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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 -3.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Jagasolution Bhd's Beneish M-Score or its related term are showing as below:
XKLS:03002'
s Beneish M-Score Range Over the Past 10 Years
Min: -7.25 Med: -3.39 Max: 8.09
Current: -3.06
During the past 9 years, the highest Beneish M-Score of Jagasolution Bhd was 8.09. The lowest was -7.25. And the median was -3.39.
The historical data trend for Jagasolution 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.
XKLS:03002 vs CRM, NOW, INTU: Beneish M-Score Comparison
For the Software - Application subindustry, Jagasolution 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.
Jagasolution Bhd Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Jagasolution Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jagasolution Bhd's Beneish M-Score falls into.
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 Jagasolution 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 * 1.1043
+
0.528 * 1.1712
+
0.404 * 0.7706
+
0.892 * 1.1599
+
0.115 * 2.1465
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9033
+
4.679 * -0.165353
-
0.327 * 0.9519
=
-2.85
* 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.
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.
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))
=
(0.312 / (0.312 + 0.083))
/
(0.465 / (0.465 + 0.8))
=
0.789032
/
0.367589
=
2.1465
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
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
=
(0.375 - 0
-
1.13)
/
4.566
=
-0.165353
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.
Jagasolution Bhd has a M-score of -2.85 suggests that the company is unlikely to be a manipulator.
Jagasolution Bhd (XKLS:03002) has a Beneish M-Score of -3.06 as of Sep. 22, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jagasolution Bhd and its competitors.
Is Jagasolution Bhd's Beneish M-Score too high?
Jagasolution Bhd's current Beneish M-Score is -3.06.
How does Jagasolution Bhd's Beneish M-Score compare to CRM and NOW?
Jagasolution Bhd's Beneish M-Score of -3.06 can be compared against companies in the Software 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 Jagasolution Bhd and its competitors. Jagasolution Bhd's current Beneish M-Score is -3.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jagasolution Bhd stock overvalued right now?
Jagasolution Bhd (XKLS:03002) has a current Beneish M-Score of -3.06. The current Beneish M-Score is -3.06. 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 Jagasolution Bhd (XKLS:03002), the current Beneish M-Score is -3.06 as of Sep. 22, 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.
Jagasolution Bhd, formerly Red Ideas Holdings Bhd, is a Malaysian technology company that develops and sells software products and solutions for residential and commercial communities. Its flagship offering, the JaGaApp platform, is a mobile application that connects residents, property managers, and security personnel, providing features such as emergency assistance, intercom calling, real-time notice boards, visitor registration, and facility booking. The company serves property developers, joint management bodies, management corporations, and security service providers, primarily in Malaysia. Revenue is generated through software subscriptions and licensing, implementation and customization services, and related support and maintenance fees tied to its community management platform. The company also explores partnerships with property and security firms to expand adoption of its digital community solutions across residential and commercial developments.
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