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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 -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Lam Soon (Thailand) PCL Shs's Beneish M-Score or its related term are showing as below:
BKK:LST'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.28 Med: -2.59 Max: -0.38
Current: -2.32
During the past 13 years, the highest Beneish M-Score of Lam Soon (Thailand) PCL Shs was -0.38. The lowest was -3.28. And the median was -2.59.
Lam Soon (Thailand) PCL Shs Beneish M-Score Related Terms
Lam Soon (Thailand) PCL Shs Beneish M-Score Historical Data
* 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:LST vs ADM, BG, TSN: Beneish M-Score Comparison
For the Farm Products subindustry, Lam Soon (Thailand) PCL Shs'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.
Lam Soon (Thailand) PCL Shs Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Lam Soon (Thailand) PCL Shs's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lam Soon (Thailand) PCL Shs'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 Lam Soon (Thailand) PCL Shs 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 * 1.1065
+
0.528 * 1.0039
+
0.404 * 0.7629
+
0.892 * 1.1111
+
0.115 * 1.1242
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0047
+
4.679 * 0.021399
-
0.327 * 1.1618
=
-2.32
* 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))
=
(298.832 / (298.832 + 2828.853))
/
(306.324 / (306.324 + 3298.039))
=
0.095544
/
0.084987
=
1.1242
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
=
(563.387 - 20.725
-
344.792)
/
9246.892
=
0.021399
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.
Lam Soon (Thailand) PCL Shs has a M-score of -2.32 suggests that the company is unlikely to be a manipulator.
Lam Soon (Thailand) PCL Shs (BKK:LST) has a Beneish M-Score of -2.32 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lam Soon (Thailand) PCL Shs and its competitors. According to the industry distribution chart, Lam Soon (Thailand) PCL Shs ranks #1197 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 64.7%.
Is Lam Soon (Thailand) PCL Shs' Beneish M-Score too high?
Lam Soon (Thailand) PCL Shs' current Beneish M-Score is -2.32. Based on the distribution chart, Lam Soon (Thailand) PCL Shs ranks #1197 out of 1851 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Lam Soon (Thailand) PCL Shs has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lam Soon (Thailand) PCL Shs' Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Lam Soon (Thailand) PCL Shs ranks #1197 out of 1851 companies for Beneish M-Score. This places Lam Soon (Thailand) PCL Shs 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Lam Soon (Thailand) PCL Shs and its competitors. Lam Soon (Thailand) PCL Shs's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lam Soon (Thailand) PCL Shs stock overvalued right now?
Based on GuruFocus' analysis, Lam Soon (Thailand) PCL Shs (BKK:LST) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿5.75, compared to a current price of ฿4.76 — trading 17.2% below its estimated fair value. The current Beneish M-Score is -2.32. Lam Soon (Thailand) PCL Shs' overall GF Score™ is 78/100 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 Lam Soon (Thailand) PCL Shs (BKK:LST), the current Beneish M-Score is -2.32 as of Jul. 14, 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 Lam Soon (Thailand) PCL Shs (BKK:LST) Overvalued in 2026?
Based on GuruFocus' analysis, Lam Soon (Thailand) PCL Shs stock appears to be undervalued.
The current stock price of ฿4.76 is trading 17.2% below its estimated GF Value™ of ฿5.75.
GuruFocus considers Lam Soon (Thailand) PCL Shs to be Modestly Undervalued.
Key valuation signals for BKK:LST:
Beneish M-Score: -2.32
GF Value™: ฿5.75 vs. price of ฿4.76 (17.2% below fair value)
No single metric tells the full story. See the BKK:LST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lam Soon (Thailand) PCL Shs along with its subsidiaries is principally engaged in the manufacture and distribution of palm oil. The group and its subsidiaries are organized into business units based on their products and services and have two reportable segments namely manufacturing and distribution of palm oil segment, which includes the generation of electricity from biogases, the by-products from palm oil manufacturing; and the manufacturing and distribution of processed fruits and vegetable segment. Geographically, it operates through the region of Thailand and it holds a presence in the international market, however domestic sales account for the majority of revenue.
78GF Score
Get the complete analysis for BKK:LST
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