PT Asuransi Bina Dana Arta Tbk (ISX:ABDA) Beneish M-Score: 0.00 (As of Jul. 03, 2026)


ISX:ABDA PT Asuransi Bina Dana Arta Tbk ISX:ABDA
63 GF Score
Price Rp3,310.00
GF Value Rp5,009.40
Valuation Significantly Undervalued
! 1 Warning Sign
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What is PT Asuransi Bina Dana Arta Tbk Beneish M-Score?

PT Asuransi Bina Dana Arta Tbk ISX:ABDA 63 Beneish M-Score is 0.00 as of Jul. 03, 2026. GuruFocus rates ISX:ABDA with a GF Score™ of 63/100 and a GF Value™ of Rp5,009.40 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 400 Insurance companies, PT Asuransi Bina Dana Arta Tbk ranks worse than 249999.75% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 PT Asuransi Bina Dana Arta Tbk's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of PT Asuransi Bina Dana Arta Tbk was 0.00. The lowest was 0.00. And the median was 0.00.

ISX:ABDA
63GF Score
PT Asuransi Bina Dana Arta Tbk ISX:ABDA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Asuransi Bina Dana Arta Tbk 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 PT Asuransi Bina Dana Arta Tbk 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 Rp27,761 Mil.
Revenue was 336458.021 + 180775.796 + 253679.771 + 335300.925 = Rp1,106,215 Mil.
Gross Profit was 336458.021 + 180775.796 + 253679.771 + 335300.925 = Rp1,106,215 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp2,812,332 Mil.
Property, Plant and Equipment(Net PPE) was Rp71,791 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,838 Mil.
Selling, General, & Admin. Expense(SGA) was Rp10,500 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was 29632.68 + 36839.869 + 13526.336 + 24996.41 = Rp104,995 Mil.
Non Operating Income was 2653.95 + 3431.092 + 1739.812 + 2314.596 = Rp10,139 Mil.
Cash Flow from Operations was 65032.14 + -9750.892 + 7061.748 + 28770.407 = Rp91,113 Mil.
 Total Receivables was Rp193,899 Mil.
Revenue was 223457.18 + 184739.125 + 240251.389 + 216282.655 = Rp864,730 Mil.
Gross Profit was 223457.18 + 184739.125 + 240251.389 + 216282.655 = Rp864,730 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp2,775,009 Mil.
Property, Plant and Equipment(Net PPE) was Rp74,934 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,517 Mil.
Selling, General, & Admin. Expense(SGA) was Rp-39,044 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 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)
=(27760.511 / 1106214.513) / (193899.082 / 864730.349)
=0.025095 / 0.224231
=

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)
=(864730.349 / 864730.349) / (1106214.513 / 1106214.513)
=1 / 1
=

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 - (0 + 71791.022) / 2812332.281) / (1 - (0 + 74934.005) / 2775008.792)
=0.974473 / 0.972997
=

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
=1106214.513 / 864730.349
=

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))
=(4517.339 / (4517.339 + 74934.005)) / (4838.306 / (4838.306 + 71791.022))
=0.056857 / 0.063139
=

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)
=(10500.169 / 1106214.513) / (-39044.024 / 864730.349)
=0.009492 / -0.045152
=

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)
=((0 + 0) / 2812332.281) / ((0 + 0) / 2775008.792)
=0 / 0
=

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
=(104995.295 - 10139.45 - 91113.403) / 2812332.281
=0.001331

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?
PT Asuransi Bina Dana Arta Tbk (ISX:ABDA) has a Beneish M-Score of 0.00 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Asuransi Bina Dana Arta Tbk and its competitors. According to the industry distribution chart, PT Asuransi Bina Dana Arta Tbk ranks #999999 out of 400 companies in the Insurance industry.
Is PT Asuransi Bina Dana Arta Tbk's Beneish M-Score too high?
PT Asuransi Bina Dana Arta Tbk's current Beneish M-Score is 0.00. Based on the distribution chart, PT Asuransi Bina Dana Arta Tbk ranks #999999 out of 400 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, PT Asuransi Bina Dana Arta Tbk has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Asuransi Bina Dana Arta Tbk's Beneish M-Score compare to CB and PGR?
According to the Insurance industry distribution chart, PT Asuransi Bina Dana Arta Tbk ranks #999999 out of 400 companies for Beneish M-Score. This places PT Asuransi Bina Dana Arta Tbk 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 Insurance company?
A good Beneish M-Score depends on the Insurance 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 PT Asuransi Bina Dana Arta Tbk and its competitors. PT Asuransi Bina Dana Arta Tbk'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 PT Asuransi Bina Dana Arta Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Asuransi Bina Dana Arta Tbk (ISX:ABDA) is currently considered Significantly Undervalued. The stock's GF Value™ is Rp5,009.40, compared to a current price of Rp3,310.00 — trading 33.9% below its estimated fair value. The current Beneish M-Score is 0.00. PT Asuransi Bina Dana Arta Tbk's overall GF Score™ is 63/100 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 PT Asuransi Bina Dana Arta Tbk (ISX:ABDA), the current Beneish M-Score is 0.00 as of Jul. 03, 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 PT Asuransi Bina Dana Arta Tbk (ISX:ABDA) Overvalued in 2026?

Based on GuruFocus' analysis, PT Asuransi Bina Dana Arta Tbk stock appears to be undervalued. The current stock price of Rp3,310.00 is trading 33.9% below its estimated GF Value™ of Rp5,009.40. GuruFocus considers PT Asuransi Bina Dana Arta Tbk to be Significantly Undervalued.

Key valuation signals for ISX:ABDA:

  • Beneish M-Score: 0.00
  • GF Value™: Rp5,009.40 vs. price of Rp3,310.00 (33.9% below fair value)
  • GF Score™: 63/100 with 1 warning sign

No single metric tells the full story. See the ISX:ABDA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

PT Asuransi Bina Dana Arta Tbk Business Description

Address Jalan Jenderal Sudirman Kav. 59, RT. 5 RW. 3, Plaza Asia, 27th Floor, Senayan, Kec. Kebayoran Baru, South Jakarta, Jakarta, IDN, 12190
PT Asuransi Bina Dana Arta Tbk is an Indonesian-based insurance service provider. It provides insurance services protection against any losses, such as fire, vehicles, engineering, liability, transportation, heavy equipment and machinery, health protection, and others. The company generates the majority of the premium revenue from the Motor vehicle insurance services it provides. Geographically, the group operations in Indonesia are carried out in Sumatra and Batam, Kalimantan, Jawa, Sulawesi, Bali, and Greater Jakarta, of which key revenue is derived from Greater Jakarta.
63GF Score

Get the complete analysis for ISX:ABDA

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

Rp3,310.00
Price
Rp5,009.40
GF Value