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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 -3.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for PT Supra Boga Lestari Tbk's Beneish M-Score or its related term are showing as below:
ISX:RANC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.83 Med: -3.11 Max: -1.94
Current: -3.18
During the past 13 years, the highest Beneish M-Score of PT Supra Boga Lestari Tbk was -1.94. The lowest was -3.83. And the median was -3.11.
* 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.
For the Grocery Stores subindustry, PT Supra Boga Lestari 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 Supra Boga Lestari Tbk Beneish M-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, PT Supra Boga Lestari Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Supra Boga Lestari Tbk's Beneish M-Score falls into.
PT Supra Boga Lestari 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 Supra Boga Lestari 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 * 0.7829
+
0.528 * 0.986
+
0.404 * 1.177
+
0.892 * 1.0318
+
0.115 * 1.0353
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9652
+
4.679 * -0.12695
-
0.327 * 1.0355
=
-3.18
* 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))
=
(176127.02 / (176127.02 + 529604.259))
/
(162463.941 / (162463.941 + 511489.337))
=
0.249567
/
0.241061
=
1.0353
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
=
(-40703.706 - 0
-
109480.764)
/
1183023.671
=
-0.12695
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 Supra Boga Lestari Tbk has a M-score of -3.18 suggests that the company is unlikely to be a manipulator.
PT Supra Boga Lestari Tbk (ISX:RANC) has a Beneish M-Score of -3.18 as of Aug. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Supra Boga Lestari Tbk and its competitors. According to the industry distribution chart, PT Supra Boga Lestari Tbk ranks #31 out of 294 companies in the Retail - Defensive industry, placing it in the top 10.5%.
Is PT Supra Boga Lestari Tbk's Beneish M-Score too high?
PT Supra Boga Lestari Tbk's current Beneish M-Score is -3.18. Based on the distribution chart, PT Supra Boga Lestari Tbk ranks #31 out of 294 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers. Overall, PT Supra Boga Lestari Tbk has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Supra Boga Lestari Tbk's Beneish M-Score compare to KR?
According to the Retail - Defensive industry distribution chart, PT Supra Boga Lestari Tbk ranks #31 out of 294 companies for Beneish M-Score. This places PT Supra Boga Lestari Tbk in the top 11% 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Supra Boga Lestari Tbk and its competitors. PT Supra Boga Lestari Tbk's current Beneish M-Score is -3.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Supra Boga Lestari Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Supra Boga Lestari Tbk (ISX:RANC) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp607.96, compared to a current price of Rp520.00 — trading 14.5% below its estimated fair value. The current Beneish M-Score is -3.18. PT Supra Boga Lestari Tbk's overall GF Score™ is 73/100 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 Supra Boga Lestari Tbk (ISX:RANC), the current Beneish M-Score is -3.18 as of Aug. 29, 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 Supra Boga Lestari Tbk (ISX:RANC) Overvalued in 2026?
Based on GuruFocus' analysis, PT Supra Boga Lestari Tbk stock appears to be undervalued.
The current stock price of Rp520.00 is trading 14.5% below its estimated GF Value™ of Rp607.96.
GuruFocus considers PT Supra Boga Lestari Tbk to be Modestly Undervalued.
Key valuation signals for ISX:RANC:
Beneish M-Score: -3.18
GF Value™: Rp607.96 vs. price of Rp520.00 (14.5% below fair value)
No single metric tells the full story. See the ISX:RANC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Supra Boga Lestari Tbk is a multi-brand retail company that provides daily grocery shopping solutions for households in Indonesia. It manages several retail brands, including Ranch Market, Farmers Market, The Gourmet, Day2Day, and Pasarina. These brands cater to different customer segments, such as middle-class, upper middle-class, and office and apartment area customers, providing them with fruits, vegetables, organic, gluten-free, dairy food, and other products. The Group's geographical segments are the West Area (Jakarta and surrounding areas and Sumatra) and the East Area (East Java, Central Java, Kalimantan, and Maluku). Maximum revenue is derived from its business in the West Area.
73GF Score
Get the complete analysis for ISX:RANC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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