Ptt PCLFRA:PTOG -1.63%58 Beneish M-Score is -2.52 as of Jun. 24, 2026. GuruFocus rates FRA:PTOG with a GF Score™ of 58/100 and a GF Value™ of €0.79 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 822 Oil & Gas companies, Ptt PCL ranks worse than 59.25% 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 -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ptt PCL's Beneish M-Score or its related term are showing as below:
FRA:PTOG'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.68 Med: -2.72 Max: 3.49
Current: -2.52
During the past 13 years, the highest Beneish M-Score of Ptt PCL was 3.49. The lowest was -4.68. And the median was -2.72.
Ptt PCL Beneish M-Score Related Terms
Ptt PCL Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ptt 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.
For the Oil & Gas Integrated subindustry, Ptt 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.
Ptt PCL Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ptt PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ptt 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 Ptt 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 * 1.5017
+
0.528 * 0.7446
+
0.404 * 0.9613
+
0.892 * 0.8875
+
0.115 * 1.0183
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0969
+
4.679 * -0.054868
-
0.327 * 1.0162
=
-2.55
* 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))
=
(5006.697 / (5006.697 + 47514.433))
/
(4797.286 / (4797.286 + 46449.934))
=
0.095327
/
0.093611
=
1.0183
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
=
(2480.98 - 10.432
-
7741.676)
/
96070.131
=
-0.054868
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.
Ptt PCL has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
Ptt PCL (FRA:PTOG) has a Beneish M-Score of -2.52 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ptt PCL and its competitors. According to the industry distribution chart, Ptt PCL ranks #487 out of 822 companies in the Oil & Gas industry, placing it in the top 59.2%.
Is Ptt PCL's Beneish M-Score too high?
Ptt PCL's current Beneish M-Score is -2.52. Based on the distribution chart, Ptt PCL ranks #487 out of 822 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Ptt PCL has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ptt PCL's Beneish M-Score compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Ptt PCL ranks #487 out of 822 companies for Beneish M-Score. This places Ptt 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Ptt PCL and its competitors. Ptt PCL's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ptt PCL stock overvalued right now?
Based on GuruFocus' analysis, Ptt PCL (FRA:PTOG) is currently considered Modestly Overvalued. The stock's GF Value™ is €0.79, compared to a current price of €0.91 — trading 14.6% above its estimated fair value. The current Beneish M-Score is -2.52. Ptt PCL's overall GF Score™ is 58/100 with 6 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 Ptt PCL (FRA:PTOG), the current Beneish M-Score is -2.52 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 Ptt PCL (FRA:PTOG) Overvalued in 2026?
Based on GuruFocus' analysis, Ptt PCL stock appears to be overvalued.
The current stock price of €0.91 is trading 14.6% above its estimated GF Value™ of €0.79.
GuruFocus considers Ptt PCL to be Modestly Overvalued.
Key valuation signals for FRA:PTOG:
Beneish M-Score: -2.52
GF Value™: €0.79 vs. price of €0.91 (14.6% above fair value)
No single metric tells the full story. See the FRA:PTOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ptt PCL is an integrated national petroleum and petrochemical company based out of Thailand. The Group is organized into business groups based on types of products and services. The segments of the Group are Upstream petroleum and Natural gas business group which is further divided into Petroleum exploration and production business and Natural gas business. Downstream petroleum business group is divided into Oil and retail business; International trading business and Petrochemical and Refining business. New business and sustainability group includes emphasis on decarbonization to achieve the Net Zero Emission.
58GF Score
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