Petrovietnam Drilling & Well Service (STC:PVD) Beneish M-Score: -1.94 (As of Jun. 25, 2026)

What is Petrovietnam Drilling & Well Service Beneish M-Score?

Petrovietnam Drilling & Well Service STC:PVD +3.23% 89 Beneish M-Score is -1.94 as of Jun. 25, 2026. GuruFocus rates STC:PVD with a GF Score™ of 89/100 and a GF Value™ of ₫47,393.82 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 822 Oil & Gas companies, Petrovietnam Drilling & Well Service ranks worse than 83.45% 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.

Good Sign:

Beneish M-Score -1.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Petrovietnam Drilling & Well Service's Beneish M-Score or its related term are showing as below:

STC:PVD' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92 Med: -2.09 Max: 10.13
Current: -1.94

During the past 13 years, the highest Beneish M-Score of Petrovietnam Drilling & Well Service was 10.13. The lowest was -2.92. And the median was -2.09.

Petrovietnam Drilling & Well Service Beneish M-Score Related Terms

Petrovietnam Drilling & Well Service Beneish M-Score Historical Data

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The historical data trend for Petrovietnam Drilling & Well Service'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.

Petrovietnam Drilling & Well Service Beneish M-Score Chart

Petrovietnam Drilling & Well Service Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.32

-2.24

-0.08

-1.90

-2.19

Petrovietnam Drilling & Well Service 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															-2.19	-2.09	-2.20	-2.19	-1.94

STC:PVD vs NE, RIG, VAL: Beneish M-Score Comparison

For the Oil & Gas Drilling subindustry, Petrovietnam Drilling & Well Service'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.

Petrovietnam Drilling & Well Service Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Petrovietnam Drilling & Well Service's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Petrovietnam Drilling & Well Service's Beneish M-Score falls into.

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89GF Score

Petrovietnam Drilling & Well Service Corp STC:PVD

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Petrovietnam Drilling & Well Service 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 Petrovietnam Drilling & Well Service 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 * 1.4917

0.528 * 0.9008

0.404 * 0.8164

0.892 * 1.4153

0.115 * 1.159

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0436

4.679 * -0.007448

0.327 * 1.4117

-1.94

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₫5,463,937 Mil.
Revenue was 3401070.967 + 4312947.646 + 2570643.212 + 2430063.7 = ₫12,714,726 Mil.
Gross Profit was 638078.188 + 664955.552 + 609370.194 + 518890.635 = ₫2,431,295 Mil.
Total Current Assets was ₫10,817,208 Mil.
Total Assets was ₫29,542,201 Mil.
Property, Plant and Equipment(Net PPE) was ₫16,764,848 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫922,173 Mil.
Selling, General, & Admin. Expense(SGA) was ₫519,602 Mil.
Total Current Liabilities was ₫6,497,450 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,553,126 Mil.
Net Income was 306155.718 + 360745.745 + 278246.361 + 239502.44 = ₫1,184,650 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -290128.186 + 1107022.363 + 289307.545 + 298480.893 = ₫1,404,683 Mil.

Total Receivables was ₫2,588,210 Mil.
Revenue was 1502993.716 + 2788840.527 + 2438220.425 + 2253920.465 = ₫8,983,975 Mil.
Gross Profit was 270416.762 + 358675.415 + 448975.111 + 469427.299 = ₫1,547,495 Mil.
Total Current Assets was ₫7,482,204 Mil.
Total Assets was ₫23,231,889 Mil.
Property, Plant and Equipment(Net PPE) was ₫13,861,661 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫891,528 Mil.
Selling, General, & Admin. Expense(SGA) was ₫351,792 Mil.
Total Current Liabilities was ₫3,672,423 Mil.
Long-Term Debt & Capital Lease Obligation was ₫2,483,199 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)
	=	(5463937.02 / 12714725.525)	/	(2588209.736 / 8983975.133)
	=	0.429733	/	0.288092
	=	1.4917

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)
	=	(1547494.587 / 8983975.133)	/	(2431294.569 / 12714725.525)
	=	0.172251	/	0.191219
	=	0.9008

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 - (10817207.633 + 16764847.545) / 29542201.348)	/	(1 - (7482203.589 + 13861660.644) / 23231889.286)
	=	0.066351	/	0.081269
	=	0.8164

