Kim HengSGX:5G2 Beneish M-Score is -3.40 as of Jul. 01, 2026. The stock has 5 warning signs investors should review. Among 824 Oil & Gas companies, Kim Heng ranks better than 85.68% 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 -3.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kim Heng's Beneish M-Score or its related term are showing as below:
SGX:5G2'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.73 Med: -2.57 Max: -2.37
Current: -3.4
During the past 13 years, the highest Beneish M-Score of Kim Heng was -2.37. The lowest was -3.73. And the median was -2.57.
Kim Heng Beneish M-Score Related Terms
Kim Heng Beneish M-Score Historical Data
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The historical data trend for Kim Heng'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.
SGX:5G2 vs SLB, BKR, HAL: Beneish M-Score Comparison
For the Oil & Gas Equipment & Services subindustry, Kim Heng'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.
Kim Heng Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Kim Heng's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kim Heng'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 Kim Heng 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 * 0.6263
+
0.528 * 1.3507
+
0.404 * 1.0692
+
0.892 * 0.9858
+
0.115 * 0.8057
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0356
+
4.679 * -0.158067
-
0.327 * 1.0366
=
-3.40
* 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))
=
(8.796 / (8.796 + 105.493))
/
(11.64 / (11.64 + 110.218))
=
0.076963
/
0.095521
=
0.8057
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
=
(-8.823 - 0
-
18.03)
/
169.884
=
-0.158067
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.
Kim Heng has a M-score of -3.40 suggests that the company is unlikely to be a manipulator.
Kim Heng (SGX:5G2) has a Beneish M-Score of -3.40 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kim Heng and its competitors. According to the industry distribution chart, Kim Heng ranks #118 out of 824 companies in the Oil & Gas industry, placing it in the top 14.3%.
Is Kim Heng's Beneish M-Score too high?
Kim Heng's current Beneish M-Score is -3.40. Based on the distribution chart, Kim Heng ranks #118 out of 824 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers.
How does Kim Heng's Beneish M-Score compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, Kim Heng ranks #118 out of 824 companies for Beneish M-Score. This places Kim Heng in the top 14% of its industry — outperforming the majority of peers. 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 Kim Heng and its competitors. Kim Heng's current Beneish M-Score is -3.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kim Heng stock overvalued right now?
Based on GuruFocus' analysis, Kim Heng (SGX:5G2) is currently considered Modestly Undervalued. The stock's GF Value™ is S$0.11, compared to a current price of S$0.08 — trading 26.4% below its estimated fair value. The current Beneish M-Score is -3.40. 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 Kim Heng (SGX:5G2), the current Beneish M-Score is -3.40 as of Jul. 01, 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.
Kim Heng Ltd is an integrated offshore and marine value chain service provider. It is engaged in providing services like supply chain management which includes the provision of logistics, general shipping, and crew management, and provision of offshore supply vessels and heavy lift equipment, vessel sales, and newbuild which includes purchase and refurbishment of vessels for onselling, and heavy equipment sale and rental which includes leasing, sale, maintenance, import and export of heavy equipment, and providing equipment and machinery like a crawler, lorry, and mobile cranes. The operating segments are Offshore Rig Services and Supply Chain Management, and Vessel Sales and Newbuilds where offshore rig services contribute the majority of revenue.
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