PT Supreme Cable Manufacturingmmerce Tbk (ISX:SCCO) Beneish M-Score : -1.62 (As of Apr. 03, 2025)

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What is PT Supreme Cable Manufacturingmmerce 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 -1.62 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ISX:SCCO' s Beneish M-Score Range Over the Past 10 Years
Min: -5.3 Med: -2.47 Max: -0.98
Current: -1.62

During the past 13 years, the highest Beneish M-Score of PT Supreme Cable Manufacturingmmerce Tbk was -0.98. The lowest was -5.30. And the median was -2.47.

PT Supreme Cable Manufacturingmmerce Tbk Beneish M-Score Historical Data

The historical data trend for PT Supreme Cable Manufacturingmmerce 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.

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PT Supreme Cable Manufacturingmmerce Tbk Beneish M-Score Chart

PT Supreme Cable Manufacturingmmerce Tbk Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.29

-3.97

-1.95

-1.13

-2.76

PT Supreme Cable Manufacturingmmerce Tbk Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.73	-2.76	-2.44	-1.82	-1.62

Competitive Comparison of PT Supreme Cable Manufacturingmmerce Tbk's Beneish M-Score

For the Electrical Equipment & Parts subindustry, PT Supreme Cable Manufacturingmmerce 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 Supreme Cable Manufacturingmmerce Tbk's Beneish M-Score Distribution in the Industrial Products Industry

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

* The bar in red indicates where PT Supreme Cable Manufacturingmmerce Tbk's Beneish M-Score falls into.

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PT Supreme Cable Manufacturingmmerce 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 Supreme Cable Manufacturingmmerce 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 * 1.4102

0.528 * 1.0998

0.404 * 1.0766

0.892 * 1.254

0.115 * 0.9767

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7006

4.679 * 0.036829

0.327 * 1.1625

-1.62

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was Rp660,674 Mil.
Revenue was 2122263.916 + 1752624.276 + 1649882.837 + 1563526.68 = Rp7,088,298 Mil.
Gross Profit was 196898.741 + 151327.859 + 101615.676 + 117308.109 = Rp567,150 Mil.
Total Current Assets was Rp2,382,212 Mil.
Total Assets was Rp5,709,535 Mil.
Property, Plant and Equipment(Net PPE) was Rp2,995,111 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,374 Mil.
Selling, General, & Admin. Expense(SGA) was Rp111,327 Mil.
Total Current Liabilities was Rp525,286 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was 113808.782 + 92346.721 + 60553.792 + 39955.832 = Rp306,665 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 204634.053 + -81839.103 + 174860.476 + -201266.552 = Rp96,389 Mil.

Total Receivables was Rp373,616 Mil.
Revenue was 1249683.755 + 1284469.51 + 1725336.558 + 1393155.905 = Rp5,652,646 Mil.
Gross Profit was 109829.003 + 104774.232 + 148242.746 + 134592.71 = Rp497,439 Mil.
Total Current Assets was Rp2,137,124 Mil.
Total Assets was Rp5,373,748 Mil.
Property, Plant and Equipment(Net PPE) was Rp2,946,182 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,201 Mil.
Selling, General, & Admin. Expense(SGA) was Rp126,717 Mil.
Total Current Liabilities was Rp425,301 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)
	=	(660674.078 / 7088297.709)	/	(373616.14 / 5652645.728)
	=	0.093206	/	0.066096
	=	1.4102

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)
	=	(497438.691 / 5652645.728)	/	(567150.385 / 7088297.709)
	=	0.088001	/	0.080012
	=	1.0998

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 - (2382211.782 + 2995110.956) / 5709534.899)	/	(1 - (2137123.63 + 2946182.152) / 5373748.066)
	=	0.058186	/	0.054048
	=	1.0766

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
	=	7088297.709	/	5652645.728
	=	1.254

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))
	=	(4201.118 / (4201.118 + 2946182.152))	/	(4374.157 / (4374.157 + 2995110.956))
	=	0.001424	/	0.001458
	=	0.9767

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)
	=	(111326.948 / 7088297.709)	/	(126716.663 / 5652645.728)
	=	0.015706	/	0.022417
	=	0.7006

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 + 525286.426) / 5709534.899)	/	((0 + 425300.517) / 5373748.066)
	=	0.092002	/	0.079144
	=	1.1625

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
	=	(306665.127 - 0	-	96388.874)	/	5709534.899
	=	0.036829

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 Supreme Cable Manufacturingmmerce Tbk has a M-score of -1.62 signals that the company is likely to be a manipulator.

PT Supreme Cable Manufacturingmmerce Tbk Beneish M-Score Related Terms

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PT Supreme Cable Manufacturingmmerce Tbk Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » PT Supreme Cable Manufacturing & Commerce Tbk (ISX:SCCO) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

Jalan Kebon Sirih No. 71, Jakarta, IDN, 10340

Website

https://www.sucaco.com

PT Supreme Cable Manufacturing & Commerce Tbk is engaged in the business of manufacturing, in particular, to produce various types of cable and associated products and their raw materials, and Trade in the above products, both at home and abroad. The product portfolio includes E-Catalog, High Voltage Power Cable, Medium Voltage Power Cable, Low Voltage Power Cable, Building Wire, Flexible Cable, Instrument Cable, Solar Cable, Fire Resistant Cable, Airport Lighting Cable, Fiber Optic Cable, Telecommunication Cable, and Bare Conductor.