ATP30 PCLBKK:ATP30 73 Beneish M-Score is -3.00 as of Jun. 27, 2026. GuruFocus rates BKK:ATP30 with a GF Score™ of 73/100 and a GF Value™ of ฿1.06 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 966 Transportation companies, ATP30 PCL ranks better than 84.16% 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 ATP30 PCL's Beneish M-Score or its related term are showing as below:
BKK:ATP30'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.44 Med: -2.79 Max: -0.01
Current: -3
During the past 12 years, the highest Beneish M-Score of ATP30 PCL was -0.01. The lowest was -3.44. And the median was -2.79.
ATP30 PCL Beneish M-Score Related Terms
ATP30 PCL Beneish M-Score Historical Data
* Premium members only.
The historical data trend for ATP30 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.
BKK:ATP30 vs UNP, CSX, NSC: Beneish M-Score Comparison
For the Railroads subindustry, ATP30 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.
ATP30 PCL Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, ATP30 PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ATP30 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 ATP30 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 * 0.9058
+
0.528 * 0.9897
+
0.404 * 1.0762
+
0.892 * 1.0571
+
0.115 * 0.9984
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0216
+
4.679 * -0.110451
-
0.327 * 0.9619
=
-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.
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))
=
(96.578 / (96.578 + 1086.416))
/
(99.075 / (99.075 + 1112.61))
=
0.081639
/
0.081766
=
0.9984
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
=
(52.931 - 0
-
196.597)
/
1300.725
=
-0.110451
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.
ATP30 PCL has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.
ATP30 PCL (BKK:ATP30) has a Beneish M-Score of -3.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ATP30 PCL and its competitors. According to the industry distribution chart, ATP30 PCL ranks #153 out of 966 companies in the Transportation industry, placing it in the top 15.8%.
Is ATP30 PCL's Beneish M-Score too high?
ATP30 PCL's current Beneish M-Score is -3.00. Based on the distribution chart, ATP30 PCL ranks #153 out of 966 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, ATP30 PCL has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ATP30 PCL's Beneish M-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, ATP30 PCL ranks #153 out of 966 companies for Beneish M-Score. This places ATP30 PCL in the top 16% 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 ATP30 PCL and its competitors. ATP30 PCL'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 ATP30 PCL stock overvalued right now?
Based on GuruFocus' analysis, ATP30 PCL (BKK:ATP30) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿1.06, compared to a current price of ฿0.85 — trading 19.8% below its estimated fair value. The current Beneish M-Score is -3.00. ATP30 PCL's overall GF Score™ is 73/100 with 5 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 ATP30 PCL (BKK:ATP30), the current Beneish M-Score is -3.00 as of Jun. 27, 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 ATP30 PCL (BKK:ATP30) Overvalued in 2026?
Based on GuruFocus' analysis, ATP30 PCL stock appears to be undervalued.
The current stock price of ฿0.85 is trading 19.8% below its estimated GF Value™ of ฿1.06.
GuruFocus considers ATP30 PCL to be Modestly Undervalued.
Key valuation signals for BKK:ATP30:
Beneish M-Score: -3.00
GF Value™: ฿1.06 vs. price of ฿0.85 (19.8% below fair value)
No single metric tells the full story. See the BKK:ATP30 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ATP30 PCL is principally engaged in the business of providing bus transport services in Thailand. The transportation service is offered through different vehicles, including buses, minibuses, microbuses, VIP buses, and vans. The group provides transportation services for employees of diverse industries between their homes and industrial estates. It holds a non-scheduled transportation operator license from the Department of Land Transport of Thailand. The four principal operating segments of the group are the transport services segment, the management services segment, the vehicle rental segment, and the maintenance services segment.
73GF Score
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