Petchsrivichai Enterprise PCL Beneish M-Score Historical Data
The historical data trend for Petchsrivichai Enterprise 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.
Petchsrivichai Enterprise PCL Beneish M-Score Chart
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Petchsrivichai Enterprise PCL Annual Data
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Trend |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-1.90 |
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Petchsrivichai Enterprise PCL Quarterly Data
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Dec22 |
Jun23 |
Sep23 |
Dec23 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
- |
-1.90 |
Competitive Comparison of Petchsrivichai Enterprise PCL's Beneish M-Score
For the Farm Products subindustry, Petchsrivichai Enterprise 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.
Petchsrivichai Enterprise PCL's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Petchsrivichai Enterprise PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Petchsrivichai Enterprise PCL's Beneish M-Score falls into.
Petchsrivichai Enterprise PCL Beneish M-Score Calculation
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 Petchsrivichai Enterprise 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 * 0.9693 | + | 0.528 * 0.9317 | + | 0.404 * 0.7168 | + | 0.892 * 1.1133 | + | 0.115 * 0.9269 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9317 | + | 4.679 * 0.099164 | - | 0.327 * 0.4156 |
| = | -1.90 |
* 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.
| This Year (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ฿1,251 Mil.
Revenue was ฿27,465 Mil.
Gross Profit was ฿1,293 Mil.
Total Current Assets was ฿3,731 Mil.
Total Assets was ฿6,612 Mil.
Property, Plant and Equipment(Net PPE) was ฿2,174 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿216 Mil.
Selling, General, & Admin. Expense(SGA) was ฿631 Mil.
Total Current Liabilities was ฿1,221 Mil.
Long-Term Debt & Capital Lease Obligation was ฿61 Mil.
Net Income was ฿625 Mil.
Gross Profit was ฿78 Mil.
Cash Flow from Operations was ฿-109 Mil.
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Total Receivables was ฿1,160 Mil.
Revenue was ฿24,670 Mil.
Gross Profit was ฿1,082 Mil.
Total Current Assets was ฿2,580 Mil.
Total Assets was ฿5,686 Mil.
Property, Plant and Equipment(Net PPE) was ฿2,257 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿207 Mil.
Selling, General, & Admin. Expense(SGA) was ฿609 Mil.
Total Current Liabilities was ฿2,586 Mil.
Long-Term Debt & Capital Lease Obligation was ฿67 Mil.
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1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (1251.465 / 27465.445) | / | (1159.657 / 24669.675) |
| = | 0.045565 | / | 0.047007 |
| | = | 0.9693 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (1081.982 / 24669.675) | / | (1292.84 / 27465.445) |
| = | 0.043859 | / | 0.047072 |
| | = | 0.9317 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (3730.588 + 2173.816) / 6611.787) | / | (1 - (2579.963 + 2257.477) / 5686.108) |
| = | 0.106988 | / | 0.149253 |
| | = | 0.7168 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
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.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 27465.445 | / | 24669.675 |
| | = | 1.1133 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
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)) |
| = | (206.698 / (206.698 + 2257.477)) | / | (216.302 / (216.302 + 2173.816)) |
| = | 0.083881 | / | 0.090498 |
| | = | 0.9269 |
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
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (631.465 / 27465.445) | / | (608.765 / 24669.675) |
| = | 0.022991 | / | 0.024677 |
| | = | 0.9317 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((61.444 + 1220.675) / 6611.787) | / | ((67.082 + 2586.045) / 5686.108) |
| = | 0.193914 | / | 0.466598 |
| | = | 0.4156 |
8. TATA = Total Accruals to Total Assets
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 |
| = | (624.55 - 77.933 | - | -109.036) | / | 6611.787 |
| | = | 0.099164 |
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.
Petchsrivichai Enterprise PCL has a M-score of -1.90 suggests that the company is unlikely to be a manipulator.
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