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PT Pembangunan Graha Lestari Indah Tbk (ISX:PGLI) Beneish M-Score : -9.99 (As of May. 23, 2024)


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What is PT Pembangunan Graha Lestari Indah Tbk Beneish M-Score?

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 -9.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for PT Pembangunan Graha Lestari Indah Tbk's Beneish M-Score or its related term are showing as below:

ISX:PGLI' s Beneish M-Score Range Over the Past 10 Years
Min: -42.25   Med: -2.4   Max: 1.26
Current: -9.99

During the past 13 years, the highest Beneish M-Score of PT Pembangunan Graha Lestari Indah Tbk was 1.26. The lowest was -42.25. And the median was -2.40.


PT Pembangunan Graha Lestari Indah Tbk Beneish M-Score Historical Data

The historical data trend for PT Pembangunan Graha Lestari Indah Tbk'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.

* Premium members only.

PT Pembangunan Graha Lestari Indah Tbk Beneish M-Score Chart

PT Pembangunan Graha Lestari Indah Tbk Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.61 -2.99 -1.95 -1.79 -8.63

PT Pembangunan Graha Lestari Indah Tbk Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 -1.97 -3.13 -4.64 -8.63 -9.99

Competitive Comparison of PT Pembangunan Graha Lestari Indah Tbk's Beneish M-Score

For the Lodging subindustry, PT Pembangunan Graha Lestari Indah Tbk'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.


PT Pembangunan Graha Lestari Indah Tbk's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, PT Pembangunan Graha Lestari Indah Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Pembangunan Graha Lestari Indah Tbk's Beneish M-Score falls into.



PT Pembangunan Graha Lestari Indah 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 Pembangunan Graha Lestari Indah 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 * 1.0928+0.528 * 0.9547+0.404 * 0.4091+0.892 * 0.9216+0.115 * 1.0059
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.946+4.679 * -1.313684-0.327 * 4.4433
=-9.99

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was Rp345 Mil.
Revenue was 4560.856 + 5228.741 + 4149.491 + 5299.108 = Rp19,238 Mil.
Gross Profit was 1831.481 + 2636.362 + 1894.096 + 2107.506 = Rp8,469 Mil.
Total Current Assets was Rp9,413 Mil.
Total Assets was Rp40,464 Mil.
Property, Plant and Equipment(Net PPE) was Rp19,118 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,341 Mil.
Selling, General, & Admin. Expense(SGA) was Rp5,468 Mil.
Total Current Liabilities was Rp4,482 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 Mil.
Net Income was -3983.804 + -35701.239 + -8259.551 + -4972.801 = Rp-52,917 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -115.112 + 512.321 + -422.713 + 264.998 = Rp239 Mil.
Total Receivables was Rp342 Mil.
Revenue was 4741.641 + 5709.704 + 5248.885 + 5175.315 = Rp20,876 Mil.
Gross Profit was 1675.794 + 6442.889 + -1568.672 + 2224.259 = Rp8,774 Mil.
Total Current Assets was Rp9,469 Mil.
Total Assets was Rp108,092 Mil.
Property, Plant and Equipment(Net PPE) was Rp20,716 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,554 Mil.
Selling, General, & Admin. Expense(SGA) was Rp6,272 Mil.
Total Current Liabilities was Rp2,655 Mil.
Long-Term Debt & Capital Lease Obligation was Rp39 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)
=(344.866 / 19238.196) / (342.446 / 20875.545)
=0.017926 / 0.016404
=1.0928

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)
=(8774.27 / 20875.545) / (8469.445 / 19238.196)
=0.420313 / 0.440241
=0.9547

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 - (9413.407 + 19118.303) / 40463.977) / (1 - (9468.704 + 20716.297) / 108091.699)
=0.294886 / 0.720746
=0.4091

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
=19238.196 / 20875.545
=0.9216

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))
=(2553.557 / (2553.557 + 20716.297)) / (2341.075 / (2341.075 + 19118.303))
=0.109737 / 0.109093
=1.0059

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)
=(5467.803 / 19238.196) / (6271.526 / 20875.545)
=0.284216 / 0.300425
=0.946

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)
=((0 + 4481.503) / 40463.977) / ((38.814 + 2655.427) / 108091.699)
=0.110753 / 0.024926
=4.4433

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
=(-52917.395 - 0 - 239.494) / 40463.977
=-1.313684

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 Pembangunan Graha Lestari Indah Tbk has a M-score of -9.99 suggests that the company is unlikely to be a manipulator.


PT Pembangunan Graha Lestari Indah Tbk Beneish M-Score Related Terms

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PT Pembangunan Graha Lestari Indah Tbk (ISX:PGLI) Business Description

Traded in Other Exchanges
N/A
Address
Jalan Listrik Number 15, Petisah Tengah, Medan Petisah Medan, Medan, IDN, 20112
PT Pembangunan Graha Lestari Indah Tbk is engaged in the hospitality, restaurants, development, agriculture, trade, mining, industry, land transportation, workshop and services. The company owns and operates the hotels under the brand name Travellers Suites, Le Chic Cafe Plaza Lippo Mall, Le Chic Cafe Sun Plaza, Le Chic Pastry, Le Chic Cafe Medan Fair, Le Chic Cafe Cambridge, Le Chic Cafe Thamrin, banquet and restaurant Tia Cafe. The company's operations are classified into Hotel and Bakehouse segments.

PT Pembangunan Graha Lestari Indah Tbk (ISX:PGLI) Headlines

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