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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.
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 Tunas Baru Lampung Tbk's Beneish M-Score or its related term are showing as below:
ISX:TBLA'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.76 Med: -2.28 Max: -1.03
Current: -1.62
During the past 13 years, the highest Beneish M-Score of PT Tunas Baru Lampung Tbk was -1.03. The lowest was -2.76. And the median was -2.28.
PT Tunas Baru Lampung Tbk Beneish M-Score Related Terms
PT Tunas Baru Lampung Tbk Beneish M-Score Historical Data
* 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 Packaged Foods subindustry, PT Tunas Baru Lampung 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 Tunas Baru Lampung Tbk Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Tunas Baru Lampung Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Tunas Baru Lampung Tbk's Beneish M-Score falls into.
PT Tunas Baru Lampung 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 Tunas Baru Lampung 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 * 0.9184
+
0.528 * 1.0431
+
0.404 * 2.4637
+
0.892 * 1.2544
+
0.115 * 1.0002
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2738
+
4.679 * 0.031294
-
0.327 * 1.0055
=
-1.62
* 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))
=
(129965 / (129965 + 14254366))
/
(133384 / (133384 + 14632258))
=
0.009035
/
0.009033
=
1.0002
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
=
(901122 - 0
-
-62089)
/
30779793
=
0.031294
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 Tunas Baru Lampung Tbk has a M-score of -1.62 signals that the company is likely to be a manipulator.
PT Tunas Baru Lampung Tbk (ISX:TBLA) has a Beneish M-Score of -1.62 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Tunas Baru Lampung Tbk and its competitors. According to the industry distribution chart, PT Tunas Baru Lampung Tbk ranks #1594 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 86.1%.
Is PT Tunas Baru Lampung Tbk's Beneish M-Score too high?
PT Tunas Baru Lampung Tbk's current Beneish M-Score is -1.62. Based on the distribution chart, PT Tunas Baru Lampung Tbk ranks #1594 out of 1851 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, PT Tunas Baru Lampung Tbk has a GF Score™ of 87/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Tunas Baru Lampung Tbk's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, PT Tunas Baru Lampung Tbk ranks #1594 out of 1851 companies for Beneish M-Score. This places PT Tunas Baru Lampung Tbk in the lower half of its industry. 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Tunas Baru Lampung Tbk and its competitors. PT Tunas Baru Lampung Tbk's current Beneish M-Score is -1.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Tunas Baru Lampung Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Tunas Baru Lampung Tbk (ISX:TBLA) is currently considered Possible Value Trap. The stock's GF Value™ is Rp940.83, compared to a current price of Rp645.00 — trading 31.4% below its estimated fair value. The current Beneish M-Score is -1.62. PT Tunas Baru Lampung Tbk's overall GF Score™ is 87/100 with 6 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 Tunas Baru Lampung Tbk (ISX:TBLA), the current Beneish M-Score is -1.62 as of Jul. 25, 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 Tunas Baru Lampung Tbk (ISX:TBLA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Tunas Baru Lampung Tbk stock appears to be undervalued.
The current stock price of Rp645.00 is trading 31.4% below its estimated GF Value™ of Rp940.83.
GuruFocus considers PT Tunas Baru Lampung Tbk to be Possible Value Trap.
Key valuation signals for ISX:TBLA:
Beneish M-Score: -1.62
GF Value™: Rp940.83 vs. price of Rp645.00 (31.4% below fair value)
No single metric tells the full story. See the ISX:TBLA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Tunas Baru Lampung Tbk is an Indonesian company engaged in the business of manufacturing palm cooking oil, sugar, crude palm oil, soap, and biodiesel, and in the palm and sugar cane plantations. The company also produces crude coconut oil, stearine, crude palm oil, palm kernel oil, and other consumer products such as cream soap and laundry soap. The company operates through two business segments, namely Plantations and Manufacturing. The company's product brands include Gunung Agung, Bumi Waras, Rossy, Tawon, Burung Merak, Kompas, Segar, and Rose Brand. The company generates maximum revenue from the Manufacturing segment.
87GF Score
Get the complete analysis for ISX:TBLA
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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