Productive Business Solutions (XJAM:PBS) Beneish M-Score: -2.70 (As of Jun. 26, 2026)


XJAM:PBS Productive Business Solutions Ltd XJAM:PBS
91 GF Score
Price $0.34
GF Value $2.23
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Productive Business Solutions Beneish M-Score?

Productive Business Solutions XJAM:PBS 91 Beneish M-Score is -2.70 as of Jun. 26, 2026. GuruFocus rates XJAM:PBS with a GF Score™ of 91/100 and a GF Value™ of $2.23 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,926 Industrial Products companies, Productive Business Solutions ranks better than 72.39% 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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Productive Business Solutions's Beneish M-Score or its related term are showing as below:

XJAM:PBS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.84   Med: -2.59   Max: -1.42
Current: -2.7

During the past 9 years, the highest Beneish M-Score of Productive Business Solutions was -1.42. The lowest was -2.84. And the median was -2.59.

Productive Business Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Productive Business Solutions'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.

Productive Business Solutions Beneish M-Score Chart

Productive Business Solutions Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -2.64 -1.42 -2.40 -2.84 -2.70

Productive Business Solutions Semi-Annual Data
Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -2.64 -1.42 -2.40 -2.84 -2.70

Productive Business Solutions Beneish M-Score Competitor Comparison

For the Business Equipment & Supplies subindustry, Productive Business Solutions'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.

Productive Business Solutions Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Productive Business Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Productive Business Solutions's Beneish M-Score falls into.


XJAM:PBS
91GF Score
Productive Business Solutions Ltd XJAM:PBS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Productive Business Solutions 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 Productive Business Solutions 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 * 0.8522+0.528 * 1.0554+0.404 * 1.014+0.892 * 1.1825+0.115 * 1.0006
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9675+4.679 * -0.06272-0.327 * 0.996
=-2.70

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $110.9 Mil.
Revenue was $387.4 Mil.
Gross Profit was $114.4 Mil.
Total Current Assets was $213.6 Mil.
Total Assets was $399.7 Mil.
Property, Plant and Equipment(Net PPE) was $48.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $20.3 Mil.
Selling, General, & Admin. Expense(SGA) was $88.2 Mil.
Total Current Liabilities was $148.0 Mil.
Long-Term Debt & Capital Lease Obligation was $160.0 Mil.
Net Income was $7.5 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $32.5 Mil.
 Total Receivables was $110.0 Mil.
Revenue was $327.6 Mil.
Gross Profit was $102.1 Mil.
Total Current Assets was $206.0 Mil.
Total Assets was $377.3 Mil.
Property, Plant and Equipment(Net PPE) was $43.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $18.1 Mil.
Selling, General, & Admin. Expense(SGA) was $77.1 Mil.
Total Current Liabilities was $180.7 Mil.
Long-Term Debt & Capital Lease Obligation was $111.2 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)
=(110.882 / 387.389) / (110.029 / 327.607)
=0.286229 / 0.335857
=0.8522

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)
=(102.072 / 327.607) / (114.362 / 387.389)
=0.311568 / 0.295212
=1.0554

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 - (213.57 + 48.667) / 399.716) / (1 - (206.02 + 43.272) / 377.259)
=0.343942 / 0.339202
=1.014

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
=387.389 / 327.607
=1.1825

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))
=(18.086 / (18.086 + 43.272)) / (20.325 / (20.325 + 48.667))
=0.294762 / 0.294599
=1.0006

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)
=(88.195 / 387.389) / (77.091 / 327.607)
=0.227665 / 0.235315
=0.9675

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)
=((159.98 + 148.035) / 399.716) / ((111.158 + 180.726) / 377.259)
=0.770585 / 0.773697
=0.996

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
=(7.461 - 0 - 32.531) / 399.716
=-0.06272

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.

Productive Business Solutions has a M-score of -2.70 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 -2.70 mean?
Productive Business Solutions (XJAM:PBS) has a Beneish M-Score of -2.70 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Productive Business Solutions and its competitors. According to the industry distribution chart, Productive Business Solutions ranks #808 out of 2926 companies in the Industrial Products industry, placing it in the top 27.6%.
Is Productive Business Solutions' Beneish M-Score too high?
Productive Business Solutions' current Beneish M-Score is -2.70. Based on the distribution chart, Productive Business Solutions ranks #808 out of 2926 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Productive Business Solutions has a GF Score™ of 91/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Productive Business Solutions' Beneish M-Score compare to competitors?
According to the Industrial Products industry distribution chart, Productive Business Solutions ranks #808 out of 2926 companies for Beneish M-Score. This puts Productive Business Solutions 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Productive Business Solutions and its competitors. Productive Business Solutions's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Productive Business Solutions stock overvalued right now?
Based on GuruFocus' analysis, Productive Business Solutions (XJAM:PBS) is currently considered Possible Value Trap. The stock's GF Value™ is $2.23, compared to a current price of $0.34 — trading 84.6% below its estimated fair value. The current Beneish M-Score is -2.70. Productive Business Solutions' overall GF Score™ is 91/100 with 5 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 Productive Business Solutions (XJAM:PBS), the current Beneish M-Score is -2.70 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 Productive Business Solutions (XJAM:PBS) Overvalued in 2026?

Based on GuruFocus' analysis, Productive Business Solutions stock appears to be undervalued. The current stock price of $0.34 is trading 84.6% below its estimated GF Value™ of $2.23. GuruFocus considers Productive Business Solutions to be Possible Value Trap.

Key valuation signals for XJAM:PBS:

  • Beneish M-Score: -2.70
  • GF Value™: $2.23 vs. price of $0.34 (84.6% below fair value)
  • GF Score™: 91/100 with 5 warning signs

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

Productive Business Solutions Business Description

Address 42 Warrens Industrial Park, Facey House, Saint Michael, Warrens, BRB
Productive Business Solutions Ltd is the distributor of printing equipment, business machines, handsets and related accessories, automated teller machines, security checkpoints, system integration, cloud services, data analytics, communication solutions, e-transactions, development of software and other technology solutions, along with subsidiaries. It has two reportable segments of business: Central America activities involved in the business of sale and leasing of reprographic products, including printing equipment, business machines, and related accessories to customers in the Central America Region; Caribbean activities include sale and leasing of reprographic products including printing equipment, business machines and related accessories to customers in the Caribbean region.
91GF Score

Get the complete analysis for XJAM:PBS

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

$0.34
Price
$2.23
GF Value