Pacific Online Systems (PHS:LOTO) Beneish M-Score: -1.42 (As of Jun. 24, 2026)


PHS:LOTO Pacific Online Systems Corp PHS:LOTO
58 GF Score
Price ₱1.78
GF Value ₱3.10
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Pacific Online Systems Beneish M-Score?

Pacific Online Systems PHS:LOTO 58 Beneish M-Score is -1.42 as of Jun. 24, 2026. GuruFocus rates PHS:LOTO with a GF Score™ of 58/100 and a GF Value™ of ₱3.10 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 823 Travel & Leisure companies, Pacific Online Systems ranks worse than 89.79% on this metric.

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 -1.42 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Pacific Online Systems's Beneish M-Score or its related term are showing as below:

PHS:LOTO' s Beneish M-Score Range Over the Past 10 Years
Min: -9.51   Med: -3.03   Max: 6.2
Current: -1.42

During the past 13 years, the highest Beneish M-Score of Pacific Online Systems was 6.20. The lowest was -9.51. And the median was -3.03.

Pacific Online Systems Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Pacific Online Systems'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.

Pacific Online Systems Beneish M-Score Chart

Pacific Online Systems Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -6.01 -2.14 -1.11 -4.13 -3.09

Pacific Online Systems Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.96 -2.80 2.42 -3.09 -1.42

PHS:LOTO vs FLUT, DKNG, LNWO: Beneish M-Score Comparison

For the Gambling subindustry, Pacific Online Systems'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.

Pacific Online Systems Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Pacific Online Systems's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Pacific Online Systems's Beneish M-Score falls into.


PHS:LOTO
58GF Score
Pacific Online Systems Corp PHS:LOTO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pacific Online Systems 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 Pacific Online Systems 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 * 1.1222+0.528 * 1.0264+0.404 * 5.4786+0.892 * 0.9937+0.115 * 0.7603
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5994+4.679 * -0.169279-0.327 * 0.8325
=-1.42

* 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 ₱203.0 Mil.
Revenue was 129.464 + 135.779 + 129.464 + 129.464 = ₱524.2 Mil.
Gross Profit was 59.842 + 178.011 + -7.738 + 102.712 = ₱332.8 Mil.
Total Current Assets was ₱923.2 Mil.
Total Assets was ₱1,650.2 Mil.
Property, Plant and Equipment(Net PPE) was ₱455.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱172.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₱128.5 Mil.
Total Current Liabilities was ₱333.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₱139.4 Mil.
Net Income was 29.547 + 37.327 + -8.139 + 3.919 = ₱62.7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0.0 Mil.
Cash Flow from Operations was 43.804 + 150.715 + 73.43 + 74.046 = ₱342.0 Mil.
 Total Receivables was ₱182.0 Mil.
Revenue was 129.464 + 139.089 + 129.464 + 129.464 = ₱527.5 Mil.
Gross Profit was 56.473 + 140.733 + 37.453 + 109.113 = ₱343.8 Mil.
Total Current Assets was ₱1,065.3 Mil.
Total Assets was ₱1,724.3 Mil.
Property, Plant and Equipment(Net PPE) was ₱607.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱160.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₱80.9 Mil.
Total Current Liabilities was ₱280.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₱312.7 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)
=(202.976 / 524.171) / (182.015 / 527.481)
=0.387232 / 0.345065
=1.1222

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)
=(343.772 / 527.481) / (332.827 / 524.171)
=0.651724 / 0.634959
=1.0264

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 - (923.163 + 454.99) / 1650.177) / (1 - (1065.268 + 607.115) / 1724.265)
=0.164845 / 0.030089
=5.4786

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
=524.171 / 527.481
=0.9937

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))
=(160.048 / (160.048 + 607.115)) / (172.057 / (172.057 + 454.99))
=0.208623 / 0.274393
=0.7603

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)
=(128.522 / 524.171) / (80.866 / 527.481)
=0.245191 / 0.153306
=1.5994

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)
=((139.422 + 333.261) / 1650.177) / ((312.706 + 280.585) / 1724.265)
=0.286444 / 0.344083
=0.8325

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
=(62.654 - 0 - 341.995) / 1650.177
=-0.169279

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.

Pacific Online Systems has a M-score of -1.42 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.42 mean?
Pacific Online Systems (PHS:LOTO) has a Beneish M-Score of -1.42 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Pacific Online Systems and its competitors. According to the industry distribution chart, Pacific Online Systems ranks #739 out of 823 companies in the Travel & Leisure industry, placing it in the top 89.8%.
Is Pacific Online Systems' Beneish M-Score too high?
Pacific Online Systems' current Beneish M-Score is -1.42. Based on the distribution chart, Pacific Online Systems ranks #739 out of 823 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Pacific Online Systems has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Pacific Online Systems' Beneish M-Score compare to FLUT and DKNG?
According to the Travel & Leisure industry distribution chart, Pacific Online Systems ranks #739 out of 823 companies for Beneish M-Score. This places Pacific Online Systems 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Pacific Online Systems and its competitors. Pacific Online Systems's current Beneish M-Score is -1.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pacific Online Systems stock overvalued right now?
Based on GuruFocus' analysis, Pacific Online Systems (PHS:LOTO) is currently considered Possible Value Trap. The stock's GF Value™ is ₱3.10, compared to a current price of ₱1.78 — trading 42.6% below its estimated fair value. The current Beneish M-Score is -1.42. Pacific Online Systems' overall GF Score™ is 58/100 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 Pacific Online Systems (PHS:LOTO), the current Beneish M-Score is -1.42 as of Jun. 24, 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 Pacific Online Systems (PHS:LOTO) Overvalued in 2026?

Based on GuruFocus' analysis, Pacific Online Systems stock appears to be undervalued. The current stock price of ₱1.78 is trading 42.6% below its estimated GF Value™ of ₱3.10. GuruFocus considers Pacific Online Systems to be Possible Value Trap.

Key valuation signals for PHS:LOTO:

  • Beneish M-Score: -1.42
  • GF Value™: ₱3.10 vs. price of ₱1.78 (42.6% below fair value)
  • GF Score™: 58/100 with 3 warning signs

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

Pacific Online Systems Business Description

Address Manila Business Center, U1902-C West Tower, Exchange Road, Tektite Towers, Ortigas Center, Pasig, PHL, 1605
Pacific Online Systems Corp is a Philippines-based company operating in the gaming industry. Along with its subsidiaries, the firm is engaged in the development, design, and management of online computer systems, terminals, and software for the gaming industry. It provides leasing of gaming equipment, Keno terminals, an online operating system, and the sale of lottery, sweepstakes, and instant tickets. It also offers consultancy services related to online gaming.
58GF Score

Get the complete analysis for PHS:LOTO

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

₱1.78
Price
₱3.10
GF Value