PT Mitra Pack Tbk (ISX:PTMP) Beneish M-Score : -1.48 (As of Apr. 04, 2025)

View and export this data going back to 2023. Start your Free Trial

What is PT Mitra Pack 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.

Warning Sign:

Beneish M-Score -1.48 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ISX:PTMP' s Beneish M-Score Range Over the Past 10 Years
Min: -1.75 Med: -1.48 Max: 0.01
Current: -1.48

During the past 3 years, the highest Beneish M-Score of PT Mitra Pack Tbk was 0.01. The lowest was -1.75. And the median was -1.48.

PT Mitra Pack Tbk Beneish M-Score Historical Data

The historical data trend for PT Mitra Pack 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 Mitra Pack Tbk Beneish M-Score Chart

PT Mitra Pack Tbk Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

0.01

PT Mitra Pack Tbk Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial							-	0.01	-1.75	-1.48	-1.48

Competitive Comparison of PT Mitra Pack Tbk's Beneish M-Score

For the Specialty Industrial Machinery subindustry, PT Mitra Pack 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 Mitra Pack Tbk's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, PT Mitra Pack Tbk's Beneish M-Score distribution charts can be found below:

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

Save Embed

;

Save Embed

;

PT Mitra Pack 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 Mitra Pack 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 * 1.2042

0.528 * 1.0593

0.404 * 2.0119

0.892 * 1.3001

0.115 * 1.4015

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.012

4.679 * 0.020124

0.327 * 1.1158

-1.48

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was Rp54,477 Mil.
Revenue was 49849.229 + 39853.433 + 42522.911 + 48415.424 = Rp180,641 Mil.
Gross Profit was 12697.28 + 13355.485 + 15383.82 + 15329.457 = Rp56,766 Mil.
Total Current Assets was Rp229,894 Mil.
Total Assets was Rp262,305 Mil.
Property, Plant and Equipment(Net PPE) was Rp29,717 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,463 Mil.
Selling, General, & Admin. Expense(SGA) was Rp11,836 Mil.
Total Current Liabilities was Rp69,845 Mil.
Long-Term Debt & Capital Lease Obligation was Rp4,502 Mil.
Net Income was 4624.309 + 2280.857 + 2925.168 + 2749.374 = Rp12,580 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 0 + 0 + 4437.087 + 2864.028 = Rp7,301 Mil.

Total Receivables was Rp34,799 Mil.
Revenue was 37461.595 + 34411.109 + 32702.805 + 34372.479 = Rp138,948 Mil.
Gross Profit was 13793.265 + 10186.436 + 11342.594 + 10929.95 = Rp46,252 Mil.
Total Current Assets was Rp211,509 Mil.
Total Assets was Rp236,887 Mil.
Property, Plant and Equipment(Net PPE) was Rp24,170 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,904 Mil.
Selling, General, & Admin. Expense(SGA) was Rp8,996 Mil.
Total Current Liabilities was Rp48,474 Mil.
Long-Term Debt & Capital Lease Obligation was Rp11,703 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)
	=	(54477.167 / 180640.997)	/	(34798.579 / 138947.988)
	=	0.301577	/	0.250443
	=	1.2042

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)
	=	(46252.245 / 138947.988)	/	(56766.042 / 180640.997)
	=	0.332875	/	0.314248
	=	1.0593

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 - (229893.548 + 29717.039) / 262304.764)	/	(1 - (211508.638 + 24169.531) / 236887.467)
	=	0.010271	/	0.005105
	=	2.0119

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
	=	180640.997	/	138947.988
	=	1.3001

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))
	=	(2904.14 / (2904.14 + 24169.531))	/	(2462.991 / (2462.991 + 29717.039))
	=	0.107268	/	0.076538
	=	1.4015

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)
	=	(11836.303 / 180640.997)	/	(8996.108 / 138947.988)
	=	0.065524	/	0.064744
	=	1.012

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)
	=	((4502.444 + 69844.605) / 262304.764)	/	((11702.981 + 48473.586) / 236887.467)
	=	0.283438	/	0.25403
	=	1.1158

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
	=	(12579.708 - 0	-	7301.115)	/	262304.764
	=	0.020124

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 Mitra Pack Tbk has a M-score of -1.48 signals that the company is likely to be a manipulator.

PT Mitra Pack Tbk Beneish M-Score Related Terms

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

PT Mitra Pack Tbk Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » PT Mitra Pack Tbk (ISX:PTMP) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jl. Pangeran Jayakarta No. 135, Komplek Prima Jayakarta Blok B-20, Mangga Dua Selatan, Sawah Besar, Jakarta Pusat, Jakarta, IDN, 10730

Website

https://www.mitrapack.co.id

PT Mitra Pack Tbk specializes in Coding, Marking, Product Inspection Systems, and Food Packaging. The company engages in trading of product inspection systems such as metal detectors, X-ray inspection systems, check-weighers, and provides food and industrial goods packaging services. It is also engaged in trading of spare parts and chemicals, and providing related after-sales services. Its business segments are; Parts, Machines, Rental income, and Engineering income. The firm derives a majority of its revenue from the Parts, and Machines segment.

PT Mitra Pack Tbk Headlines

No Headlines