Scope Industries Bhd (XKLS:0028) Beneish M-Score: -3.74 (As of Jun. 24, 2026)


What is Scope Industries Bhd Beneish M-Score?

Scope Industries Bhd XKLS:0028 Beneish M-Score is -3.74 as of Jun. 24, 2026. The stock has 2 warning signs investors should review. Among 2,403 Hardware companies, Scope Industries Bhd ranks better than 94.38% 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 -3.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0028' s Beneish M-Score Range Over the Past 10 Years
Min: -11.4   Med: -2.43   Max: 50.29
Current: -3.74

During the past 13 years, the highest Beneish M-Score of Scope Industries Bhd was 50.29. The lowest was -11.40. And the median was -2.43.

Scope Industries Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Scope Industries Bhd'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.

Scope Industries Bhd Beneish M-Score Chart

Scope Industries Bhd Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.42 -1.18 -2.18 -6.28 5.26

Scope Industries Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -11.40 5.26 50.29 -3.44 -3.74

XKLS:0028 vs APH, GLW, TEL: Beneish M-Score Comparison

For the Electronic Components subindustry, Scope Industries Bhd'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.

Scope Industries Bhd Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Scope Industries Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Scope Industries Bhd's Beneish M-Score falls into.


Scope Industries Bhd 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 Scope Industries Bhd 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 * 0.0746+0.528 * 0.6121+0.404 * 0+0.892 * 0.666+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.354+4.679 * 0.04791-0.327 * 0.5153
=-3.74

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM0.81 Mil.
Revenue was 2.955 + 3.278 + 3.145 + 13.343 = RM22.72 Mil.
Gross Profit was 1.196 + 1.685 + 1.587 + 1.726 = RM6.19 Mil.
Total Current Assets was RM105.97 Mil.
Total Assets was RM174.31 Mil.
Property, Plant and Equipment(Net PPE) was RM68.34 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM13.64 Mil.
Total Current Liabilities was RM1.24 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 Mil.
Net Income was 1.163 + -2.532 + 30.495 + -7.665 = RM21.46 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 9.137 + -1.303 + 9.534 + -4.258 = RM13.11 Mil.
 Total Receivables was RM16.23 Mil.
Revenue was 8.721 + 2.866 + 2.935 + 19.595 = RM34.12 Mil.
Gross Profit was 1.419 + 1.271 + 1.344 + 1.659 = RM5.69 Mil.
Total Current Assets was RM50.34 Mil.
Total Assets was RM182.32 Mil.
Property, Plant and Equipment(Net PPE) was RM125.85 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM57.85 Mil.
Total Current Liabilities was RM2.52 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 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)
=(0.806 / 22.721) / (16.229 / 34.117)
=0.035474 / 0.475687
=0.0746

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)
=(5.693 / 34.117) / (6.194 / 22.721)
=0.166867 / 0.272611
=0.6121

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 - (105.971 + 68.336) / 174.307) / (1 - (50.338 + 125.847) / 182.322)
=-0 / 0.03366
=0

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
=22.721 / 34.117
=0.666

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 / (0 + 125.847)) / (0 / (0 + 68.336))
=0 / 0
=1

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)
=(13.639 / 22.721) / (57.852 / 34.117)
=0.600282 / 1.695694
=0.354

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 + 1.24) / 174.307) / ((0 + 2.517) / 182.322)
=0.007114 / 0.013805
=0.5153

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
=(21.461 - 0 - 13.11) / 174.307
=0.04791

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.

Scope Industries Bhd has a M-score of -3.74 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 -3.74 mean?
Scope Industries Bhd (XKLS:0028) has a Beneish M-Score of -3.74 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Scope Industries Bhd and its competitors. According to the industry distribution chart, Scope Industries Bhd ranks #135 out of 2403 companies in the Hardware industry, placing it in the top 5.6%.
Is Scope Industries Bhd's Beneish M-Score too high?
Scope Industries Bhd's current Beneish M-Score is -3.74. Based on the distribution chart, Scope Industries Bhd ranks #135 out of 2403 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers.
How does Scope Industries Bhd's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Scope Industries Bhd ranks #135 out of 2403 companies for Beneish M-Score. This places Scope Industries Bhd in the top 6% 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 a Hardware company?
A good Beneish M-Score depends on the Hardware 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 Scope Industries Bhd and its competitors. Scope Industries Bhd's current Beneish M-Score is -3.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Scope Industries Bhd stock overvalued right now?
Based on GuruFocus' analysis, Scope Industries Bhd (XKLS:0028) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.02, compared to a current price of RM0.08 — trading 300% above its estimated fair value. The current Beneish M-Score is -3.74. 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 Scope Industries Bhd (XKLS:0028), the current Beneish M-Score is -3.74 as of Jun. 24, 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.

Scope Industries Bhd Business Description

Address Lot 6181, Jalan Perusahaan 2, Kawasan Perindustrian Parit Buntar., Parit Buntar, PRK, MYS, 34200
Scope Industries Bhd operates as an investment holding company. The company is engaged in the manufacturing and assembling of electrical and electronic components and products as well as in the cultivation of oil palms. It operates through the following business segments: Manufacturing Division; Plantation Division and Trading Division. Its Manufacturing Division segment accounts for maximum of the firm's revenue. Geographically, it operates in Malaysia, Hong Kong, Europe, Singapore and Taiwan and derives majority of revenue from Hong Kong.