Bangkok Land PCLBKK:BLAND 55 Beneish M-Score is -2.57 as of Jun. 25, 2026. GuruFocus rates BKK:BLAND with a GF Score™ of 55/100 and a GF Value™ of ฿0.61 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,682 Real Estate companies, Bangkok Land PCL ranks better than 63.79% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Bangkok Land PCL's Beneish M-Score or its related term are showing as below:
BKK:BLAND'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.75 Med: -2.56 Max: -0.34
Current: -2.57
During the past 13 years, the highest Beneish M-Score of Bangkok Land PCL was -0.34. The lowest was -3.75. And the median was -2.56.
Bangkok Land PCL Beneish M-Score Related Terms
Bangkok Land PCL Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Bangkok Land 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:BLAND vs CBRE, BEKE: Beneish M-Score Comparison
For the Real Estate Services subindustry, Bangkok Land 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.
Bangkok Land PCL Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Bangkok Land PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bangkok Land 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 Bangkok Land 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 * 1.2649
+
0.528 * 0.9061
+
0.404 * 1.0186
+
0.892 * 0.8869
+
0.115 * 0.9741
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2937
+
4.679 * -0.02978
-
0.327 * 0.9915
=
-2.57
* 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))
=
(671.579 / (671.579 + 16353.218))
/
(685.967 / (685.967 + 16252.714))
=
0.039447
/
0.040497
=
0.9741
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
=
(659.523 - 1462.734
-
1296.29)
/
70500.923
=
-0.02978
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.
Bangkok Land PCL has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
Bangkok Land PCL (BKK:BLAND) has a Beneish M-Score of -2.57 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bangkok Land PCL and its competitors. According to the industry distribution chart, Bangkok Land PCL ranks #609 out of 1682 companies in the Real Estate industry, placing it in the top 36.2%.
Is Bangkok Land PCL's Beneish M-Score too high?
Bangkok Land PCL's current Beneish M-Score is -2.57. Based on the distribution chart, Bangkok Land PCL ranks #609 out of 1682 companies in the Real Estate industry, which is above the industry midpoint. Overall, Bangkok Land PCL has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bangkok Land PCL's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Bangkok Land PCL ranks #609 out of 1682 companies for Beneish M-Score. This puts Bangkok Land PCL 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 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 Bangkok Land PCL and its competitors. Bangkok Land PCL's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bangkok Land PCL stock overvalued right now?
Based on GuruFocus' analysis, Bangkok Land PCL (BKK:BLAND) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿0.61, compared to a current price of ฿0.44 — trading 27.9% below its estimated fair value. The current Beneish M-Score is -2.57. Bangkok Land PCL's overall GF Score™ is 55/100 with 3 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 Bangkok Land PCL (BKK:BLAND), the current Beneish M-Score is -2.57 as of Jun. 25, 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 Bangkok Land PCL (BKK:BLAND) Overvalued in 2026?
Based on GuruFocus' analysis, Bangkok Land PCL stock appears to be undervalued.
The current stock price of ฿0.44 is trading 27.9% below its estimated GF Value™ of ฿0.61.
GuruFocus considers Bangkok Land PCL to be Modestly Undervalued.
Key valuation signals for BKK:BLAND:
Beneish M-Score: -2.57
GF Value™: ฿0.61 vs. price of ฿0.44 (27.9% below fair value)
No single metric tells the full story. See the BKK:BLAND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bangkok Land PCL is engaged in real estate development, exhibition and convention, food and beverage, and investments in hotels and education. The Company is committed to developing large-scale urban community projects into modern, all-in-one hubs. It offers a comprehensive range of services, including the Impact Exhibition and Convention Center, hotels, residential projects, commercial buildings, and retail spaces. The area is equipped with complete infrastructure and amenities and is served by the extended Pink Line mass transit system. The Company operates through four segments: Real Estate Business, Retail Business, Exhibition Center Business, and Other Services. The Exhibition Center Business generates the majority of revenue. The Company operates in Thailand.
55GF Score
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