PT Krom Bank Indonesia Tbk (ISX:BBSI) Beneish M-Score: -2.42 (As of Jun. 29, 2026)


ISX:BBSI PT Krom Bank Indonesia Tbk ISX:BBSI
60 GF Score
Price Rp4,750.00
GF Value Rp11,577.25
Valuation Significantly Undervalued
! 2 Warning Signs
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What is PT Krom Bank Indonesia Tbk Beneish M-Score?

PT Krom Bank Indonesia Tbk ISX:BBSI -0.42% 60 Beneish M-Score is -2.42 as of Jun. 29, 2026. GuruFocus rates ISX:BBSI with a GF Score™ of 60/100 and a GF Value™ of Rp11,577.25 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,399 Banks companies, PT Krom Bank Indonesia Tbk ranks better than 53.97% 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.

Good Sign:

Beneish M-Score -2.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for PT Krom Bank Indonesia Tbk's Beneish M-Score or its related term are showing as below:

ISX:BBSI' s Beneish M-Score Range Over the Past 10 Years
Min: -2.42   Med: 0.02   Max: 4.07
Current: -2.42

During the past 7 years, the highest Beneish M-Score of PT Krom Bank Indonesia Tbk was 4.07. The lowest was -2.42. And the median was 0.02.

ISX:BBSI
60GF Score
PT Krom Bank Indonesia Tbk ISX:BBSI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Krom Bank Indonesia 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 Krom Bank Indonesia 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 * 1+0.528 * 1+0.404 * 1.0089+0.892 * 1.964+0.115 * 0.5099
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.823+4.679 * -0.018277-0.327 * 3.1183
=-2.42

* 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 Rp0 Mil.
Revenue was 647642.587 + 567110.955 + 548146.983 + 412349.575 = Rp2,175,250 Mil.
Gross Profit was 647642.587 + 567110.955 + 548146.983 + 412349.575 = Rp2,175,250 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp14,775,578 Mil.
Property, Plant and Equipment(Net PPE) was Rp178,028 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp23,373 Mil.
Selling, General, & Admin. Expense(SGA) was Rp177,478 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp7,787 Mil.
Net Income was 70167.396 + 17199.891 + 52890.852 + 37857.771 = Rp178,116 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 475039.187 + 154480.638 + 173062.741 + -354409.097 = Rp448,173 Mil.
 Total Receivables was Rp0 Mil.
Revenue was 333041.342 + 283312.965 + 275108.829 + 216084.389 = Rp1,107,548 Mil.
Gross Profit was 333041.342 + 283312.965 + 275108.829 + 216084.389 = Rp1,107,548 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp8,302,866 Mil.
Property, Plant and Equipment(Net PPE) was Rp172,542 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp10,853 Mil.
Selling, General, & Admin. Expense(SGA) was Rp109,801 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,405 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)
=(0 / 2175250.1) / (0 / 1107547.525)
=0 / 0
=1

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)
=(1107547.525 / 1107547.525) / (2175250.1 / 2175250.1)
=1 / 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 + 178028.479) / 14775578.235) / (1 - (0 + 172542.249) / 8302866.492)
=0.987951 / 0.979219
=1.0089

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
=2175250.1 / 1107547.525
=1.964

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))
=(10853.33 / (10853.33 + 172542.249)) / (23372.997 / (23372.997 + 178028.479))
=0.05918 / 0.116052
=0.5099

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)
=(177478.276 / 2175250.1) / (109800.888 / 1107547.525)
=0.08159 / 0.099139
=0.823

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)
=((7786.938 + 0) / 14775578.235) / ((1404.667 + 0) / 8302866.492)
=0.000527 / 0.000169
=3.1183

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
=(178115.91 - 0 - 448173.469) / 14775578.235
=-0.018277

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.

PT Krom Bank Indonesia Tbk has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.42 mean?
PT Krom Bank Indonesia Tbk (ISX:BBSI) has a Beneish M-Score of -2.42 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Krom Bank Indonesia Tbk and its competitors. According to the industry distribution chart, PT Krom Bank Indonesia Tbk ranks #644 out of 1399 companies in the Banks industry, placing it in the top 46%.
Is PT Krom Bank Indonesia Tbk's Beneish M-Score too high?
PT Krom Bank Indonesia Tbk's current Beneish M-Score is -2.42. Based on the distribution chart, PT Krom Bank Indonesia Tbk ranks #644 out of 1399 companies in the Banks industry, which is above the industry midpoint. Overall, PT Krom Bank Indonesia Tbk has a GF Score™ of 60/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Krom Bank Indonesia Tbk's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, PT Krom Bank Indonesia Tbk ranks #644 out of 1399 companies for Beneish M-Score. This puts PT Krom Bank Indonesia Tbk in the upper 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Krom Bank Indonesia Tbk and its competitors. PT Krom Bank Indonesia Tbk's current Beneish M-Score is -2.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Krom Bank Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Krom Bank Indonesia Tbk (ISX:BBSI) is currently considered Significantly Undervalued. The stock's GF Value™ is Rp11,577.25, compared to a current price of Rp4,750.00 — trading 59% below its estimated fair value. The current Beneish M-Score is -2.42. PT Krom Bank Indonesia Tbk's overall GF Score™ is 60/100 with 2 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 Krom Bank Indonesia Tbk (ISX:BBSI), the current Beneish M-Score is -2.42 as of Jun. 29, 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 Krom Bank Indonesia Tbk (ISX:BBSI) Overvalued in 2026?

Based on GuruFocus' analysis, PT Krom Bank Indonesia Tbk stock appears to be undervalued. The current stock price of Rp4,750.00 is trading 59% below its estimated GF Value™ of Rp11,577.25. GuruFocus considers PT Krom Bank Indonesia Tbk to be Significantly Undervalued.

Key valuation signals for ISX:BBSI:

  • Beneish M-Score: -2.42
  • GF Value™: Rp11,577.25 vs. price of Rp4,750.00 (59% below fair value)
  • GF Score™: 60/100 with 2 warning signs

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

PT Krom Bank Indonesia Tbk Business Description

Address Jl. Gatot Subroto No. Kav. 50-52, Dipo Tower Building, Lantai 9, Petamburan, Tanah Abang District, Jakarta, IDN, 10260
PT Krom Bank Indonesia Tbk operates as a bank in Indonesia. Its activities is to conduct business as a non-foreign exchange private commercial bank. It offers products and services to customers, ranging from savings, Time deposit, Chrome credit, and funding products to various other banking services. The bank has two business segments based on location Bandung and Jakarta.
60GF Score

Get the complete analysis for ISX:BBSI

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

Rp4,750.00
Price
Rp11,577.25
GF Value