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AKS PCLBKK:AKS Beneish M-Score is -4.46 as of Aug. 08, 2026. The stock has 7 warning signs investors should review. Among 1,681 Real Estate companies, AKS PCL ranks better than 96.67% 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 -4.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for AKS PCL's Beneish M-Score or its related term are showing as below:
BKK:AKS'
s Beneish M-Score Range Over the Past 10 Years
Min: -23.2 Med: -2.2 Max: 59.89
Current: -4.46
During the past 13 years, the highest Beneish M-Score of AKS PCL was 59.89. The lowest was -23.20. And the median was -2.20.
The historical data trend for AKS PCL'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 Real Estate - Development subindustry, AKS PCL'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.
AKS PCL Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, AKS PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AKS PCL'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 AKS PCL 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 * 2.3186
+
0.528 * -1.1986
+
0.404 * 0.9191
+
0.892 * 0.2789
+
0.115 * 1.2254
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 2.088
+
4.679 * -0.216172
-
0.327 * 1.5577
=
-4.46
* 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))
=
(72.494 / (72.494 + 379.881))
/
(32.178 / (32.178 + 213.887))
=
0.160252
/
0.13077
=
1.2254
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
=
(-2327.26 - -1910.265
-
492.074)
/
4205.311
=
-0.216172
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.
AKS PCL has a M-score of -4.46 suggests that the company is unlikely to be a manipulator.
AKS PCL (BKK:AKS) has a Beneish M-Score of -4.46 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AKS PCL and its competitors. According to the industry distribution chart, AKS PCL ranks #56 out of 1681 companies in the Real Estate industry, placing it in the top 3.3%.
Is AKS PCL's Beneish M-Score too high?
AKS PCL's current Beneish M-Score is -4.46. Based on the distribution chart, AKS PCL ranks #56 out of 1681 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers.
How does AKS PCL's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, AKS PCL ranks #56 out of 1681 companies for Beneish M-Score. This places AKS PCL in the top 3% 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 a Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 AKS PCL and its competitors. AKS PCL's current Beneish M-Score is -4.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AKS PCL stock overvalued right now?
Based on GuruFocus' analysis, AKS PCL (BKK:AKS) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.06, compared to a current price of ฿0.01 — trading 83.3% below its estimated fair value. The current Beneish M-Score is -4.46. 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 AKS PCL (BKK:AKS), the current Beneish M-Score is -4.46 as of Aug. 08, 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.
AKS Corp PCL is engaged in property development and sales. The company's segments include Property development low rise; Property development high rise; Services, Business Loans, and Other. The majority of its revenue is derived from the Property development low-rise segment with all of the operations in Thailand.
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