CK Power PCLBKK:CKP -0.83%70 Beneish M-Score is -2.99 as of Jun. 29, 2026. GuruFocus rates BKK:CKP with a GF Score™ of 70/100 and a GF Value™ of ฿2.92 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, CK Power PCL ranks better than 79.23% 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 -2.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CK Power PCL's Beneish M-Score or its related term are showing as below:
BKK:CKP'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.43 Med: -2.55 Max: -1.74
Current: -2.99
During the past 13 years, the highest Beneish M-Score of CK Power PCL was -1.74. The lowest was -3.43. And the median was -2.55.
CK Power PCL Beneish M-Score Related Terms
CK Power PCL Beneish M-Score Historical Data
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The historical data trend for CK Power 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:CKP vs CEG, VST, NRG: Beneish M-Score Comparison
For the Utilities - Independent Power Producers subindustry, CK Power 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.
CK Power PCL Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, CK Power PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CK Power 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 CK Power 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 * 0.8216
+
0.528 * 0.9956
+
0.404 * 1.0371
+
0.892 * 0.9553
+
0.115 * 0.9381
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1205
+
4.679 * -0.062586
-
0.327 * 0.9852
=
-2.99
* 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))
=
(2055.498 / (2055.498 + 21440.351))
/
(2061.546 / (2061.546 + 20044.112))
=
0.087483
/
0.093259
=
0.9381
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
=
(2500.282 - 2466.931
-
4767.199)
/
75638.044
=
-0.062586
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.
CK Power PCL has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.
CK Power PCL (BKK:CKP) has a Beneish M-Score of -2.99 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CK Power PCL and its competitors. According to the industry distribution chart, CK Power PCL ranks #81 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 20.8%.
Is CK Power PCL's Beneish M-Score too high?
CK Power PCL's current Beneish M-Score is -2.99. Based on the distribution chart, CK Power PCL ranks #81 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, CK Power PCL has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CK Power PCL's Beneish M-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, CK Power PCL ranks #81 out of 390 companies for Beneish M-Score. This places CK Power PCL in the top 21% 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 CK Power PCL and its competitors. CK Power PCL's current Beneish M-Score is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CK Power PCL stock overvalued right now?
Based on GuruFocus' analysis, CK Power PCL (BKK:CKP) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿2.92, compared to a current price of ฿2.38 — trading 18.5% below its estimated fair value. The current Beneish M-Score is -2.99. CK Power PCL's overall GF Score™ is 70/100 with 7 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 CK Power PCL (BKK:CKP), the current Beneish M-Score is -2.99 as of Jun. 29, 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 CK Power PCL (BKK:CKP) Overvalued in 2026?
Based on GuruFocus' analysis, CK Power PCL stock appears to be undervalued.
The current stock price of ฿2.38 is trading 18.5% below its estimated GF Value™ of ฿2.92.
GuruFocus considers CK Power PCL to be Modestly Undervalued.
Key valuation signals for BKK:CKP:
Beneish M-Score: -2.99
GF Value™: ฿2.92 vs. price of ฿2.38 (18.5% below fair value)
No single metric tells the full story. See the BKK:CKP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CK Power PCL principally engaged in investment in companies, whose principal business operation is the generation of electricity for sales, and provision of consulting services and other services relating to electricity generating projects both locally and overseas. The company's business segments are: generation of electricity from hydroelectric power, generation of electricity from solar power, and generation of electricity from thermal power, and other segments. The majority of revenue is from generation of electricity from thermal power.
70GF Score
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