PT MD Entertainment Tbk (ISX:FILM) Beneish M-Score : -2.90 (As of Dec. 15, 2024)

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What is PT MD Entertainment Tbk Beneish M-Score?

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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ISX:FILM' s Beneish M-Score Range Over the Past 10 Years
Min: -3.79 Med: -2.7 Max: -1.03
Current: -2.9

During the past 9 years, the highest Beneish M-Score of PT MD Entertainment Tbk was -1.03. The lowest was -3.79. And the median was -2.70.

PT MD Entertainment Tbk Beneish M-Score Historical Data

The historical data trend for PT MD Entertainment 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.

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PT MD Entertainment Tbk Beneish M-Score Chart

PT MD Entertainment Tbk Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-1.66

-1.98

-2.77

-2.82

PT MD Entertainment Tbk Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-1.44	-2.82	-2.92	-3.67	-2.90

Competitive Comparison of PT MD Entertainment Tbk's Beneish M-Score

For the Entertainment subindustry, PT MD Entertainment 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 MD Entertainment Tbk's Beneish M-Score Distribution in the Media - Diversified Industry

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

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

PT MD Entertainment 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 MD Entertainment Tbk for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.3914

0.528 * 0.9999

0.404 * 1.1335

0.892 * 1.2183

0.115 * 1.2674

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0659

4.679 * -0.019467

0.327 * 1.1007

-2.90

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was Rp40,331 Mil.
Revenue was 130657.329 + 163187.994 + 54224.429 + 75971.785 = Rp424,042 Mil.
Gross Profit was 85370.356 + 114378.43 + 28937.395 + 38972.838 = Rp267,659 Mil.
Total Current Assets was Rp491,170 Mil.
Total Assets was Rp1,585,300 Mil.
Property, Plant and Equipment(Net PPE) was Rp683,995 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp25,296 Mil.
Selling, General, & Admin. Expense(SGA) was Rp79,593 Mil.
Total Current Liabilities was Rp65,702 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was 25807.772 + 72595.815 + 4594.648 + 10153.766 = Rp113,152 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 30252.622 + 55002.881 + 11035.615 + 47721.165 = Rp144,012 Mil.

Total Receivables was Rp84,583 Mil.
Revenue was 88286.974 + 144128.675 + 61157.664 + 54492.966 = Rp348,066 Mil.
Gross Profit was 49281.371 + 107707.438 + 34108.846 + 28576.455 = Rp219,674 Mil.
Total Current Assets was Rp619,764 Mil.
Total Assets was Rp1,707,609 Mil.
Property, Plant and Equipment(Net PPE) was Rp698,109 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp33,048 Mil.
Selling, General, & Admin. Expense(SGA) was Rp61,293 Mil.
Total Current Liabilities was Rp64,298 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)
	=	(40331.32 / 424041.537)	/	(84583.366 / 348066.279)
	=	0.095112	/	0.243009
	=	0.3914

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)
	=	(219674.11 / 348066.279)	/	(267659.019 / 424041.537)
	=	0.631127	/	0.631209
	=	0.9999

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 - (491169.776 + 683995.213) / 1585300.134)	/	(1 - (619764.22 + 698108.532) / 1707609.237)
	=	0.258711	/	0.228235
	=	1.1335

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
	=	424041.537	/	348066.279
	=	1.2183

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))
	=	(33047.668 / (33047.668 + 698108.532))	/	(25295.527 / (25295.527 + 683995.213))
	=	0.045199	/	0.035663
	=	1.2674

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)
	=	(79593.488 / 424041.537)	/	(61293.228 / 348066.279)
	=	0.187702	/	0.176096
	=	1.0659

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 + 65702.375) / 1585300.134)	/	((0 + 64298.104) / 1707609.237)
	=	0.041445	/	0.037654
	=	1.1007

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
	=	(113152.001 - 0	-	144012.283)	/	1585300.134
	=	-0.019467

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 MD Entertainment Tbk has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.

PT MD Entertainment Tbk Beneish M-Score Related Terms

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PT MD Entertainment Tbk Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » PT MD Entertainment Tbk (ISX:FILM) » Definitions » Beneish M-Score

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Address

Jalan Setia Budi Selatan No. 7, RT.5/RW.1, 8th Floor, MD Place, Tower 1, Selatan, Daerah Khusus Ibukota, Jakarta, IDN, 12920

Website

https://mdentertainment.com

PT MD Pictures Tbk an entertainment company. Equipped with an integrated production system and state-of-the-art facilities that encompass the entire production process, MD Entertainment is dedicated to entertaining, educating, and inspiring audiences.

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