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PT Mustika Ratu TbkISX:MRAT 70 Beneish M-Score is -2.40 as of Jul. 16, 2026. GuruFocus rates ISX:MRAT with a GF Score™ of 70/100 and a GF Value™ of Rp581.84 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, PT Mustika Ratu Tbk ranks worse than 59.87% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for PT Mustika Ratu Tbk's Beneish M-Score or its related term are showing as below:
ISX:MRAT'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.76 Med: -2.41 Max: -1.61
Current: -2.4
During the past 13 years, the highest Beneish M-Score of PT Mustika Ratu Tbk was -1.61. The lowest was -2.76. And the median was -2.41.
PT Mustika Ratu Tbk Beneish M-Score Related Terms
PT Mustika Ratu Tbk Beneish M-Score Historical Data
* Premium members only.
The historical data trend for PT Mustika Ratu 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.
ISX:MRAT vs PG, CL, KVUE: Beneish M-Score Comparison
For the Household & Personal Products subindustry, PT Mustika Ratu 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 Mustika Ratu Tbk Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Mustika Ratu Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Mustika Ratu Tbk's Beneish M-Score falls into.
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 Mustika Ratu 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 * 0.6092
+
0.528 * 1.2505
+
0.404 * 1.0414
+
0.892 * 1.3484
+
0.115 * 0.9874
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.767
+
4.679 * -0.019577
-
0.327 * 0.8994
=
-2.40
* 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.
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.
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))
=
(2825.972 / (2825.972 + 258109.056))
/
(2905.424 / (2905.424 + 261992.931))
=
0.01083
/
0.010968
=
0.9874
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
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
=
(1268.134 - 0
-
18172.82)
/
863485.873
=
-0.019577
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 Mustika Ratu Tbk has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.
PT Mustika Ratu Tbk (ISX:MRAT) has a Beneish M-Score of -2.40 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Mustika Ratu Tbk and its competitors. According to the industry distribution chart, PT Mustika Ratu Tbk ranks #1107 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 59.9%.
Is PT Mustika Ratu Tbk's Beneish M-Score too high?
PT Mustika Ratu Tbk's current Beneish M-Score is -2.40. Based on the distribution chart, PT Mustika Ratu Tbk ranks #1107 out of 1849 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, PT Mustika Ratu Tbk has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Mustika Ratu Tbk's Beneish M-Score compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, PT Mustika Ratu Tbk ranks #1107 out of 1849 companies for Beneish M-Score. This places PT Mustika Ratu 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Mustika Ratu Tbk and its competitors. PT Mustika Ratu Tbk's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Mustika Ratu Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Mustika Ratu Tbk (ISX:MRAT) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp581.84, compared to a current price of Rp442.00 — trading 24% below its estimated fair value. The current Beneish M-Score is -2.40. PT Mustika Ratu Tbk's overall GF Score™ is 70/100 with 4 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 Mustika Ratu Tbk (ISX:MRAT), the current Beneish M-Score is -2.40 as of Jul. 16, 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 Mustika Ratu Tbk (ISX:MRAT) Overvalued in 2026?
Based on GuruFocus' analysis, PT Mustika Ratu Tbk stock appears to be undervalued.
The current stock price of Rp442.00 is trading 24% below its estimated GF Value™ of Rp581.84.
GuruFocus considers PT Mustika Ratu Tbk to be Modestly Undervalued.
Key valuation signals for ISX:MRAT:
Beneish M-Score: -2.40
GF Value™: Rp581.84 vs. price of Rp442.00 (24% below fair value)
No single metric tells the full story. See the ISX:MRAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Mustika Ratu Tbk is a manufacturer of traditional cosmetics and herbal products. The scope of the company's activity includes fabrication, trade, and distribution of herbs, cosmetics, and healthy drinks as well as other related business activities. The company's operating segments consist of Manufacturing; and Trading, services and distribution. The company generates the majority of its revenue from the Manufacturing segment. The company caters to both domestic and international markets. The company provides its products under the brands Mustika Ratu, Mustika Puteri, Bask, Taman Sari, Java Princess, and Ratu Mas.
70GF Score
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