Khen Energy (SGX:YSV) Beneish M-Score: 7.56 (As of Aug. 20, 2026)

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What is Khen Energy Beneish M-Score?

Khen Energy SGX:YSV Beneish M-Score is 7.56 as of Aug. 20, 2026. The stock has 7 warning signs investors should review. Among 398 Utilities - Independent Power Producers companies, Khen Energy ranks worse than 96.98% 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.

Warning Sign:

Beneish M-Score 7.56 higher than -1.78, which implies that the company might have manipulated its financial results.

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

SGX:YSV' s Beneish M-Score Range Over the Past 10 Years
Min: -5.47   Med: -2.87   Max: 41.82
Current: 7.56

During the past 13 years, the highest Beneish M-Score of Khen Energy was 41.82. The lowest was -5.47. And the median was -2.87.

Khen Energy Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Khen Energy'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.

Khen Energy Beneish M-Score Chart

Khen Energy Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.34 -2.74 -5.47 41.82 7.56

Khen Energy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Jun26
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 46.73 7.58 7.00 7.56 0.00

Khen Energy Beneish M-Score Competitor Comparison

For the Utilities - Renewable subindustry, Khen Energy'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.

Khen Energy Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Khen Energy's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Khen Energy's Beneish M-Score falls into.


Khen Energy 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 Khen Energy 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 * 0.8063+0.528 * 0.9101+0.404 * 0.0057+0.892 * 0.6959+0.115 * 2.9465
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6946+4.679 * 1.740127-0.327 * 0.1326
=5.32

* 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 (Jun26) TTM:Last Year (Mar25) TTM:
Total Receivables was S$2.33 Mil.
Revenue was 0 + 2.286 + 1.426 + 2.423 = S$6.14 Mil.
Gross Profit was 0 + 1.786 + 0.96 + 1.865 = S$4.61 Mil.
Total Current Assets was S$12.02 Mil.
Total Assets was S$31.98 Mil.
Property, Plant and Equipment(Net PPE) was S$19.96 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.55 Mil.
Selling, General, & Admin. Expense(SGA) was S$2.43 Mil.
Total Current Liabilities was S$5.10 Mil.
Long-Term Debt & Capital Lease Obligation was S$9.42 Mil.
Net Income was 0 + 0.902 + 0.121 + 54.043 = S$55.07 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S$0.00 Mil.
Cash Flow from Operations was 0 + 0.041 + 0.017 + -0.643 = S$-0.59 Mil.
 Total Receivables was S$4.15 Mil.
Revenue was 1.41 + 2.608 + 2.588 + 2.21 = S$8.82 Mil.
Gross Profit was 0.713 + 2.007 + 1.988 + 1.322 = S$6.03 Mil.
Total Current Assets was S$19.61 Mil.
Total Assets was S$27.97 Mil.
Property, Plant and Equipment(Net PPE) was S$7.44 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.64 Mil.
Selling, General, & Admin. Expense(SGA) was S$5.02 Mil.
Total Current Liabilities was S$95.50 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.22 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)
=(2.327 / 6.135) / (4.147 / 8.816)
=0.379299 / 0.470395
=0.8063

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)
=(6.03 / 8.816) / (4.611 / 6.135)
=0.683984 / 0.751589
=0.9101

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 - (12.019 + 19.956) / 31.981) / (1 - (19.605 + 7.435) / 27.967)
=0.000188 / 0.033146
=0.0057

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
=6.135 / 8.816
=0.6959

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))
=(0.638 / (0.638 + 7.435)) / (0.55 / (0.55 + 19.956))
=0.079029 / 0.026821
=2.9465

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)
=(2.428 / 6.135) / (5.023 / 8.816)
=0.395762 / 0.56976
=0.6946

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)
=((9.419 + 5.095) / 31.981) / ((0.223 + 95.497) / 27.967)
=0.453832 / 3.422605
=0.1326

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
=(55.066 - 0 - -0.585) / 31.981
=1.740127

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.

Khen Energy has a M-score of 5.32 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 7.56 mean?
Khen Energy (SGX:YSV) has a Beneish M-Score of 7.56 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Khen Energy and its competitors. According to the industry distribution chart, Khen Energy ranks #386 out of 398 companies in the Utilities - Independent Power Producers industry, placing it in the top 97%.
Is Khen Energy's Beneish M-Score too high?
Khen Energy's current Beneish M-Score is 7.56. Based on the distribution chart, Khen Energy ranks #386 out of 398 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers.
How does Khen Energy's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Khen Energy ranks #386 out of 398 companies for Beneish M-Score. This places Khen Energy in the lower 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Khen Energy and its competitors. Khen Energy's current Beneish M-Score is 7.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Khen Energy stock overvalued right now?
Based on GuruFocus' analysis, Khen Energy (SGX:YSV) is currently considered Possible Value Trap. The stock's GF Value™ is S$0.17, compared to a current price of S$0.08 — trading 51.2% below its estimated fair value. The current Beneish M-Score is 7.56. 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 Khen Energy (SGX:YSV), the current Beneish M-Score is 7.56 as of Aug. 20, 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.

Khen Energy Business Description

Address 1 Sims Lane, No. 06-11, Singapore, SGP, 387355
Khen Energy Ltd, formerly known as Charisma Energy Services Ltd, is an investment holding company which engages in the power and energy service businesses. It is involved in owning and leasing hydropower generation equipment, and accommodation modules, and trading of oil and gas related products. It also offers ship owning and chartering services, as well as develops, owns, and operates a solar power plant. The group's revenue, capital expenditure, assets and liabilities were mainly derived from one single business segment, being development and operation of renewable energy power plants for the generation and sale of renewable energy. Its Substantial revenue for the company is generated from its Energy and power services segment. The businesses of the Group are in Singapore and Sri Lanka.