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The purpose of this study was to analyze the influence of fraud hexagon theory on fraudulent financial statement that consist six indicators, called pressure, opportunity, rationalization, capability, arrogance and collusion. The indicators are proxied through external pressure, financial target, nature of industry, total accruals to total assets, change of director, political connections and frequent number of CEO's picture. In this research, the dependent variable is measured using the Beneish M-Score. The population of this research are energy companies that were listed on the Indonesia Stock Exchange between 2020–2022. The sampling method used was purposive sampling technique and obtained a sample of 37 companies with 111 data. The type of data used is secondary data from annual company report. The research hypothesis was tested using Logistic Regression Analysis with SPSS 26. The results of this research indicate that external pressure, financial target, nature of industry and total accruals to total asset have significant positive effect on fraudulent financial statement. Political connection has significant negative effect on fraudulent financial statement. Change in director and frequent number of CEO’s picture have no effect on fraudulent financial statement. Further researchers are advised to increase the research area and time for more accurate results.