	=	0.5398

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)
	=	(8116.536 / 256815.483)	/	(6537.234 / 184714.515)
	=	0.031605	/	0.035391
	=	0.893

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 + 2961.218) / 154500.716)	/	((0 + 1780.465) / 135798.601)
	=	0.019166	/	0.013111
	=	1.4618

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
	=	(18625.025 - 0	-	6957.702)	/	154500.716
	=	0.075516

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.

PT Perdana Bangun Pusaka Tbk has a M-score of -2.09 suggests that the company is unlikely to be a manipulator.

PT Perdana Bangun Pusaka Tbk Beneish M-Score Related Terms

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PT Perdana Bangun Pusaka Tbk (ISX:KONI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » PT Perdana Bangun Pusaka Tbk (ISX:KONI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jalan Gunung Sahari No. 78, Gedung Konica Lantai 6, Kemayoran, Central Jakarta, Jakarta, IDN, 10610

Website

https://www.perdanabangunpusaka.co.id

PT Perdana Bangun Pusaka Tbk is mainly engaged in the sale and distribution of photographic products. The company's operating segments include Trading and Services. It generates maximum revenue from the Trading segment. Its product portfolio includes chemical supplies, film and x-ray film, vinyl/flex banners, frames, Dye-Sub printers, DNP Media printers, and other finished products.

PT Perdana Bangun Pusaka Tbk (ISX:KONI) Headlines

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