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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 -2.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Laguna Resorts & Hotels PCL's Beneish M-Score or its related term are showing as below:
BKK:LRH-R'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.96 Med: -2.38 Max: -1.15
Current: -2.06
During the past 13 years, the highest Beneish M-Score of Laguna Resorts & Hotels PCL was -1.15. The lowest was -2.96. And the median was -2.38.
* 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:LRH-R vs MAR, HLT, H: Beneish M-Score Comparison
For the Lodging subindustry, Laguna Resorts & Hotels 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.
Laguna Resorts & Hotels PCL Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Laguna Resorts & Hotels PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Laguna Resorts & Hotels 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 Laguna Resorts & Hotels 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 * 0.8879
+
0.528 * 0.9077
+
0.404 * 0.987
+
0.892 * 1.3421
+
0.115 * 0.9039
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8201
+
4.679 * 0.052514
-
0.327 * 0.9707
=
-2.06
* 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))
=
(478.273 / (478.273 + 19105.877))
/
(540.826 / (540.826 + 19477.719))
=
0.024421
/
0.027016
=
0.9039
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
=
(2103.8 - 247.383
-
-50.151)
/
36305.998
=
0.052514
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.
Laguna Resorts & Hotels PCL has a M-score of -2.06 suggests that the company is unlikely to be a manipulator.
Laguna Resorts & Hotels PCL (BKK:LRH-R) has a Beneish M-Score of -2.06 as of Sep. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Laguna Resorts & Hotels PCL and its competitors. According to the industry distribution chart, Laguna Resorts & Hotels PCL ranks #648 out of 814 companies in the Travel & Leisure industry, placing it in the top 79.6%.
Is Laguna Resorts & Hotels PCL's Beneish M-Score too high?
Laguna Resorts & Hotels PCL's current Beneish M-Score is -2.06. Based on the distribution chart, Laguna Resorts & Hotels PCL ranks #648 out of 814 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Laguna Resorts & Hotels PCL has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Laguna Resorts & Hotels PCL's Beneish M-Score compare to MAR and HLT?
According to the Travel & Leisure industry distribution chart, Laguna Resorts & Hotels PCL ranks #648 out of 814 companies for Beneish M-Score. This places Laguna Resorts & Hotels PCL in the lower 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Laguna Resorts & Hotels PCL and its competitors. Laguna Resorts & Hotels PCL's current Beneish M-Score is -2.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Laguna Resorts & Hotels PCL stock overvalued right now?
Based on GuruFocus' analysis, Laguna Resorts & Hotels PCL (BKK:LRH-R) is currently considered Possible Value Trap. The stock's GF Value™ is ฿61.60, compared to a current price of ฿30.58 — trading 50.4% below its estimated fair value. The current Beneish M-Score is -2.06. Laguna Resorts & Hotels PCL's overall GF Score™ is 66/100 with 4 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 Laguna Resorts & Hotels PCL (BKK:LRH-R), the current Beneish M-Score is -2.06 as of Sep. 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.
Is Laguna Resorts & Hotels PCL (BKK:LRH-R) Overvalued in 2026?
Based on GuruFocus' analysis, Laguna Resorts & Hotels PCL stock appears to be undervalued.
The current stock price of ฿30.58 is trading 50.4% below its estimated GF Value™ of ฿61.60.
GuruFocus considers Laguna Resorts & Hotels PCL to be Possible Value Trap.
Key valuation signals for BKK:LRH-R:
Beneish M-Score: -2.06
GF Value™: ฿61.60 vs. price of ฿30.58 (50.4% below fair value)
No single metric tells the full story. See the BKK:LRH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Laguna Resorts & Hotels PCL is principally engaged in the hotel business and property development. The group operates four hotels in Phuket, namely Angsana Laguna Phuket, Banyan Tree Phuket, Cassia Phuket and Homm Suites Laguna, and also operates Banyan Tree Bangkok in Bangkok. It also operates golf clubs, merchandise sales, office and shop rentals, and holiday club memberships. The group operates through four reportable segments: Hotel Business, which includes hotel and restaurant operations and related businesses such as golf clubs and merchandise sales; Property Development, which generates maximum revenue and includes property sales and holiday club membership sales; Office Rental, which relates to rental and services from land and buildings managed for lease; and Head Office.
66GF Score
Get the complete analysis for BKK:LRH-R
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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