PT DCI Indonesia Tbk (ISX:DCII) Beneish M-Score: 3.40 (As of Jun. 25, 2026)


ISX:DCII PT DCI Indonesia Tbk ISX:DCII
90 GF Score
Price Rp189,000.00
GF Value Rp90,000.37
Valuation Significantly Overvalued
! 2 Warning Signs
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What is PT DCI Indonesia Tbk Beneish M-Score?

PT DCI Indonesia Tbk ISX:DCII 90 Beneish M-Score is 3.40 as of Jun. 25, 2026. GuruFocus rates ISX:DCII with a GF Score™ of 90/100 and a GF Value™ of Rp90,000.37 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,682 Real Estate companies, PT DCI Indonesia Tbk ranks worse than 95.54% 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.

Warning Sign:

Beneish M-Score 3.4 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ISX:DCII' s Beneish M-Score Range Over the Past 10 Years
Min: -2.96   Med: -1.82   Max: 3.64
Current: 3.4

During the past 9 years, the highest Beneish M-Score of PT DCI Indonesia Tbk was 3.64. The lowest was -2.96. And the median was -1.82.

PT DCI Indonesia Tbk Beneish M-Score Historical Data

* Premium members only.

The historical data trend for PT DCI Indonesia 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 DCI Indonesia Tbk Beneish M-Score Chart

PT DCI Indonesia Tbk Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -1.41 -2.84 -2.54 -1.48 3.64

PT DCI Indonesia 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 -1.30 -1.76 -1.40 3.64 3.40

ISX:DCII vs CBRE, BEKE, CSGP: Beneish M-Score Comparison

For the Real Estate Services subindustry, PT DCI Indonesia 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 DCI Indonesia Tbk Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, PT DCI Indonesia Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT DCI Indonesia Tbk's Beneish M-Score falls into.


ISX:DCII
90GF Score
PT DCI Indonesia Tbk ISX:DCII
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT DCI 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 DCI 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 * 1.0483+0.528 * 1.2064+0.404 * 15.628+0.892 * 1.1761+0.115 * 0.8286
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5391+4.679 * -0.041326-0.327 * 1.1056
=3.40

* 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 Rp824,032 Mil.
Revenue was 858101 + 617169 + 588741 + 560566 = Rp2,624,577 Mil.
Gross Profit was 485530 + 294238 + 283965 + 275110 = Rp1,338,843 Mil.
Total Current Assets was Rp1,133,434 Mil.
Total Assets was Rp7,260,574 Mil.
Property, Plant and Equipment(Net PPE) was Rp5,534,837 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,749 Mil.
Selling, General, & Admin. Expense(SGA) was Rp50,113 Mil.
Total Current Liabilities was Rp1,095,176 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,712,940 Mil.
Net Income was 377755 + 176348 + 208039 + 198101 = Rp960,243 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 228926 + 386527 + 248106 + 396732 = Rp1,260,291 Mil.
 Total Receivables was Rp668,388 Mil.
Revenue was 773552 + 709843 + 365300 + 382893 = Rp2,231,588 Mil.
Gross Profit was 519687 + 426621 + 211351 + 215673 = Rp1,373,332 Mil.
Total Current Assets was Rp1,146,963 Mil.
Total Assets was Rp5,351,089 Mil.
Property, Plant and Equipment(Net PPE) was Rp4,176,191 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp1,718 Mil.
Selling, General, & Admin. Expense(SGA) was Rp27,686 Mil.
Total Current Liabilities was Rp865,011 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,006,964 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)
=(824032 / 2624577) / (668388 / 2231588)
=0.313968 / 0.299512
=1.0483

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)
=(1373332 / 2231588) / (1338843 / 2624577)
=0.615406 / 0.510118
=1.2064

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 - (1133434 + 5534837) / 7260574) / (1 - (1146963 + 4176191) / 5351089)
=0.081578 / 0.00522
=15.628

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
=2624577 / 2231588
=1.1761

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))
=(1718 / (1718 + 4176191)) / (2749 / (2749 + 5534837))
=0.000411 / 0.000496
=0.8286

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)
=(50113 / 2624577) / (27686 / 2231588)
=0.019094 / 0.012406
=1.5391

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)
=((1712940 + 1095176) / 7260574) / ((1006964 + 865011) / 5351089)
=0.386762 / 0.349831
=1.1056

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
=(960243 - 0 - 1260291) / 7260574
=-0.041326

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 DCI Indonesia Tbk has a M-score of 3.40 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 3.40 mean?
PT DCI Indonesia Tbk (ISX:DCII) has a Beneish M-Score of 3.40 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT DCI Indonesia Tbk and its competitors. According to the industry distribution chart, PT DCI Indonesia Tbk ranks #1607 out of 1682 companies in the Real Estate industry, placing it in the top 95.5%.
Is PT DCI Indonesia Tbk's Beneish M-Score too high?
PT DCI Indonesia Tbk's current Beneish M-Score is 3.40. Based on the distribution chart, PT DCI Indonesia Tbk ranks #1607 out of 1682 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, PT DCI Indonesia Tbk has a GF Score™ of 90/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT DCI Indonesia Tbk's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, PT DCI Indonesia Tbk ranks #1607 out of 1682 companies for Beneish M-Score. This places PT DCI Indonesia 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 DCI Indonesia Tbk and its competitors. PT DCI Indonesia Tbk's current Beneish M-Score is 3.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT DCI Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT DCI Indonesia Tbk (ISX:DCII) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp90,000.37, compared to a current price of Rp189,000.00 — trading 110% above its estimated fair value. The current Beneish M-Score is 3.40. PT DCI Indonesia Tbk's overall GF Score™ is 90/100 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 DCI Indonesia Tbk (ISX:DCII), the current Beneish M-Score is 3.40 as of Jun. 25, 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 DCI Indonesia Tbk (ISX:DCII) Overvalued in 2026?

Based on GuruFocus' analysis, PT DCI Indonesia Tbk stock appears to be overvalued. The current stock price of Rp189,000.00 is trading 110% above its estimated GF Value™ of Rp90,000.37. GuruFocus considers PT DCI Indonesia Tbk to be Significantly Overvalued.

Key valuation signals for ISX:DCII:

  • Beneish M-Score: 3.40
  • GF Value™: Rp90,000.37 vs. price of Rp189,000.00 (110% above fair value)
  • GF Score™: 90/100 with 2 warning signs

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

PT DCI Indonesia Tbk Business Description

Other Exchanges DITPF:USA
Address Jalan. Jend. Sudirman Kav. 52-53, Equity Tower Building, 17th Floor, Suite F, Sudirman Central Business District Lot 9, Jakarta, IDN, 12190
PT DCI Indonesia Tbk is a data center provider in Indonesia. It provides reliable, well networked, and well-managed cloud and carrier-neutral data center infrastructure services in Indonesia. The company operates in two segments: Colocation services and Others. The services offered by the company include Colocation, Cross Connect, Flexspace, Smarthands, CloudConnect, and DCI Internet Exchange. The Company's business operations include the provision of data center facility services, technical maintenance and support, physical security to safeguard customer assets, service capacity expansion planning, and fulfillment of obligations as stipulated in agreements with customers.
90GF Score

Get the complete analysis for ISX:DCII

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

Rp189,000.00
Price
Rp90,000.37
GF Value