Ecobuilt Holdings Bhd (XKLS:0059) Beneish M-Score: -3.79 (As of Jul. 06, 2026)


What is Ecobuilt Holdings Bhd Beneish M-Score?

Ecobuilt Holdings Bhd XKLS:0059 Beneish M-Score is -3.79 as of Jul. 06, 2026. The stock has 3 warning signs investors should review. Among 1,699 Construction companies, Ecobuilt Holdings Bhd ranks better than 94.17% 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 -3.79 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0059' s Beneish M-Score Range Over the Past 10 Years
Min: -10.35   Med: -1.88   Max: 42.65
Current: -3.79

During the past 13 years, the highest Beneish M-Score of Ecobuilt Holdings Bhd was 42.65. The lowest was -10.35. And the median was -1.88.

Ecobuilt Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ecobuilt Holdings 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.

Ecobuilt Holdings Bhd Beneish M-Score Chart

Ecobuilt Holdings Bhd Annual Data
Trend Dec12 Dec13 Dec14 Dec15 May18 May19 May20 May21 May22 May23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.94 42.65 -1.63 -10.35 -3.79

Ecobuilt Holdings Bhd Quarterly Data
Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
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 0.00 0.00 -3.14 0.00 0.00

XKLS:0059 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Ecobuilt Holdings 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.

Ecobuilt Holdings Bhd Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Ecobuilt Holdings Bhd's Beneish M-Score distribution charts can be found below:

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


Ecobuilt Holdings 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 Ecobuilt Holdings 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 * 0.828+0.528 * 0.057+0.404 * 1.2074+0.892 * 0.9826+0.115 * 0.7534
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.142073-0.327 * 1.101
=-3.79

* 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 (May23) TTM:Last Year (May22) TTM:
Total Receivables was RM112.29 Mil.
Revenue was RM164.06 Mil.
Gross Profit was RM-16.93 Mil.
Total Current Assets was RM119.14 Mil.
Total Assets was RM182.34 Mil.
Property, Plant and Equipment(Net PPE) was RM18.26 Mil.
Depreciation, Depletion and Amortization(DDA) was RM6.09 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM96.32 Mil.
Long-Term Debt & Capital Lease Obligation was RM4.24 Mil.
Net Income was RM-30.47 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM-4.56 Mil.
 Total Receivables was RM138.01 Mil.
Revenue was RM166.96 Mil.
Gross Profit was RM-0.98 Mil.
Total Current Assets was RM150.49 Mil.
Total Assets was RM220.19 Mil.
Property, Plant and Equipment(Net PPE) was RM24.77 Mil.
Depreciation, Depletion and Amortization(DDA) was RM5.75 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM103.15 Mil.
Long-Term Debt & Capital Lease Obligation was RM7.14 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)
=(112.286 / 164.057) / (138.006 / 166.964)
=0.684433 / 0.826561
=0.828

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)
=(-0.983 / 166.964) / (-16.934 / 164.057)
=-0.005887 / -0.10322
=0.057

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 - (119.143 + 18.26) / 182.336) / (1 - (150.485 + 24.767) / 220.193)
=0.24643 / 0.204098
=1.2074

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
=164.057 / 166.964
=0.9826

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))
=(5.752 / (5.752 + 24.767)) / (6.092 / (6.092 + 18.26))
=0.188473 / 0.250164
=0.7534

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)
=(0 / 164.057) / (0 / 166.964)
=0 / 0
=1

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)
=((4.236 + 96.315) / 182.336) / ((7.139 + 103.152) / 220.193)
=0.55146 / 0.500883
=1.101

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
=(-30.469 - 0 - -4.564) / 182.336
=-0.142073

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.

Ecobuilt Holdings Bhd has a M-score of -3.79 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 -3.79 mean?
Ecobuilt Holdings Bhd (XKLS:0059) has a Beneish M-Score of -3.79 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ecobuilt Holdings Bhd and its competitors. According to the industry distribution chart, Ecobuilt Holdings Bhd ranks #99 out of 1699 companies in the Construction industry, placing it in the top 5.8%.
Is Ecobuilt Holdings Bhd's Beneish M-Score too high?
Ecobuilt Holdings Bhd's current Beneish M-Score is -3.79. Based on the distribution chart, Ecobuilt Holdings Bhd ranks #99 out of 1699 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does Ecobuilt Holdings Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Ecobuilt Holdings Bhd ranks #99 out of 1699 companies for Beneish M-Score. This places Ecobuilt Holdings 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Ecobuilt Holdings Bhd and its competitors. Ecobuilt Holdings Bhd's current Beneish M-Score is -3.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ecobuilt Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Ecobuilt Holdings Bhd (XKLS:0059) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.04, compared to a current price of RM0.04 — trading 12.5% below its estimated fair value. The current Beneish M-Score is -3.79. 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 Ecobuilt Holdings Bhd (XKLS:0059), the current Beneish M-Score is -3.79 as of Jul. 06, 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.

Ecobuilt Holdings Bhd Business Description

Address No.1, Jalan 3/144A, D-G-11 & D-1-11, Medan Connaught, Kuala Lumpur, SGR, MYS, 56000
Ecobuilt Holdings Bhd is engaged in investment holding activities and civil engineering, building contracting & construction, property development. Its segments include Investment holding and Construction. The Construction segment which earns the majority of revenue engages in construction work.