PT Graha Layar Prima Tbk (ISX:BLTZ) Beneish M-Score: -3.05 (As of Jun. 30, 2026)


ISX:BLTZ PT Graha Layar Prima Tbk ISX:BLTZ
69 GF Score
Price Rp2,870.00
GF Value Rp2,288.93
Valuation Modestly Overvalued
! 3 Warning Signs
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What is PT Graha Layar Prima Tbk Beneish M-Score?

PT Graha Layar Prima Tbk ISX:BLTZ 69 Beneish M-Score is -3.05 as of Jun. 30, 2026. GuruFocus rates ISX:BLTZ with a GF Score™ of 69/100 and a GF Value™ of Rp2,288.93 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 983 Media - Diversified companies, PT Graha Layar Prima Tbk ranks better than 77.62% 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 -3.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for PT Graha Layar Prima Tbk's Beneish M-Score or its related term are showing as below:

ISX:BLTZ' s Beneish M-Score Range Over the Past 10 Years
Min: -13.65   Med: -2.9   Max: 7.13
Current: -3.05

During the past 13 years, the highest Beneish M-Score of PT Graha Layar Prima Tbk was 7.13. The lowest was -13.65. And the median was -2.90.

PT Graha Layar Prima Tbk Beneish M-Score Historical Data

* Premium members only.

The historical data trend for PT Graha Layar Prima 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 Graha Layar Prima Tbk Beneish M-Score Chart

PT Graha Layar Prima Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -13.65 -1.71 -2.91 -3.61 -2.88

PT Graha Layar Prima Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.21 -3.07 -3.22 -2.88 -3.05

ISX:BLTZ vs NFLX, DIS, WBD: Beneish M-Score Comparison

For the Entertainment subindustry, PT Graha Layar Prima 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 Graha Layar Prima Tbk Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, PT Graha Layar Prima Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Graha Layar Prima Tbk's Beneish M-Score falls into.


ISX:BLTZ
69GF Score
PT Graha Layar Prima Tbk ISX:BLTZ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Graha Layar Prima 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 Graha Layar Prima 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 * 1.0582+0.528 * 0.9419+0.404 * 0.8081+0.892 * 1.1617+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8966+4.679 * -0.148148-0.327 * 0.9447
=-3.05

* 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 Rp41,735 Mil.
Revenue was 214046.327 + 335659.574 + 307492.102 + 421870.962 = Rp1,279,069 Mil.
Gross Profit was 79778.623 + 154974.588 + 136252.885 + 200298.62 = Rp571,305 Mil.
Total Current Assets was Rp221,579 Mil.
Total Assets was Rp1,770,343 Mil.
Property, Plant and Equipment(Net PPE) was Rp1,410,207 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp0 Mil.
Selling, General, & Admin. Expense(SGA) was Rp381,571 Mil.
Total Current Liabilities was Rp615,210 Mil.
Long-Term Debt & Capital Lease Obligation was Rp715,109 Mil.
Net Income was -24893.914 + 32101.869 + 3521.23 + 57822.288 = Rp68,551 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 13725.647 + 124513.072 + 86564.816 + 106021.486 = Rp330,825 Mil.
 Total Receivables was Rp33,950 Mil.
Revenue was 192894.63 + 279259.17 + 276370.114 + 352505.883 = Rp1,101,030 Mil.
Gross Profit was 69272.878 + 117655.768 + 118443.566 + 157846.782 = Rp463,219 Mil.
Total Current Assets was Rp169,705 Mil.
Total Assets was Rp1,813,015 Mil.
Property, Plant and Equipment(Net PPE) was Rp1,467,718 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp0 Mil.
Selling, General, & Admin. Expense(SGA) was Rp366,321 Mil.
Total Current Liabilities was Rp762,512 Mil.
Long-Term Debt & Capital Lease Obligation was Rp679,672 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)
=(41735.263 / 1279068.965) / (33950.25 / 1101029.797)
=0.032629 / 0.030835
=1.0582

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)
=(463218.994 / 1101029.797) / (571304.716 / 1279068.965)
=0.420714 / 0.446657
=0.9419