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
	=	12714725.525	/	8983975.133
	=	1.4153

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))
	=	(891527.513 / (891527.513 + 13861660.644))	/	(922173.106 / (922173.106 + 16764847.545))
	=	0.060429	/	0.052138
	=	1.159

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)
	=	(519602.144 / 12714725.525)	/	(351791.803 / 8983975.133)
	=	0.040866	/	0.039158
	=	1.0436

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)
	=	((4553125.568 + 6497449.863) / 29542201.348)	/	((2483199.225 + 3672423.286) / 23231889.286)
	=	0.374061	/	0.264964
	=	1.4117

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
	=	(1184650.264 - 0	-	1404682.615)	/	29542201.348
	=	-0.007448

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.

Petrovietnam Drilling & Well Service has a M-score of -1.94 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 -1.94 mean?

Petrovietnam Drilling & Well Service (STC:PVD) has a Beneish M-Score of -1.94 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Petrovietnam Drilling & Well Service and its competitors. According to the industry distribution chart, Petrovietnam Drilling & Well Service ranks #686 out of 822 companies in the Oil & Gas industry, placing it in the top 83.5%.

Is Petrovietnam Drilling & Well Service's Beneish M-Score too high?

Petrovietnam Drilling & Well Service's current Beneish M-Score is -1.94. Based on the distribution chart, Petrovietnam Drilling & Well Service ranks #686 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Petrovietnam Drilling & Well Service has a GF Score™ of 89/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Petrovietnam Drilling & Well Service's Beneish M-Score compare to NE and RIG?

According to the Oil & Gas industry distribution chart, Petrovietnam Drilling & Well Service ranks #686 out of 822 companies for Beneish M-Score. This places Petrovietnam Drilling & Well Service 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 an Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 Petrovietnam Drilling & Well Service and its competitors. Petrovietnam Drilling & Well Service's current Beneish M-Score is -1.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Petrovietnam Drilling & Well Service stock overvalued right now?

Based on GuruFocus' analysis, Petrovietnam Drilling & Well Service (STC:PVD) is currently considered Possible Value Trap. The stock's GF Value™ is ₫47,393.82, compared to a current price of ₫31,950.00 — trading 32.6% below its estimated fair value. The current Beneish M-Score is -1.94. Petrovietnam Drilling & Well Service's overall GF Score™ is 89/100 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 Petrovietnam Drilling & Well Service (STC:PVD), the current Beneish M-Score is -1.94 as of Jun. 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 Petrovietnam Drilling & Well Service (STC:PVD) Overvalued in 2026?

Based on GuruFocus' analysis, Petrovietnam Drilling & Well Service stock appears to be undervalued. The current stock price of ₫31,950.00 is trading 32.6% below its estimated GF Value™ of ₫47,393.82. GuruFocus considers Petrovietnam Drilling & Well Service to be Possible Value Trap.

Key valuation signals for STC:PVD:

Beneish M-Score: -1.94
GF Value™: ₫47,393.82 vs. price of ₫31,950.00 (32.6% below fair value)
GF Score™: 89/100 with 3 warning signs

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

Petrovietnam Drilling & Well Service Business Description

Industry Energy Oil & Gas

Comparable Companies HSTC:OIL HSTC:PVS STC:PET HSTC:PGS STC:PGD HSTC:PVC HSTC:PPT HSTC:DMS STC:PLX ADX:ADNOCDRILL NE RIG VAL SAU:2382 SHSE:600871 PTEN HP SDRL OSL:ODL SOC

Address 4th Floor, Sailing Tower, 111A Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh, VNM

Website http://www.pvdrilling.com.vn

Petrovietnam Drilling & Well Service Corp is a provider of drilling rigs and technical services for the exploration and exploitation of oil and gas industry locally and internationally. The company operates through three segments namely Drilling services, Trading, and Other services. Its Drilling services segment offers drilling rigs and drilling services. The Trading segment produces material and equipment for drilling-related activities. Its Other services segment is involved in administering well services, wireline logging, oil spill control service, drilling manpower supply service, investment-management project consulting service, management consulting service and other related services. Geographically it operates in Vietnam, Malaysia, Myanmar, Algeria.

89GF Score

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

₫31,950.00

Price

₫47,393.82

GF Value

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