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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 -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Berli Jucker PCL's Beneish M-Score or its related term are showing as below:
BKK:BJC'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.97 Med: -2.82 Max: -0.45
Current: -2.95
During the past 13 years, the highest Beneish M-Score of Berli Jucker PCL was -0.45. The lowest was -2.97. And the median was -2.82.
Berli Jucker PCL Beneish M-Score Related Terms
Berli Jucker PCL Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Berli Jucker 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 Conglomerates subindustry, Berli Jucker 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.
Berli Jucker PCL Beneish M-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Berli Jucker PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Berli Jucker 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 Berli Jucker 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 * 0.9758
+
0.528 * 0.9924
+
0.404 * 0.9899
+
0.892 * 0.9754
+
0.115 * 1.0383
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0536
+
4.679 * -0.088591
-
0.327 * 1.0037
=
-2.95
* 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))
=
(9328.669 / (9328.669 + 79695.085))
/
(9267.464 / (9267.464 + 82557.477))
=
0.104789
/
0.100925
=
1.0383
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
=
(3977.31 - 13171.109
-
20519.463)
/
335399.076
=
-0.088591
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.
Berli Jucker PCL has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.
Berli Jucker PCL (BKK:BJC) has a Beneish M-Score of -2.95 as of Jul. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Berli Jucker PCL and its competitors. According to the industry distribution chart, Berli Jucker PCL ranks #76 out of 539 companies in the Conglomerates industry, placing it in the top 14.1%.
Is Berli Jucker PCL's Beneish M-Score too high?
Berli Jucker PCL's current Beneish M-Score is -2.95. Based on the distribution chart, Berli Jucker PCL ranks #76 out of 539 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Berli Jucker PCL has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Berli Jucker PCL's Beneish M-Score compare to MMM and HON?
According to the Conglomerates industry distribution chart, Berli Jucker PCL ranks #76 out of 539 companies for Beneish M-Score. This places Berli Jucker PCL in the top 14% 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 Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 Berli Jucker PCL and its competitors. Berli Jucker PCL's current Beneish M-Score is -2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Berli Jucker PCL stock overvalued right now?
Based on GuruFocus' analysis, Berli Jucker PCL (BKK:BJC) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿22.44, compared to a current price of ฿16.20 — trading 27.8% below its estimated fair value. The current Beneish M-Score is -2.95. Berli Jucker PCL's overall GF Score™ is 66/100 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 Berli Jucker PCL (BKK:BJC), the current Beneish M-Score is -2.95 as of Jul. 28, 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 Berli Jucker PCL (BKK:BJC) Overvalued in 2026?
Based on GuruFocus' analysis, Berli Jucker PCL stock appears to be undervalued.
The current stock price of ฿16.20 is trading 27.8% below its estimated GF Value™ of ฿22.44.
GuruFocus considers Berli Jucker PCL to be Modestly Undervalued.
Key valuation signals for BKK:BJC:
Beneish M-Score: -2.95
GF Value™: ฿22.44 vs. price of ฿16.20 (27.8% below fair value)
No single metric tells the full story. See the BKK:BJC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Berli Jucker PCL is engaged in the manufacturing and sales of containers, personal care, and healthcare products. The firm operates through five segments based on the product type. The packaging supply chain segment, which sells glass containers, aluminum cans, and plastic packaging products. The consumer supply chain segment, which sells Food, Non-Food, Logistics, and Manufacturing and distribution in Vietnam. The healthcare & technical supply chain segment sells chemicals, engineering products & systems, pharmaceuticals, & hospital supplies. The modern retail supply chain operates various types of modern trade, which are wholesale business serving B2B customers, bookstore business, coffee shop business, drug store business, & Others. Maximum revenue from the Modern retail supply segment.
66GF Score
Get the complete analysis for BKK:BJC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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