Thaicom PCLBKK:THCOM 78 Beneish M-Score is -2.71 as of Jun. 24, 2026. GuruFocus rates BKK:THCOM with a GF Score™ of 78/100 and a GF Value™ of ฿11.68 (Fairly Valued). The stock has 7 warning signs investors should review. Among 355 Telecommunication Services companies, Thaicom PCL ranks worse than 59.15% 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 -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Thaicom PCL's Beneish M-Score or its related term are showing as below:
BKK:THCOM'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.51 Med: -2.78 Max: -1.6
Current: -2.71
During the past 13 years, the highest Beneish M-Score of Thaicom PCL was -1.60. The lowest was -3.51. And the median was -2.78.
Thaicom PCL Beneish M-Score Related Terms
Thaicom PCL Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Thaicom 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.
BKK:THCOM vs TMUS, VZ, T: Beneish M-Score Comparison
For the Telecom Services subindustry, Thaicom 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.
Thaicom PCL Beneish M-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Thaicom PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Thaicom 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 Thaicom 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 * 1.0486
+
0.528 * 0.9232
+
0.404 * 0.7955
+
0.892 * 1.0539
+
0.115 * 1.1743
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7961
+
4.679 * -0.037496
-
0.327 * 1.228
=
-2.71
* 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))
=
(620.185 / (620.185 + 6872.093))
/
(679.192 / (679.192 + 8955.9))
=
0.082777
/
0.070491
=
1.1743
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
=
(508.441 - 369.672
-
758.223)
/
16520.655
=
-0.037496
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.
Thaicom PCL has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
Thaicom PCL (BKK:THCOM) has a Beneish M-Score of -2.71 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Thaicom PCL and its competitors. According to the industry distribution chart, Thaicom PCL ranks #210 out of 355 companies in the Telecommunication Services industry, placing it in the top 59.2%.
Is Thaicom PCL's Beneish M-Score too high?
Thaicom PCL's current Beneish M-Score is -2.71. Based on the distribution chart, Thaicom PCL ranks #210 out of 355 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Thaicom PCL has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Thaicom PCL's Beneish M-Score compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Thaicom PCL ranks #210 out of 355 companies for Beneish M-Score. This places Thaicom 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication Services 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 Thaicom PCL and its competitors. Thaicom PCL's current Beneish M-Score is -2.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thaicom PCL stock overvalued right now?
Based on GuruFocus' analysis, Thaicom PCL (BKK:THCOM) is currently considered Fairly Valued. The stock's GF Value™ is ฿11.68, compared to a current price of ฿11.00 — trading 5.8% below its estimated fair value. The current Beneish M-Score is -2.71. Thaicom PCL's overall GF Score™ is 78/100 with 7 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 Thaicom PCL (BKK:THCOM), the current Beneish M-Score is -2.71 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.
Is Thaicom PCL (BKK:THCOM) Overvalued in 2026?
Based on GuruFocus' analysis, Thaicom PCL stock appears to be undervalued.
The current stock price of ฿11.00 is trading 5.8% below its estimated GF Value™ of ฿11.68.
GuruFocus considers Thaicom PCL to be Fairly Valued.
Key valuation signals for BKK:THCOM:
Beneish M-Score: -2.71
GF Value™: ฿11.68 vs. price of ฿11.00 (5.8% below fair value)
No single metric tells the full story. See the BKK:THCOM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thaicom PCL is engaged in transponder services for domestic & international communications, sale of the user terminal, broadband content services, sale of direct television equipment, internet data center services, internet services, satellite uplink-downlink services, broadcasting television service, telecommunication, printing, publishing of business telephone directories, banner advertising, telephone network services, mobile contents, and engineering & development services on communication technology & electronics. It operates in three segments: Satellite services, Internet services & media, and Telephone networks. The company has operations in Thailand, Singapore, Australia, India and others.
78GF Score
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