PT Wahana Ottomitra Multiartha Tbk (ISX:WOMF) Beneish M-Score: -2.39 (As of Jul. 12, 2026)


ISX:WOMF PT Wahana Ottomitra Multiartha Tbk ISX:WOMF
62 GF Score
Price Rp254.00
GF Value Rp360.18
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is PT Wahana Ottomitra Multiartha Tbk Beneish M-Score?

PT Wahana Ottomitra Multiartha Tbk ISX:WOMF +4.96% 62 Beneish M-Score is -2.39 as of Jul. 12, 2026. GuruFocus rates ISX:WOMF with a GF Score™ of 62/100 and a GF Value™ of Rp360.18 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 485 Credit Services companies, PT Wahana Ottomitra Multiartha Tbk ranks better than 61.65% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ISX:WOMF' s Beneish M-Score Range Over the Past 10 Years
Min: -5.56   Med: -2.2   Max: -0.35
Current: -2.39

During the past 13 years, the highest Beneish M-Score of PT Wahana Ottomitra Multiartha Tbk was -0.35. The lowest was -5.56. And the median was -2.20.

ISX:WOMF
62GF Score
PT Wahana Ottomitra Multiartha Tbk ISX:WOMF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Wahana Ottomitra Multiartha 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 Wahana Ottomitra Multiartha 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 * 1+0.528 * 1+0.404 * 1.0095+0.892 * 0.9922+0.115 * 0.8531
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0712+4.679 * 0.033936-0.327 * 1.0981
=-2.39

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was Rp0 Mil.
Revenue was 425007 + 414218 + 415625 + 389193 = Rp1,644,043 Mil.
Gross Profit was 425007 + 414218 + 415625 + 389193 = Rp1,644,043 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp8,780,550 Mil.
Property, Plant and Equipment(Net PPE) was Rp162,968 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp90,721 Mil.
Selling, General, & Admin. Expense(SGA) was Rp519,816 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp6,442,619 Mil.
Net Income was 27110 + 39094 + 18687 + 21813 = Rp106,704 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 63416 + -97767 + -111053 + -45868 = Rp-191,272 Mil.
 Total Receivables was Rp0 Mil.
Revenue was 412624 + 427459 + 417649 + 399171 = Rp1,656,903 Mil.
Gross Profit was 412624 + 427459 + 417649 + 399171 = Rp1,656,903 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp6,909,258 Mil.
Property, Plant and Equipment(Net PPE) was Rp192,327 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp84,427 Mil.
Selling, General, & Admin. Expense(SGA) was Rp489,064 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp4,616,804 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)
=(0 / 1644043) / (0 / 1656903)
=0 / 0
=1

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)
=(1656903 / 1656903) / (1644043 / 1644043)
=1 / 1
=1

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 - (0 + 162968) / 8780550) / (1 - (0 + 192327) / 6909258)
=0.98144 / 0.972164
=1.0095

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
=1644043 / 1656903
=0.9922

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))
=(84427 / (84427 + 192327)) / (90721 / (90721 + 162968))
=0.305062 / 0.357607
=0.8531

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)
=(519816 / 1644043) / (489064 / 1656903)
=0.316182 / 0.295168
=1.0712

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)
=((6442619 + 0) / 8780550) / ((4616804 + 0) / 6909258)
=0.733738 / 0.668205
=1.0981

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
=(106704 - 0 - -191272) / 8780550
=0.033936

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 Wahana Ottomitra Multiartha Tbk has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.39 mean?
PT Wahana Ottomitra Multiartha Tbk (ISX:WOMF) has a Beneish M-Score of -2.39 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PT Wahana Ottomitra Multiartha Tbk and its competitors. According to the industry distribution chart, PT Wahana Ottomitra Multiartha Tbk ranks #186 out of 485 companies in the Credit Services industry, placing it in the top 38.4%.
Is PT Wahana Ottomitra Multiartha Tbk's Beneish M-Score too high?
PT Wahana Ottomitra Multiartha Tbk's current Beneish M-Score is -2.39. Based on the distribution chart, PT Wahana Ottomitra Multiartha Tbk ranks #186 out of 485 companies in the Credit Services industry, which is above the industry midpoint. Overall, PT Wahana Ottomitra Multiartha Tbk has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Wahana Ottomitra Multiartha Tbk's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, PT Wahana Ottomitra Multiartha Tbk ranks #186 out of 485 companies for Beneish M-Score. This puts PT Wahana Ottomitra Multiartha Tbk in the upper 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Wahana Ottomitra Multiartha Tbk and its competitors. PT Wahana Ottomitra Multiartha Tbk's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Wahana Ottomitra Multiartha Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Wahana Ottomitra Multiartha Tbk (ISX:WOMF) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp360.18, compared to a current price of Rp254.00 — trading 29.5% below its estimated fair value. The current Beneish M-Score is -2.39. PT Wahana Ottomitra Multiartha Tbk's overall GF Score™ is 62/100 with 7 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 Wahana Ottomitra Multiartha Tbk (ISX:WOMF), the current Beneish M-Score is -2.39 as of Jul. 12, 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 Wahana Ottomitra Multiartha Tbk (ISX:WOMF) Overvalued in 2026?

Based on GuruFocus' analysis, PT Wahana Ottomitra Multiartha Tbk stock appears to be undervalued. The current stock price of Rp254.00 is trading 29.5% below its estimated GF Value™ of Rp360.18. GuruFocus considers PT Wahana Ottomitra Multiartha Tbk to be Modestly Undervalued.

Key valuation signals for ISX:WOMF:

  • Beneish M-Score: -2.39
  • GF Value™: Rp360.18 vs. price of Rp254.00 (29.5% below fair value)
  • GF Score™: 62/100 with 7 warning signs

No single metric tells the full story. See the ISX:WOMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

PT Wahana Ottomitra Multiartha Tbk Business Description

Other Exchanges WB7:Germany
Address Jalan Yos Sudarso Kav. 85, Altira Office Tower, Floor 32, 33, 35, Kelurahan Sunter Jaya, Kecamatan Tanjung Priok, Jakarta Utara, Jakarta, IDN, 14350
PT Wahana Ottomitra Multiartha Tbk is a finance company. The company provides investment financing, working capital financing, service financing, multipurpose financing, and other financing activities. The company offers various types of products and services at Company including Multipurpose Goods Financing, Multipurpose Services Financing, Investment Financing - Sale and Leaseback MobilKu, Working Capital Financing, and Selling and Buying Financing (Murabahah Contracts). The Company has consumer financing activities in several geographical areas in Indonesia (Jakarta, Bogor, Tangerang, Bekasi, East Java, Bali, Kalimantan, Sulawesi, Maluku, and others), for new and used two-wheeled motor vehicles.
62GF Score

Get the complete analysis for ISX:WOMF

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Rp254.00
Price
Rp360.18
GF Value