Smothong Group PCL (BKK:SMO) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


BKK:SMO Smothong Group PCL BKK:SMO
18 GF Score
Price ฿3.72
! 1 Warning Sign
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What is Smothong Group PCL Beneish M-Score?

Smothong Group PCL BKK:SMO -1.59% 18 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates BKK:SMO with a GF Score™ of 18/100. The stock has 1 warning sign investors should review. Among 1,849 Consumer Packaged Goods companies, Smothong Group PCL ranks worse than 54083.23% 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.

The historical rank and industry rank for Smothong Group PCL's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Smothong Group PCL was 0.00. The lowest was 0.00. And the median was 0.00.

Smothong Group PCL Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Smothong Group 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.

Smothong Group PCL Beneish M-Score Chart

Smothong Group PCL Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Smothong Group PCL Quarterly Data
Dec23 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 0.00 0.00

BKK:SMO vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Smothong Group 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.

Smothong Group PCL Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Smothong Group PCL's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Smothong Group PCL's Beneish M-Score falls into.


BKK:SMO
18GF Score
Smothong Group PCL BKK:SMO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Smothong Group 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 Smothong Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ฿900 Mil.
Revenue was 2394.978 + 2751.194 + 2212.682 + 3386.833 = ฿10,746 Mil.
Gross Profit was 84.54 + 139.075 + 249.514 + 711.522 = ฿1,185 Mil.
Total Current Assets was ฿2,783 Mil.
Total Assets was ฿5,636 Mil.
Property, Plant and Equipment(Net PPE) was ฿2,330 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿237 Mil.
Selling, General, & Admin. Expense(SGA) was ฿431 Mil.
Total Current Liabilities was ฿2,131 Mil.
Long-Term Debt & Capital Lease Obligation was ฿432 Mil.
Net Income was -59.043 + 26.825 + 133.566 + 636.288 = ฿738 Mil.
Non Operating Income was -38.048 + -5.113 + 0.837 + 96.526 = ฿54 Mil.
Cash Flow from Operations was -1021.555 + 628.574 + -433.872 + 597.501 = ฿-229 Mil.
 Total Receivables was ฿0 Mil.
Revenue was 1526.737 + 1444.854 + 1962.216 + 1889.93 = ฿6,824 Mil.
Gross Profit was -34.533 + 106.585 + 289.741 + 293.983 = ฿656 Mil.
Total Current Assets was ฿0 Mil.
Total Assets was ฿0 Mil.
Property, Plant and Equipment(Net PPE) was ฿0 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿54 Mil.
Selling, General, & Admin. Expense(SGA) was ฿291 Mil.
Total Current Liabilities was ฿0 Mil.
Long-Term Debt & Capital Lease Obligation was ฿0 Mil.

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)
=(899.885 / 10745.687) / (0 / 6823.737)
=0.083744 / 0
=

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)
=(655.776 / 6823.737) / (1184.651 / 10745.687)
=0.096102 / 0.110244
=

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 - (2782.702 + 2330.263) / 5636.099) / (1 - (0 + 0) / 0)
=0.092818 /
=

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
=10745.687 / 6823.737
=

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))
=(53.871 / (53.871 + 0)) / (237.377 / (237.377 + 2330.263))
=1 / 0.092449
=

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)
=(431.092 / 10745.687) / (291.221 / 6823.737)
=0.040118 / 0.042678
=

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)
=((432.42 + 2130.571) / 5636.099) / ((0 + 0) / 0)
=0.454746 /
=

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
=(737.636 - 54.202 - -229.352) / 5636.099
=0.161954

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Smothong Group PCL (BKK:SMO) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Smothong Group PCL and its competitors. According to the industry distribution chart, Smothong Group PCL ranks #999999 out of 1849 companies in the Consumer Packaged Goods industry.
Is Smothong Group PCL's Beneish M-Score too high?
Smothong Group PCL's current Beneish M-Score is 0.00. Based on the distribution chart, Smothong Group PCL ranks #999999 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Smothong Group PCL has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Smothong Group PCL's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Smothong Group PCL ranks #999999 out of 1849 companies for Beneish M-Score. This places Smothong Group 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 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 Smothong Group PCL and its competitors. Smothong Group PCL's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smothong Group PCL stock overvalued right now?
Smothong Group PCL (BKK:SMO) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Smothong Group PCL's overall GF Score™ is 18/100 with 1 warning sign 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 Smothong Group PCL (BKK:SMO), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Smothong Group PCL Business Description

Address 119/1, Moo 10, Prasong Subdistrict, Thachana District, Surat Thani Province, Surat Thani Province, Tha Chana, THA, 84170
Smothong Group PCL is engaged in the manufacture and distribution of crude palm oil and by products from palm oil extraction along with the generation and distribution of electricity. Its segments include Crude palm oil segment is a segment that is engaged in manufacture and distribution of crude palm oil, palm kernel shell and its by product and the generation and distribution of electricity segment. The majority of the revenue is derived from the Crude palm oil segment.
18GF Score

Get the complete analysis for BKK:SMO

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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