PT Asri Karya Lestari Tbk (ISX:ASLI) Beneish M-Score: 0.00 (As of Jul. 01, 2026)


ISX:ASLI PT Asri Karya Lestari Tbk ISX:ASLI
12 GF Score
Price Rp199.00
! 3 Warning Signs
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What is PT Asri Karya Lestari Tbk Beneish M-Score?

PT Asri Karya Lestari Tbk ISX:ASLI -3.40% 12 Beneish M-Score is 0.00 as of Jul. 01, 2026. GuruFocus rates ISX:ASLI with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 1,699 Construction companies, PT Asri Karya Lestari Tbk ranks worse than 58858.09% 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 PT Asri Karya Lestari Tbk's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of PT Asri Karya Lestari Tbk was -1.31. The lowest was -2.57. And the median was -1.94.

PT Asri Karya Lestari Tbk Beneish M-Score Historical Data

* Premium members only.

The historical data trend for PT Asri Karya Lestari Tbk'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.

PT Asri Karya Lestari Tbk Beneish M-Score Chart

PT Asri Karya Lestari Tbk Annual Data
Trend Dec20 Dec21 Dec22 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.57 -1.31 0.00

PT Asri Karya Lestari Tbk Semi-Annual Data
Dec20 Dec21 Dec22 Dec24 Dec25
Beneish M-Score 0.00 0.00 -2.57 -1.31 0.00

ISX:ASLI vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, PT Asri Karya Lestari Tbk'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.

PT Asri Karya Lestari Tbk Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, PT Asri Karya Lestari Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Asri Karya Lestari Tbk's Beneish M-Score falls into.


ISX:ASLI
12GF Score
PT Asri Karya Lestari Tbk ISX:ASLI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Asri Karya Lestari 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 Asri Karya Lestari 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was Rp24,309 Mil.
Revenue was Rp115,719 Mil.
Gross Profit was Rp-54,289 Mil.
Total Current Assets was Rp112,387 Mil.
Total Assets was Rp427,876 Mil.
Property, Plant and Equipment(Net PPE) was Rp315,489 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp7,878 Mil.
Selling, General, & Admin. Expense(SGA) was Rp21,105 Mil.
Total Current Liabilities was Rp45,494 Mil.
Long-Term Debt & Capital Lease Obligation was Rp5,347 Mil.
Net Income was Rp-112,547 Mil.
Gross Profit was Rp0 Mil.
Cash Flow from Operations was Rp-3,045 Mil.
 Total Receivables was Rp38,880 Mil.
Revenue was Rp303,181 Mil.
Gross Profit was Rp68,567 Mil.
Total Current Assets was Rp220,715 Mil.
Total Assets was Rp550,495 Mil.
Property, Plant and Equipment(Net PPE) was Rp329,780 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp7,104 Mil.
Selling, General, & Admin. Expense(SGA) was Rp14,123 Mil.
Total Current Liabilities was Rp52,790 Mil.
Long-Term Debt & Capital Lease Obligation was Rp8,384 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)
=(24308.597 / 115718.634) / (38880.106 / 303181.46)
=0.210066 / 0.12824
=

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)
=(68567.458 / 303181.46) / (-54288.862 / 115718.634)
=0.22616 / -0.469145
=

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 - (112386.839 + 315488.954) / 427875.793) / (1 - (220714.821 + 329779.918) / 550494.739)
=-0 / -0
=

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
=115718.634 / 303181.46
=

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))
=(7103.729 / (7103.729 + 329779.918)) / (7878.26 / (7878.26 + 315488.954))
=0.021087 / 0.024363
=

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)
=(21104.514 / 115718.634) / (14123.373 / 303181.46)
=0.182378 / 0.046584
=

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)
=((5346.797 + 45493.65) / 427875.793) / ((8383.733 + 52790.316) / 550494.739)
=0.118821 / 0.111126
=

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
=(-112546.822 - 0 - -3044.977) / 427875.793
=-0.25592

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 Asri Karya Lestari Tbk (ISX:ASLI) has a Beneish M-Score of 0.00 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Asri Karya Lestari Tbk and its competitors. According to the industry distribution chart, PT Asri Karya Lestari Tbk ranks #999999 out of 1699 companies in the Construction industry.
Is PT Asri Karya Lestari Tbk's Beneish M-Score too high?
PT Asri Karya Lestari Tbk's current Beneish M-Score is 0.00. Based on the distribution chart, PT Asri Karya Lestari Tbk ranks #999999 out of 1699 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, PT Asri Karya Lestari Tbk has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does PT Asri Karya Lestari Tbk's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, PT Asri Karya Lestari Tbk ranks #999999 out of 1699 companies for Beneish M-Score. This places PT Asri Karya Lestari 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 a Construction company?
A good Beneish M-Score depends on the Construction 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 Asri Karya Lestari Tbk and its competitors. PT Asri Karya Lestari 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 Asri Karya Lestari Tbk stock overvalued right now?
PT Asri Karya Lestari Tbk (ISX:ASLI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. PT Asri Karya Lestari Tbk's overall GF Score™ is 12/100 with 3 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 PT Asri Karya Lestari Tbk (ISX:ASLI), the current Beneish M-Score is 0.00 as of Jul. 01, 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.

PT Asri Karya Lestari Tbk Business Description

Address block b2, Jalan. Jalan. Jend. Ahmad Yani No.3, Kalimalang Commercial Center Shophouse, RT.001/RW.005, Kayuringin Jaya, South Bekasi District, West Java, Bekasi, IDN, 17144
PT Asri Karya Lestari Tbk is a national general contractor company. Its core business activities include services as a General Contractor, with a focus on foundation, erection, formwork, and road works. It has experience in executing and completing projects, including bridges, flyovers, buildings, toll gates, bus stops, pedestrian bridges (JPO), pelumpang pedestrian, mosques, and roads. The operational area covers the entire territory of the Republic of Indonesia. It operates through construction services and rental services segments. The construction services segment, which generates maximum revenue, engages in civil construction of bridges, elevated roads, flyovers, underpasses, roads, mechanical installations, water resources infrastructure, irrigation and drainage networks, and others.
12GF Score

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

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