PT Inti Bangun Sejahtera Tbk Beneish M-Score Historical Data
The historical data trend for PT Inti Bangun Sejahtera 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 Inti Bangun Sejahtera Tbk Beneish M-Score Chart
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PT Inti Bangun Sejahtera Tbk Annual Data
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Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
Dec25 |
| Beneish M-Score |
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-2.14 |
-2.75 |
-2.64 |
-5.38 |
-3.93 |
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PT Inti Bangun Sejahtera Tbk Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
Jun25 |
Sep25 |
Dec25 |
Mar26 |
| Beneish M-Score |
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-4.39 |
-3.63 |
-3.16 |
-3.93 |
-4.48 |
ISX:IBST vs TMUS, VZ, T: Beneish M-Score Comparison
For the Telecom Services subindustry, PT Inti Bangun Sejahtera 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 Inti Bangun Sejahtera Tbk Beneish M-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, PT Inti Bangun Sejahtera Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Inti Bangun Sejahtera Tbk's Beneish M-Score falls into.
PT Inti Bangun Sejahtera 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 Inti Bangun Sejahtera 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 * 0.4058 | + | 0.528 * 0.7338 | + | 0.404 * 0.5327 | + | 0.892 * 1.0138 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.3409 | + | 4.679 * -0.289306 | - | 0.327 * 0.6787 |
| = | -4.48 |
* 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 Rp168,840 Mil.
Revenue was 198566 + 240922 + 215105 + 206658 = Rp861,251 Mil.
Gross Profit was 132795 + 179221 + 158621 + 147012 = Rp617,649 Mil.
Total Current Assets was Rp963,262 Mil.
Total Assets was Rp4,348,527 Mil.
Property, Plant and Equipment(Net PPE) was Rp3,035,707 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp0 Mil.
Selling, General, & Admin. Expense(SGA) was Rp7,210 Mil.
Total Current Liabilities was Rp1,062,707 Mil.
Long-Term Debt & Capital Lease Obligation was Rp346,367 Mil.
Net Income was 45375 + 144487 + 103717 + 98313 = Rp391,892 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 712686 + 280314 + 258517 + 398428 = Rp1,649,945 Mil.
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Total Receivables was Rp410,437 Mil.
Revenue was 209207 + 222190 + 210451 + 207712 = Rp849,560 Mil.
Gross Profit was 144092 + 156986 + 133868 + 12152 = Rp447,098 Mil.
Total Current Assets was Rp646,090 Mil.
Total Assets was Rp4,365,365 Mil.
Property, Plant and Equipment(Net PPE) was Rp3,060,600 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp0 Mil.
Selling, General, & Admin. Expense(SGA) was Rp20,864 Mil.
Total Current Liabilities was Rp1,587,097 Mil.
Long-Term Debt & Capital Lease Obligation was Rp497,228 Mil.
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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) |
| = | (168840 / 861251) | / | (410437 / 849560) |
| = | 0.19604 | / | 0.483117 |
| | = | 0.4058 |
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) |
| = | (447098 / 849560) | / | (617649 / 861251) |
| = | 0.52627 | / | 0.717153 |
| | = | 0.7338 |
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 - (963262 + 3035707) / 4348527) | / | (1 - (646090 + 3060600) / 4365365) |
| = | 0.080385 | / | 0.150887 |
| | = | 0.5327 |
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 |
| = | 861251 | / | 849560 |
| | = | 1.0138 |
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 + 3060600)) | / | (0 / (0 + 3035707)) |
| = | 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) |
| = | (7210 / 861251) | / | (20864 / 849560) |
| = | 0.008372 | / | 0.024559 |
| | = | 0.3409 |
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) |
| = | ((346367 + 1062707) / 4348527) | / | ((497228 + 1587097) / 4365365) |
| = | 0.324035 | / | 0.477469 |
| | = | 0.6787 |
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 |
| = | (391892 - 0 | - | 1649945) | / | 4348527 |
| | = | -0.289306 |
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 Inti Bangun Sejahtera Tbk has a M-score of -4.48 suggests that the company is unlikely to be a manipulator.
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