PT Marga Abhinaya Abadi Tbk (ISX:MABA) Beneish M-Score: 0.00 (As of Jul. 01, 2026)


What is PT Marga Abhinaya Abadi Tbk Beneish M-Score?

PT Marga Abhinaya Abadi Tbk ISX:MABA Beneish M-Score is 0.00 as of Jul. 01, 2026.

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.

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

During the past 7 years, the highest Beneish M-Score of PT Marga Abhinaya Abadi Tbk was 0.00. The lowest was 0.00. And the median was 0.00.

PT Marga Abhinaya Abadi Tbk Beneish M-Score Historical Data

* Premium members only.

The historical data trend for PT Marga Abhinaya Abadi 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 Marga Abhinaya Abadi Tbk Beneish M-Score Chart

PT Marga Abhinaya Abadi Tbk Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 -2.26 -1.78

PT Marga Abhinaya Abadi Tbk Quarterly Data
Dec13 Dec14 Dec15 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19
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 -2.26 0.00 -2.92 -2.20 -1.78

PT Marga Abhinaya Abadi Tbk Beneish M-Score Competitor Comparison

For the Lodging subindustry, PT Marga Abhinaya Abadi 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 Marga Abhinaya Abadi Tbk Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, PT Marga Abhinaya Abadi Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Marga Abhinaya Abadi Tbk's Beneish M-Score falls into.


PT Marga Abhinaya Abadi 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 Marga Abhinaya Abadi 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 * 2.671+0.528 * 1.216+0.404 * 0.9779+0.892 * 0.3787+0.115 * 0.9325
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7663+4.679 * -0.030968-0.327 * 1.1586
=-1.73

* 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 (Dec19) TTM:Last Year (Dec18) TTM:
Total Receivables was Rp281,815 Mil.
Revenue was 10571.436 + 14266.375 + 10722.837 + 9888.04 = Rp45,449 Mil.
Gross Profit was 4602.432 + 7069.782 + 5021.062 + 4085.246 = Rp20,779 Mil.
Total Current Assets was Rp1,577,794 Mil.
Total Assets was Rp2,225,371 Mil.
Property, Plant and Equipment(Net PPE) was Rp539,767 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp22,516 Mil.
Selling, General, & Admin. Expense(SGA) was Rp10,491 Mil.
Total Current Liabilities was Rp1,160,714 Mil.
Long-Term Debt & Capital Lease Obligation was Rp349,566 Mil.
Net Income was -107832.446 + -47852.293 + -55985.215 + -49928.145 = Rp-261,598 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -143878.26 + -14881.079 + -2498.47 + -31424.263 = Rp-192,682 Mil.
 Total Receivables was Rp278,592 Mil.
Revenue was 30567.627 + 16916.583 + 61201.757 + 11316.809 = Rp120,003 Mil.
Gross Profit was 24055.905 + 6393.476 + 32006.307 + 4260.175 = Rp66,716 Mil.
Total Current Assets was Rp1,636,316 Mil.
Total Assets was Rp2,308,897 Mil.
Property, Plant and Equipment(Net PPE) was Rp558,198 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp21,652 Mil.
Selling, General, & Admin. Expense(SGA) was Rp15,684 Mil.
Total Current Liabilities was Rp963,439 Mil.
Long-Term Debt & Capital Lease Obligation was Rp389,001 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)
=(281815.342 / 45448.688) / (278592.03 / 120002.776)
=6.200737 / 2.321547
=2.671

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)
=(66715.863 / 120002.776) / (20778.522 / 45448.688)
=0.555953 / 0.457186
=1.216

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 - (1577793.811 + 539767.248) / 2225370.766) / (1 - (1636315.682 + 558197.818) / 2308896.586)
=0.048446 / 0.04954
=0.9779

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
=45448.688 / 120002.776
=0.3787

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))
=(21651.924 / (21651.924 + 558197.818)) / (22515.865 / (22515.865 + 539767.248))
=0.037341 / 0.040044
=0.9325

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)
=(10491.424 / 45448.688) / (15683.651 / 120002.776)
=0.230841 / 0.130694
=1.7663

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)
=((349566.086 + 1160714.263) / 2225370.766) / ((389001.21 + 963438.714) / 2308896.586)
=0.678665 / 0.585752
=1.1586

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
=(-261598.099 - 0 - -192682.072) / 2225370.766
=-0.030968

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 Marga Abhinaya Abadi Tbk has a M-score of -1.73 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 0.00 mean?
PT Marga Abhinaya Abadi Tbk (ISX:MABA) has a Beneish M-Score of 0.00 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Marga Abhinaya Abadi Tbk and its competitors.
Is PT Marga Abhinaya Abadi Tbk's Beneish M-Score too high?
PT Marga Abhinaya Abadi Tbk's current Beneish M-Score is 0.00.
How does PT Marga Abhinaya Abadi Tbk's Beneish M-Score compare to competitors?
PT Marga Abhinaya Abadi Tbk's Beneish M-Score of 0.00 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Marga Abhinaya Abadi Tbk and its competitors. PT Marga Abhinaya Abadi Tbk's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Marga Abhinaya Abadi Tbk stock overvalued right now?
PT Marga Abhinaya Abadi Tbk (ISX:MABA) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Marga Abhinaya Abadi Tbk (ISX:MABA), the current Beneish M-Score is 0.00 as of Jul. 01, 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.

PT Marga Abhinaya Abadi Tbk Business Description

Address Jalan Raya Pasar Minggu Number 18, ITS Tower, Lantai 3 - Nifarro Park, Jakarta Selatan, Jakarta, IDN, 12510
PT Marga Abhinaya Abadi Tbk operates in the hospitality industry. The company classifies its business activities into three operating business segments, namely Hotel business, Restaurant and Cafe, as well as Property business. The company taps the opportunity in Restaurant business using Rantang Ibu - Taste of Nusantara brand, and two brands of coffee shops: 8:AM Coffee and Kopi Bagoos. The Property business includes the sales of properties, such as an apartment, housing and office buildings. The majority of its revenue is derived from the Hotel business.