Revenue Group Bhd (XKLS:0200) Beneish M-Score: -0.30 (As of Jun. 29, 2026)


What is Revenue Group Bhd Beneish M-Score?

Revenue Group Bhd XKLS:0200 -7.14% Beneish M-Score is -0.30 as of Jun. 29, 2026. The stock has 6 warning signs investors should review. Among 2,631 Software companies, Revenue Group Bhd ranks worse than 92.36% 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 -0.3 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0200' s Beneish M-Score Range Over the Past 10 Years
Min: -4   Med: -1.94   Max: 12.51
Current: -0.3

During the past 10 years, the highest Beneish M-Score of Revenue Group Bhd was 12.51. The lowest was -4.00. And the median was -1.94.

Revenue Group Bhd Beneish M-Score Historical Data

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The historical data trend for Revenue Group 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.

Revenue Group Bhd Beneish M-Score Chart

Revenue Group Bhd Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Sep24 Sep25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.72 -2.61 3.29 -3.55 -1.73

Revenue Group Bhd Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 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 -3.11 -4.00 -1.73 1.75 -0.30

XKLS:0200 vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Revenue Group 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.

Revenue Group Bhd Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Revenue Group Bhd's Beneish M-Score distribution charts can be found below:

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


Revenue Group 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 Revenue Group 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 * 2.7062+0.528 * 0.9698+0.404 * 0.4406+0.892 * 0.7006+0.115 * 0.5797
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1719+4.679 * 0.255772-0.327 * 1.002
=-0.30

* 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 RM71.6 Mil.
Revenue was 51.254 + 56.446 + 63.911 + 62.15 = RM233.8 Mil.
Gross Profit was 6.338 + 5.842 + 4.136 + 4.129 = RM20.4 Mil.
Total Current Assets was RM130.8 Mil.
Total Assets was RM152.2 Mil.
Property, Plant and Equipment(Net PPE) was RM4.4 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8.3 Mil.
Selling, General, & Admin. Expense(SGA) was RM32.9 Mil.
Total Current Liabilities was RM66.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.4 Mil.
Net Income was -1.86 + -2.549 + -12.834 + -4.053 = RM-21.3 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was -4.015 + -35.432 + -52.052 + 31.273 = RM-60.2 Mil.
 Total Receivables was RM37.8 Mil.
Revenue was 59.073 + 90.732 + 95.856 + 87.985 = RM333.6 Mil.
Gross Profit was 5.438 + 7.595 + 10.037 + 5.229 = RM28.3 Mil.
Total Current Assets was RM128.1 Mil.
Total Assets was RM189.8 Mil.
Property, Plant and Equipment(Net PPE) was RM13.5 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8.3 Mil.
Selling, General, & Admin. Expense(SGA) was RM40.1 Mil.
Total Current Liabilities was RM68.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM14.6 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)
=(71.594 / 233.761) / (37.76 / 333.646)
=0.30627 / 0.113174
=2.7062

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)
=(28.299 / 333.646) / (20.445 / 233.761)
=0.084817 / 0.087461
=0.9698

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 - (130.789 + 4.393) / 152.206) / (1 - (128.135 + 13.491) / 189.809)
=0.111848 / 0.25385
=0.4406

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
=233.761 / 333.646
=0.7006

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))
=(8.262 / (8.262 + 13.491)) / (8.348 / (8.348 + 4.393))
=0.37981 / 0.655208
=0.5797

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)
=(32.888 / 233.761) / (40.056 / 333.646)
=0.140691 / 0.120055
=1.1719

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)
=((0.409 + 66.093) / 152.206) / ((14.643 + 68.121) / 189.809)
=0.436921 / 0.436038
=1.002

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
=(-21.296 - 0 - -60.226) / 152.206
=0.255772

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.

Revenue Group Bhd has a M-score of -0.30 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 -0.30 mean?
Revenue Group Bhd (XKLS:0200) has a Beneish M-Score of -0.30 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Revenue Group Bhd and its competitors. According to the industry distribution chart, Revenue Group Bhd ranks #2430 out of 2631 companies in the Software industry, placing it in the top 92.4%.
Is Revenue Group Bhd's Beneish M-Score too high?
Revenue Group Bhd's current Beneish M-Score is -0.30. Based on the distribution chart, Revenue Group Bhd ranks #2430 out of 2631 companies in the Software industry, which is in the bottom quartile relative to peers.
How does Revenue Group Bhd's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Revenue Group Bhd ranks #2430 out of 2631 companies for Beneish M-Score. This places Revenue Group Bhd 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 a Software company?
A good Beneish M-Score depends on the Software 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 Revenue Group Bhd and its competitors. Revenue Group Bhd's current Beneish M-Score is -0.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Revenue Group Bhd stock overvalued right now?
Based on GuruFocus' analysis, Revenue Group Bhd (XKLS:0200) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.09, compared to a current price of RM0.07 — trading 27.8% below its estimated fair value. The current Beneish M-Score is -0.30. 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 Revenue Group Bhd (XKLS:0200), the current Beneish M-Score is -0.30 as of Jun. 29, 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.

Revenue Group Bhd Business Description

Address Jalan 51A/223, Lot 7, Section 52, Petaling Jaya, SGR, MYS, 46100
Revenue Group Bhd along with its subsidiaries is engaged in delivering a complete and customizable payment solution. The company provides various solutions such as EMV Smart Card Technology, Loyalty System, Web-based Payment System, Consumer Behavioural Management System, Terminal Management System and Payment Transaction Management System. It operates in three segments: EDC terminals, Electronic transaction processing, Solutions and services, Digital payment services and others. The Digital payment services segment that derives majority revenue engages in provision of digital payment solutions and services such as mobile top up, phone bill payment, utilities bill payment, game credits, entertainment and ticketing services.