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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for United Plantation Bhd's Beneish M-Score or its related term are showing as below:
UPBMF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.1 Med: -2.44 Max: -0.36
Current: -2.58
During the past 13 years, the highest Beneish M-Score of United Plantation Bhd was -0.36. The lowest was -3.10. And the median was -2.44.
United Plantation Bhd Beneish M-Score Related Terms
United Plantation Bhd Beneish M-Score Historical Data
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The historical data trend for United Plantation Bhd'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.
For the Farm Products subindustry, United Plantation Bhd'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.
United Plantation Bhd Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, United Plantation Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where United Plantation Bhd's Beneish M-Score falls into.
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 United Plantation Bhd 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 * 0.8959
+
0.528 * 0.9576
+
0.404 * 1.0178
+
0.892 * 1.2474
+
0.115 * 0.9851
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.023818
-
0.327 * 1.0235
=
-2.49
* 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))
=
(24.579 / (24.579 + 364.508))
/
(27.46 / (27.46 + 400.759))
=
0.063171
/
0.064126
=
0.9851
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
=
(201.82 - 0
-
221.158)
/
811.891
=
-0.023818
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.
United Plantation Bhd has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
United Plantation Bhd (UPBMF) has a Beneish M-Score of -2.58 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Plantation Bhd and its competitors. According to the industry distribution chart, United Plantation Bhd ranks #827 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 44.7%.
Is United Plantation Bhd's Beneish M-Score too high?
United Plantation Bhd's current Beneish M-Score is -2.58. Based on the distribution chart, United Plantation Bhd ranks #827 out of 1849 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, United Plantation Bhd has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does United Plantation Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, United Plantation Bhd ranks #827 out of 1849 companies for Beneish M-Score. This puts United Plantation Bhd 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 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 United Plantation Bhd and its competitors. United Plantation Bhd's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Plantation Bhd stock overvalued right now?
United Plantation Bhd (UPBMF) has a current Beneish M-Score of -2.58. The stock's GF Value™ is $2.73, compared to a current price of $3.51 — trading 28.4% above its estimated fair value. The current Beneish M-Score is -2.58. United Plantation Bhd's overall GF Score™ is 83/100 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 United Plantation Bhd (UPBMF), the current Beneish M-Score is -2.58 as of Jun. 26, 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 United Plantation Bhd (UPBMF) Overvalued in 2026?
Based on GuruFocus' analysis, United Plantation Bhd stock appears to be overvalued.
The current stock price of $3.51 is trading 28.4% above its estimated GF Value™ of $2.73.
Key valuation signals for UPBMF:
Beneish M-Score: -2.58
GF Value™: $2.73 vs. price of $3.51 (28.4% above fair value)
No single metric tells the full story. See the UPBMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Plantation Bhd cultivates and processes palm oil, coconuts, and other plantation crops. Its subsidiaries process and manufacture palm oil until it is ready to be packaged and distributed to customers. It owns a light railway to transport products from palm trees to a handful of mills located on its property. End products produced by the company include cooking oils, ready-to-eat oils, soaps, and specialty fats. The company operates in three segments, which include the Plantations, Palm oil refining, and Other segments. The majority of its revenue is generated from the Palm Oil Refining segment.
83GF Score
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