Prime Road Power PCLBKK:PRIME Beneish M-Score is -2.86 as of Jun. 24, 2026. The stock has 5 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Prime Road Power PCL ranks better than 71.28% 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 -2.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Prime Road Power PCL's Beneish M-Score or its related term are showing as below:
BKK:PRIME'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.86 Med: -2.92 Max: 207.89
Current: -2.86
During the past 13 years, the highest Beneish M-Score of Prime Road Power PCL was 207.89. The lowest was -5.86. And the median was -2.92.
Prime Road Power PCL Beneish M-Score Related Terms
Prime Road Power PCL Beneish M-Score Historical Data
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The historical data trend for Prime Road 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.
Prime Road Power PCL Beneish M-Score Competitor Comparison
For the Utilities - Renewable subindustry, Prime Road 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.
Prime Road Power PCL Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Prime Road Power PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Prime Road 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 Prime Road 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 * 1.7395
+
0.528 * 0.7095
+
0.404 * 1.0934
+
0.892 * 0.5305
+
0.115 * 1.0788
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.6499
+
4.679 * -0.099154
-
0.327 * 0.87
=
-2.86
* 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))
=
(290.977 / (290.977 + 3490.189))
/
(196.092 / (196.092 + 2552.768))
=
0.076954
/
0.071336
=
1.0788
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
=
(88.475 - 380
-
297.817)
/
5943.699
=
-0.099154
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.
Prime Road Power PCL has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
Prime Road Power PCL (BKK:PRIME) has a Beneish M-Score of -2.86 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Prime Road Power PCL and its competitors. According to the industry distribution chart, Prime Road Power PCL ranks #112 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 28.7%.
Is Prime Road Power PCL's Beneish M-Score too high?
Prime Road Power PCL's current Beneish M-Score is -2.86. Based on the distribution chart, Prime Road Power PCL ranks #112 out of 390 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint.
How does Prime Road Power PCL's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Prime Road Power PCL ranks #112 out of 390 companies for Beneish M-Score. This puts Prime Road Power 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 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 Prime Road Power PCL and its competitors. Prime Road Power PCL's current Beneish M-Score is -2.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Prime Road Power PCL stock overvalued right now?
Based on GuruFocus' analysis, Prime Road Power PCL (BKK:PRIME) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.09, compared to a current price of ฿0.06 — trading 33.3% below its estimated fair value. The current Beneish M-Score is -2.86. 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 Prime Road Power PCL (BKK:PRIME), the current Beneish M-Score is -2.86 as of Jun. 24, 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.
Prime Road Power PCL is a renewable energy project developer. It is engaged in the construction of power plants and the generation of electricity from renewable energy for distribution to individuals, corporations, government agencies, and state-owned enterprises, both domestic and overseas. The group has a business presence in Thailand and other countries, of which a majority of revenue is derived from Thailand.
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