Oppstar Bhd (XKLS:0275) Beneish M-Score: -4.12 (As of Jun. 26, 2026)

What is Oppstar Bhd Beneish M-Score?

Oppstar Bhd XKLS:0275 -5.47% 50 Beneish M-Score is -4.12 as of Jun. 26, 2026. GuruFocus rates XKLS:0275 with a GF Score™ of 50/100 and a GF Value™ of RM0.60 (Fairly Valued). The stock has 3 warning signs investors should review. Among 987 Semiconductors companies, Oppstar Bhd ranks better than 95.44% 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 -4.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0275' s Beneish M-Score Range Over the Past 10 Years
Min: -4.12 Med: 0.56 Max: 33.11
Current: -4.12

During the past 7 years, the highest Beneish M-Score of Oppstar Bhd was 33.11. The lowest was -4.12. And the median was 0.56.

Oppstar Bhd Beneish M-Score Related Terms

Oppstar Bhd Beneish M-Score Historical Data

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The historical data trend for Oppstar 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.

Oppstar Bhd Beneish M-Score Chart

Oppstar Bhd Annual Data

Trend

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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0.00

0.56

33.11

-4.12

Oppstar Bhd Quarterly Data
	Mar20	Mar21	Mar22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial													33.11	-6.02	-4.58	-4.41	-4.12

XKLS:0275 vs NVDA, AVGO, MU: Beneish M-Score Comparison

For the Semiconductors subindustry, Oppstar 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.

Oppstar Bhd Beneish M-Score vs Semiconductors Industry

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

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

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Oppstar Bhd XKLS:0275

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Oppstar 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 Oppstar Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1432

0.528 * -0.0549

0.404 * 0.9991

0.892 * 0.5398

0.115 * 0.8533

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.9163

4.679 * -0.104952

0.327 * 1.4281

-4.12

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was RM12.93 Mil.
Revenue was 10.506 + 8.695 + 7.378 + 7.957 = RM34.54 Mil.
Gross Profit was -0.004 + -0.211 + -2.328 + -1.781 = RM-4.32 Mil.
Total Current Assets was RM118.84 Mil.
Total Assets was RM126.24 Mil.
Property, Plant and Equipment(Net PPE) was RM5.21 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.66 Mil.
Selling, General, & Admin. Expense(SGA) was RM11.99 Mil.
Total Current Liabilities was RM4.55 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.82 Mil.
Net Income was -6.648 + -2.161 + -3.175 + -4.049 = RM-16.03 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -3.882 + 3.736 + -2.175 + -0.463 = RM-2.78 Mil.

Total Receivables was RM20.95 Mil.
Revenue was 6.296 + 22.502 + 21.715 + 13.462 = RM63.98 Mil.
Gross Profit was -2.537 + -1.468 + 0.429 + 4.016 = RM0.44 Mil.
Total Current Assets was RM132.71 Mil.
Total Assets was RM140.45 Mil.
Property, Plant and Equipment(Net PPE) was RM5.30 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.15 Mil.
Selling, General, & Admin. Expense(SGA) was RM11.59 Mil.
Total Current Liabilities was RM3.43 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.75 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)
	=	(12.932 / 34.536)	/	(20.954 / 63.975)
	=	0.37445	/	0.327534
	=	1.1432

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)
	=	(0.44 / 63.975)	/	(-4.324 / 34.536)
	=	0.006878	/	-0.125203
	=	-0.0549

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 - (118.84 + 5.207) / 126.239)	/	(1 - (132.71 + 5.298) / 140.449)
	=	0.017364	/	0.01738
	=	0.9991

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
	=	34.536	/	63.975
	=	0.5398

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))
	=	(2.15 / (2.15 + 5.298))	/	(2.662 / (2.662 + 5.207))
	=	0.288668	/	0.338289
	=	0.8533

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)
	=	(11.993 / 34.536)	/	(11.593 / 63.975)
	=	0.347261	/	0.181211
	=	1.9163

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)
	=	((0.823 + 4.549) / 126.239)	/	((0.753 + 3.432) / 140.449)
	=	0.042554	/	0.029797
	=	1.4281

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
	=	(-16.033 - 0	-	-2.784)	/	126.239
	=	-0.104952

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.

Oppstar Bhd has a M-score of -4.12 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 -4.12 mean?

Oppstar Bhd (XKLS:0275) has a Beneish M-Score of -4.12 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oppstar Bhd and its competitors. According to the industry distribution chart, Oppstar Bhd ranks #45 out of 987 companies in the Semiconductors industry, placing it in the top 4.6%.

Is Oppstar Bhd's Beneish M-Score too high?

Oppstar Bhd's current Beneish M-Score is -4.12. Based on the distribution chart, Oppstar Bhd ranks #45 out of 987 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Oppstar Bhd has a GF Score™ of 50/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Oppstar Bhd's Beneish M-Score compare to NVDA and AVGO?

According to the Semiconductors industry distribution chart, Oppstar Bhd ranks #45 out of 987 companies for Beneish M-Score. This places Oppstar Bhd in the top 5% 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 Semiconductors company?

A good Beneish M-Score depends on the Semiconductors 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 Oppstar Bhd and its competitors. Oppstar Bhd's current Beneish M-Score is -4.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Oppstar Bhd stock overvalued right now?

Based on GuruFocus' analysis, Oppstar Bhd (XKLS:0275) is currently considered Fairly Valued. The stock's GF Value™ is RM0.60, compared to a current price of RM0.61 — trading 0.8% above its estimated fair value. The current Beneish M-Score is -4.12. Oppstar Bhd's overall GF Score™ is 50/100 with 3 warning signs to review. 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 Oppstar Bhd (XKLS:0275), the current Beneish M-Score is -4.12 as of Jun. 26, 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.

Is Oppstar Bhd (XKLS:0275) Overvalued in 2026?

Based on GuruFocus' analysis, Oppstar Bhd stock appears to be overvalued. The current stock price of RM0.61 is trading 0.8% above its estimated GF Value™ of RM0.60. GuruFocus considers Oppstar Bhd to be Fairly Valued.

Key valuation signals for XKLS:0275:

Beneish M-Score: -4.12
GF Value™: RM0.60 vs. price of RM0.61 (0.8% above fair value)
GF Score™: 50/100 with 3 warning signs

No single metric tells the full story. See the XKLS:0275 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Oppstar Bhd Business Description

Industry Technology Semiconductors

Comparable Companies XKLS:0278 XKLS:9334 XKLS:7022 XKLS:0143 NVDA AVGO TPE:2330 XKRX:000660 MU AMD INTC TXN QCOM TSE:285A TPE:2454 ADI MRVL XTER:IFX SHSE:688256 XKRX:402340

Address Sains USM 10, Persiaran Bukit Jambul, Level 6, I2U Building, Bayan Lepas, PNG, MYS, 11900

Website https://www.oppstar.com.my

Oppstar Bhd is an investment holding company. Through its subsidiaries, it is principally involved in the provision of IC design services covering front-end design, back-end design, and complete turnkey solutions. The company also provides other related services such as post-silicon validation services, software and engineering solutions, research and development in engineering and technology, provision of sales and marketing services, technical support, and other related services. The group's business segments include: Turnkey Design Services, Specific Design Services, Post-Silicon Validation, and Sales of semiconductor wafers and components. Geographically, the company generates a majority of its revenue from Northeast Asia and the rest from Southeast Asia.

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM0.61

Price

RM0.60

GF Value

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