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PT Pan Brothers TbkISX:PBRX +3.85%59 Beneish M-Score is -5.05 as of Aug. 04, 2026. GuruFocus rates ISX:PBRX with a GF Score™ of 59/100 and a GF Value™ of Rp16.17 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 999 Manufacturing - Apparel & Accessories companies, PT Pan Brothers Tbk ranks better than 98.5% 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 -5.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for PT Pan Brothers Tbk's Beneish M-Score or its related term are showing as below:
ISX:PBRX'
s Beneish M-Score Range Over the Past 10 Years
Min: -11.52 Med: -2.15 Max: -0.87
Current: -5.05
During the past 13 years, the highest Beneish M-Score of PT Pan Brothers Tbk was -0.87. The lowest was -11.52. And the median was -2.15.
PT Pan Brothers Tbk Beneish M-Score Historical Data
* Premium members only.
The historical data trend for PT Pan Brothers 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:PBRX vs RL, LEVI, VFC: Beneish M-Score Comparison
For the Apparel Manufacturing subindustry, PT Pan Brothers 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 Pan Brothers Tbk Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, PT Pan Brothers Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Pan Brothers 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 Pan Brothers 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 * 0.4436
+
0.528 * 0.746
+
0.404 * 0.4357
+
0.892 * 1.0358
+
0.115 * 1.2068
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6917
+
4.679 * -0.361459
-
0.327 * 1.3456
=
-5.05
* 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))
=
(15135.078 / (15135.078 + 787649.124))
/
(13044.506 / (13044.506 + 821953.986))
=
0.018853
/
0.015622
=
1.2068
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
=
(-1171298.654 - 0
-
135702.795)
/
3615906.821
=
-0.361459
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 Pan Brothers Tbk has a M-score of -5.05 suggests that the company is unlikely to be a manipulator.
PT Pan Brothers Tbk (ISX:PBRX) has a Beneish M-Score of -5.05 as of Aug. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Pan Brothers Tbk and its competitors. According to the industry distribution chart, PT Pan Brothers Tbk ranks #15 out of 999 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 1.5%.
Is PT Pan Brothers Tbk's Beneish M-Score too high?
PT Pan Brothers Tbk's current Beneish M-Score is -5.05. Based on the distribution chart, PT Pan Brothers Tbk ranks #15 out of 999 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, PT Pan Brothers Tbk has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Pan Brothers Tbk's Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, PT Pan Brothers Tbk ranks #15 out of 999 companies for Beneish M-Score. This places PT Pan Brothers Tbk in the top 2% of its industry — outperforming the majority of peers. 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Pan Brothers Tbk and its competitors. PT Pan Brothers Tbk's current Beneish M-Score is -5.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Pan Brothers Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Pan Brothers Tbk (ISX:PBRX) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp16.17, compared to a current price of Rp27.00 — trading 67% above its estimated fair value. The current Beneish M-Score is -5.05. PT Pan Brothers Tbk's overall GF Score™ is 59/100 with 3 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 Pan Brothers Tbk (ISX:PBRX), the current Beneish M-Score is -5.05 as of Aug. 04, 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 Pan Brothers Tbk (ISX:PBRX) Overvalued in 2026?
Based on GuruFocus' analysis, PT Pan Brothers Tbk stock appears to be overvalued.
The current stock price of Rp27.00 is trading 67% above its estimated GF Value™ of Rp16.17.
GuruFocus considers PT Pan Brothers Tbk to be Significantly Overvalued.
Key valuation signals for ISX:PBRX:
Beneish M-Score: -5.05
GF Value™: Rp16.17 vs. price of Rp27.00 (67% above fair value)
No single metric tells the full story. See the ISX:PBRX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Pan Brothers Tbk is an apparel manufacturer based in Indonesia. It manufactures all kinds of garments using various fabrics, ranging from performance wear to woven garments, catering to the needs of international and local apparel brands. Additionally, through its subsidiary, the company is involved in the retailing of garments through brands like Salt and Pepper, Zoe the Label, and Wastu. Its product portfolio comprises activewear jackets, ski outerwear, pants, shorts, shirts, dresses, etc. The company's export markets are spread across the globe, including the United States, Europe, Asia, Australia, New Zealand, and other countries. Geographically, it derives maximum revenue from Asia, followed by America, Europe, and other regions, through the sale of garments.
59GF Score
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