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Greenyield Bhd (XKLS:0136) Beneish M-Score : -2.96 (As of Mar. 05, 2025)


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What is Greenyield Bhd Beneish M-Score?

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 -2.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0136' s Beneish M-Score Range Over the Past 10 Years
Min: -3.91   Med: -2.5   Max: -1.3
Current: -2.96

During the past 13 years, the highest Beneish M-Score of Greenyield Bhd was -1.30. The lowest was -3.91. And the median was -2.50.


Greenyield Bhd Beneish M-Score Historical Data

The historical data trend for Greenyield 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.

* Premium members only.

Greenyield Bhd Beneish M-Score Chart

Greenyield Bhd Annual Data
Trend Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.65 -2.16 -2.26 -1.30 -2.91

Greenyield Bhd Quarterly Data
Oct19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 -2.22 -2.91 -3.11 -2.36 -2.96

Competitive Comparison of Greenyield Bhd's Beneish M-Score

For the Farm Products subindustry, Greenyield 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.


Greenyield Bhd's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Greenyield Bhd's Beneish M-Score distribution charts can be found below:

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



Greenyield 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 Greenyield 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 * 1.0155+0.528 * 0.7121+0.404 * 0.9715+0.892 * 0.865+0.115 * 0.5563
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1259+4.679 * -0.030127-0.327 * 0.9948
=-2.96

* 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 (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was RM6.04 Mil.
Revenue was 8.794 + 7.626 + 8.512 + 9.885 = RM34.82 Mil.
Gross Profit was 2.51 + 2.192 + 2.565 + 0.415 = RM7.68 Mil.
Total Current Assets was RM18.35 Mil.
Total Assets was RM245.46 Mil.
Property, Plant and Equipment(Net PPE) was RM220.85 Mil.
Depreciation, Depletion and Amortization(DDA) was RM6.11 Mil.
Selling, General, & Admin. Expense(SGA) was RM16.03 Mil.
Total Current Liabilities was RM13.57 Mil.
Long-Term Debt & Capital Lease Obligation was RM7.28 Mil.
Net Income was -0.623 + -1.699 + -0.727 + -3.463 = RM-6.51 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -1.437 + 0.213 + -1.009 + 3.116 = RM0.88 Mil.
Total Receivables was RM6.88 Mil.
Revenue was 10.107 + 3.045 + 15.826 + 11.275 = RM40.25 Mil.
Gross Profit was 1.669 + 0.08 + 2.774 + 1.801 = RM6.32 Mil.
Total Current Assets was RM20.55 Mil.
Total Assets was RM254.61 Mil.
Property, Plant and Equipment(Net PPE) was RM227.37 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.45 Mil.
Selling, General, & Admin. Expense(SGA) was RM16.46 Mil.
Total Current Liabilities was RM16.80 Mil.
Long-Term Debt & Capital Lease Obligation was RM4.95 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)
=(6.043 / 34.817) / (6.88 / 40.253)
=0.173565 / 0.170919
=1.0155

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)
=(6.324 / 40.253) / (7.682 / 34.817)
=0.157106 / 0.220639
=0.7121

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 - (18.346 + 220.85) / 245.458) / (1 - (20.55 + 227.372) / 254.608)
=0.025511 / 0.02626
=0.9715

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
=34.817 / 40.253
=0.865

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))
=(3.454 / (3.454 + 227.372)) / (6.105 / (6.105 + 220.85))
=0.014964 / 0.0269
=0.5563

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)
=(16.032 / 34.817) / (16.462 / 40.253)
=0.460465 / 0.408963
=1.1259

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)
=((7.281 + 13.571) / 245.458) / ((4.945 + 16.797) / 254.608)
=0.084951 / 0.085394
=0.9948

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
=(-6.512 - 0 - 0.883) / 245.458
=-0.030127

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.

Greenyield Bhd has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.


Greenyield Bhd Beneish M-Score Related Terms

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Greenyield Bhd Business Description

Traded in Other Exchanges
N/A
Address
No. 1-19, MKH Boulevard, Jalan Bukit, Kajang, SGR, MYS, 43000
Greenyield Bhd is engaged in the development, manufacturing, and marketing of agricultural products and services. The company operates in three segments plantation inputs comprising plantation-related products such as chemicals and fertilizers, tools and equipment, technical support services, consultancy services, and rubber; rubber estate comprising the production and sale of rubber cup lumps; and household goods comprising plant pots. The majority of its revenue comes from rubber estate. Geographic locations are Malaysia, Europe, Japan, the United States of America, South East Asia other than Malaysia, Australia, and the countries. The majority of its revenue comes from Malaysia.

Greenyield Bhd Headlines

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