GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » PT Primadaya Plastisindo Tbk (ISX:PDPP) » Definitions » Beneish M-Score

PT Primadaya Plastisindo Tbk (ISX:PDPP) Beneish M-Score : 0.00 (As of Mar. 15, 2025)


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

What is PT Primadaya Plastisindo 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.

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

During the past 4 years, the highest Beneish M-Score of PT Primadaya Plastisindo Tbk was 0.00. The lowest was 0.00. And the median was 0.00.


PT Primadaya Plastisindo Tbk Beneish M-Score Historical Data

The historical data trend for PT Primadaya Plastisindo 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 Primadaya Plastisindo Tbk Beneish M-Score Chart

PT Primadaya Plastisindo Tbk Annual Data
Trend Dec18 Dec19 Dec20 Dec21
Beneish M-Score
- - - -

PT Primadaya Plastisindo Tbk Quarterly Data
Dec19 Dec20 Dec21 May22 Mar23 Jun23 Sep23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - -

Competitive Comparison of PT Primadaya Plastisindo Tbk's Beneish M-Score

For the Packaging & Containers subindustry, PT Primadaya Plastisindo 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 Primadaya Plastisindo Tbk's Beneish M-Score Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, PT Primadaya Plastisindo Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Primadaya Plastisindo Tbk's Beneish M-Score falls into.



PT Primadaya Plastisindo 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 Primadaya Plastisindo 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Sep24) TTM:Last Year (Jun23) TTM:
Total Receivables was Rp46,320 Mil.
Revenue was 105957.126 + 93299.243 + 127843.081 + 107481.482 = Rp434,581 Mil.
Gross Profit was 16222.429 + 16682.526 + 20759.925 + 19354.97 = Rp73,020 Mil.
Total Current Assets was Rp180,227 Mil.
Total Assets was Rp464,131 Mil.
Property, Plant and Equipment(Net PPE) was Rp281,885 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp1,313 Mil.
Selling, General, & Admin. Expense(SGA) was Rp10,832 Mil.
Total Current Liabilities was Rp40,916 Mil.
Long-Term Debt & Capital Lease Obligation was Rp21,589 Mil.
Net Income was 4361.042 + 5555.223 + 8248.117 + 8350.117 = Rp26,514 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 28574.778 + 9458.303 + -310.352 + -7117.623 = Rp30,605 Mil.
Total Receivables was Rp0 Mil.
Revenue was 105587.351 + 108270.416 + 0 + 0 = Rp213,858 Mil.
Gross Profit was 20569.786 + 14853.1 + 0 + 0 = Rp35,423 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp0 Mil.
Property, Plant and Equipment(Net PPE) was Rp0 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp560 Mil.
Selling, General, & Admin. Expense(SGA) was Rp4,870 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 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)
=(46320.195 / 434580.932) / (0 / 213857.767)
=0.106586 / 0
=

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)
=(35422.886 / 213857.767) / (73019.85 / 434580.932)
=0.165638 / 0.168024
=

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 - (180226.926 + 281884.564) / 464131.265) / (1 - (0 + 0) / 0)
=0.004352 /
=

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
=434580.932 / 213857.767
=

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))
=(559.992 / (559.992 + 0)) / (1313.057 / (1313.057 + 281884.564))
=1 / 0.004637
=

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)
=(10831.733 / 434580.932) / (4869.877 / 213857.767)
=0.024925 / 0.022772
=

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)
=((21588.569 + 40916.337) / 464131.265) / ((0 + 0) / 0)
=0.134671 /
=

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
=(26514.499 - 0 - 30605.106) / 464131.265
=-0.008813

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 Primadaya Plastisindo Tbk Beneish M-Score Related Terms

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


PT Primadaya Plastisindo Tbk Business Description

Traded in Other Exchanges
N/A
Address
Jl. Raya Narogong KM. 18 Cileungsi, Jawa Barat, West Java, Bogor, IDN, 16829
PT Primadaya Plastisindo Tbk is a manufacturing company, that is engaged in plastic injection, specializing in plastic injection, specializing in plastic packaging, in the form of PC Jugs, PET Preform, PET Bottle, PP Straws, HDPE Jug Covers, HDPE jerry cans, PP Bottle Cap, Sanitation Jug & Wipes Hand. Its reportable segments are Sukabumi, Tangerang, Lampung, Binjai, Solo, and Cileungsi.

PT Primadaya Plastisindo Tbk Headlines

No Headlines