PTmpoerna Agro Tbk Beneish M-Score Historical Data
The historical data trend for PTmpoerna Agro 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.
PTmpoerna Agro Tbk Beneish M-Score Chart
|
PTmpoerna Agro Tbk Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.43 |
-3.19 |
-2.17 |
-2.59 |
-2.87 |
|
PTmpoerna Agro Tbk Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.59 |
-2.63 |
-2.69 |
-2.54 |
-2.87 |
Competitive Comparison of PTmpoerna Agro Tbk's Beneish M-Score
For the Farm Products subindustry, PTmpoerna Agro 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.
PTmpoerna Agro Tbk's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PTmpoerna Agro Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PTmpoerna Agro Tbk's Beneish M-Score falls into.
PTmpoerna Agro 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 PTmpoerna Agro 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 * 0.9215 | + | 0.528 * 0.8398 | + | 0.404 * 1.0013 | + | 0.892 * 1.0131 | + | 0.115 * 0.8933 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9761 | + | 4.679 * -0.047393 | - | 0.327 * 1.0588 |
| = | -2.87 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was Rp332,040 Mil.
Revenue was 2208740 + 1216719 + 1134862 + 1133907 = Rp5,694,228 Mil.
Gross Profit was 887951 + 245417 + 221792 + 245462 = Rp1,600,622 Mil.
Total Current Assets was Rp2,224,658 Mil.
Total Assets was Rp10,702,351 Mil.
Property, Plant and Equipment(Net PPE) was Rp7,769,099 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp17,579 Mil.
Selling, General, & Admin. Expense(SGA) was Rp212,408 Mil.
Total Current Liabilities was Rp1,760,388 Mil.
Long-Term Debt & Capital Lease Obligation was Rp2,343,164 Mil.
Net Income was 501288 + 87100 + 59846 + 100326 = Rp748,560 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 782001 + 154276 + -15293 + 334788 = Rp1,255,772 Mil.
|
Total Receivables was Rp355,677 Mil.
Revenue was 1458313 + 1614793 + 1146129 + 1401268 = Rp5,620,503 Mil.
Gross Profit was 340555 + 447885 + 298397 + 240031 = Rp1,326,868 Mil.
Total Current Assets was Rp1,615,746 Mil.
Total Assets was Rp10,067,533 Mil.
Property, Plant and Equipment(Net PPE) was Rp7,786,068 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp15,738 Mil.
Selling, General, & Admin. Expense(SGA) was Rp214,783 Mil.
Total Current Liabilities was Rp1,309,773 Mil.
Long-Term Debt & Capital Lease Obligation was Rp2,336,030 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) |
| = | (332040 / 5694228) | / | (355677 / 5620503) |
| = | 0.058312 | / | 0.063282 |
| | = | 0.9215 |
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) |
| = | (1326868 / 5620503) | / | (1600622 / 5694228) |
| = | 0.236076 | / | 0.281096 |
| | = | 0.8398 |
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 - (2224658 + 7769099) / 10702351) | / | (1 - (1615746 + 7786068) / 10067533) |
| = | 0.066209 | / | 0.066125 |
| | = | 1.0013 |
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 |
| = | 5694228 | / | 5620503 |
| | = | 1.0131 |
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)) |
| = | (15738 / (15738 + 7786068)) | / | (17579 / (17579 + 7769099)) |
| = | 0.002017 | / | 0.002258 |
| | = | 0.8933 |
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) |
| = | (212408 / 5694228) | / | (214783 / 5620503) |
| = | 0.037302 | / | 0.038214 |
| | = | 0.9761 |
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) |
| = | ((2343164 + 1760388) / 10702351) | / | ((2336030 + 1309773) / 10067533) |
| = | 0.383425 | / | 0.362135 |
| | = | 1.0588 |
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 |
| = | (748560 - 0 | - | 1255772) | / | 10702351 |
| | = | -0.047393 |
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.
PTmpoerna Agro Tbk has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ISX:SGRO has been successfully added to your