PT MDTV Media Technologies Tbk (ISX:NETV) Beneish M-Score : -2.73 (As of Jun. 14, 2025)

View and export this data going back to 2022. Start your Free Trial

What is PT MDTV Media Technologies 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 -2.73 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ISX:NETV' s Beneish M-Score Range Over the Past 10 Years
Min: -4.68 Med: -3.04 Max: -1.21
Current: -2.73

During the past 7 years, the highest Beneish M-Score of PT MDTV Media Technologies Tbk was -1.21. The lowest was -4.68. And the median was -3.04.

PT MDTV Media Technologies Tbk Beneish M-Score Historical Data

The historical data trend for PT MDTV Media Technologies 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.

* Premium members only.

PT MDTV Media Technologies Tbk Beneish M-Score Chart

PT MDTV Media Technologies Tbk Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

Get a 7-Day Free Trial

-2.52

-4.09

-1.21

PT MDTV Media Technologies Tbk Quarterly Data
	Dec18	Dec19	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Beneish M-Score	Get a 7-Day Free Trial															-4.68	-3.85	-4.35	-1.21	-2.73

Competitive Comparison of PT MDTV Media Technologies Tbk's Beneish M-Score

For the Broadcasting subindustry, PT MDTV Media Technologies 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 MDTV Media Technologies Tbk's Beneish M-Score Distribution in the Media - Diversified Industry

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

* The bar in red indicates where PT MDTV Media Technologies Tbk's Beneish M-Score falls into.

Save Embed

;

Save Embed

;

PT MDTV Media Technologies 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 MDTV Media Technologies 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 * 0.5238

0.528 * -2.7204

0.404 * 1.177

0.892 * 0.6428

0.115 * 0.5611

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.5612

4.679 * 0.490878

0.327 * 0.221

-2.73

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was Rp40,237 Mil.
Revenue was 32692.617 + 42307.726 + 48695.254 + 36938.084 = Rp160,634 Mil.
Gross Profit was -26793.035 + 8471.78 + 19356.573 + -9469.82 = Rp-8,435 Mil.
Total Current Assets was Rp610,554 Mil.
Total Assets was Rp1,006,168 Mil.
Property, Plant and Equipment(Net PPE) was Rp70,401 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp23,239 Mil.
Selling, General, & Admin. Expense(SGA) was Rp97,033 Mil.
Total Current Liabilities was Rp361,791 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was -53707.895 + -123238.061 + -5211.766 + 113767.537 = Rp-68,390 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -38326.436 + -432528.267 + 19364.678 + -110806.525 = Rp-562,297 Mil.

Total Receivables was Rp119,495 Mil.
Revenue was 81788.646 + 54515.355 + 57136.132 + 56448.993 = Rp249,889 Mil.
Gross Profit was 18456.838 + 11656.996 + 7253.503 + -1671.946 = Rp35,695 Mil.
Total Current Assets was Rp692,200 Mil.
Total Assets was Rp1,198,029 Mil.
Property, Plant and Equipment(Net PPE) was Rp176,843 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp28,609 Mil.
Selling, General, & Admin. Expense(SGA) was Rp96,689 Mil.
Total Current Liabilities was Rp1,927,295 Mil.
Long-Term Debt & Capital Lease Obligation was Rp22,052 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)
	=	(40236.846 / 160633.681)	/	(119494.726 / 249889.126)
	=	0.250488	/	0.478191
	=	0.5238

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)
	=	(35695.391 / 249889.126)	/	(-8434.502 / 160633.681)
	=	0.142845	/	-0.052508
	=	-2.7204

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 - (610554.448 + 70401.014) / 1006168.34)	/	(1 - (692200.391 + 176843.075) / 1198029.183)
	=	0.323219	/	0.274606
	=	1.177

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
	=	160633.681	/	249889.126
	=	0.6428

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))
	=	(28608.504 / (28608.504 + 176843.075))	/	(23239.161 / (23239.161 + 70401.014))
	=	0.139247	/	0.248175
	=	0.5611

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)
	=	(97033.399 / 160633.681)	/	(96688.595 / 249889.126)
	=	0.604066	/	0.386926
	=	1.5612

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 + 361790.664) / 1006168.34)	/	((22052.027 + 1927295.403) / 1198029.183)
	=	0.359573	/	1.627129
	=	0.221

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
	=	(-68390.185 - 0	-	-562296.55)	/	1006168.34
	=	0.490878

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 MDTV Media Technologies Tbk has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.

PT MDTV Media Technologies Tbk Beneish M-Score Related Terms

Thank you for viewing the detailed overview of PT MDTV Media Technologies Tbk's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

PT MDTV Media Technologies Tbk Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » PT MDTV Media Technologies Tbk (ISX:NETV) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jl. Setiabudi Selatan No. 7, MD Place Tower I Lt. 2, Setiabudi, Jakarta, IDN, 12910

Website

https://www.mdtelevision.com

PT MDTV Media Technologies Tbk, formerly PT Net Visi Media Tbk, is a holding company. Along with its subsidiaries, it carries out business activities in the media industry. It is engaged in Artist Management, Television Broadcasting, Content Production, and Digital Media. The company has only one main business segment, namely Media.

PT MDTV Media Technologies Tbk Headlines

No Headlines