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 - (221578.933 + 1410207.301) / 1770342.716) / (1 - (169705.495 + 1467717.819) / 1813015.085)
=0.078265 / 0.096851
=0.8081

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
=1279068.965 / 1101029.797
=1.1617

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))
=(0 / (0 + 1467717.819)) / (0 / (0 + 1410207.301))
=0 / 0
=1

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)
=(381570.763 / 1279068.965) / (366320.586 / 1101029.797)
=0.298319 / 0.332707
=0.8966

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)
=((715108.879 + 615209.531) / 1770342.716) / ((679672.352 + 762511.545) / 1813015.085)
=0.751447 / 0.795462
=0.9447

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
=(68551.473 - 0 - 330825.021) / 1770342.716
=-0.148148

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 Graha Layar Prima Tbk has a M-score of -3.05 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 -3.05 mean?
PT Graha Layar Prima Tbk (ISX:BLTZ) has a Beneish M-Score of -3.05 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Graha Layar Prima Tbk and its competitors. According to the industry distribution chart, PT Graha Layar Prima Tbk ranks #220 out of 983 companies in the Media - Diversified industry, placing it in the top 22.4%.
Is PT Graha Layar Prima Tbk's Beneish M-Score too high?
PT Graha Layar Prima Tbk's current Beneish M-Score is -3.05. Based on the distribution chart, PT Graha Layar Prima Tbk ranks #220 out of 983 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, PT Graha Layar Prima Tbk has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Graha Layar Prima Tbk's Beneish M-Score compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, PT Graha Layar Prima Tbk ranks #220 out of 983 companies for Beneish M-Score. This places PT Graha Layar Prima Tbk in the top 22% of its industry — outperforming the majority of peers. 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Graha Layar Prima Tbk and its competitors. PT Graha Layar Prima Tbk's current Beneish M-Score is -3.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Graha Layar Prima Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Graha Layar Prima Tbk (ISX:BLTZ) is currently considered Modestly Overvalued. The stock's GF Value™ is Rp2,288.93, compared to a current price of Rp2,870.00 — trading 25.4% above its estimated fair value. The current Beneish M-Score is -3.05. PT Graha Layar Prima Tbk's overall GF Score™ is 69/100 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 Graha Layar Prima Tbk (ISX:BLTZ), the current Beneish M-Score is -3.05 as of Jun. 30, 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 Graha Layar Prima Tbk (ISX:BLTZ) Overvalued in 2026?

Based on GuruFocus' analysis, PT Graha Layar Prima Tbk stock appears to be overvalued. The current stock price of Rp2,870.00 is trading 25.4% above its estimated GF Value™ of Rp2,288.93. GuruFocus considers PT Graha Layar Prima Tbk to be Modestly Overvalued.

Key valuation signals for ISX:BLTZ:

  • Beneish M-Score: -3.05
  • GF Value™: Rp2,288.93 vs. price of Rp2,870.00 (25.4% above fair value)
  • GF Score™: 69/100 with 3 warning signs

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

PT Graha Layar Prima Tbk Business Description

Address Jalan Jend Sudirman Kav. 48A, Gedung AIA Central Building, 26th Floor, Kel. Karet Semanggi, Kec. Setiabudi, Jakarta Selatan, Jakarta, IDN, 12930
PT Graha Layar Prima Tbk engages in the cinema industry and the provision of food and beverages. It operates through two segments: cinema and movie distribution & cinema licensor. The company offers a range of movies, including Hollywood movies, Indonesian movies, independent movies, and Hindi movies. It also offers other entertainment and services within its movie theater compounds, such as restaurants, cafes, live music performances, pool tables, and karaoke. The company derives a majority of its revenue from the Cinema segment. The cinema segment generates revenue from ticket sales in all owned cinemas, sales of food and beverages in cinemas, and also rental of auditoriums for various other activities.
69GF Score

Get the complete analysis for ISX:BLTZ

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

Rp2,870.00
Price
Rp2,288.93
GF Value