SL Innovation Capital Bhd (XKLS:03008) Beneish M-Score: -3.26 (As of Jun. 26, 2026)

What is SL Innovation Capital Bhd Beneish M-Score?

SL Innovation Capital Bhd XKLS:03008 54 Beneish M-Score is -3.26 as of Jun. 26, 2026. GuruFocus rates XKLS:03008 with a GF Score™ of 54/100 and a GF Value™ of RM0.50. The stock has 7 warning signs investors should review.

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 -3.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:03008' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.49 Max: 1.14
Current: -3.26

During the past 11 years, the highest Beneish M-Score of SL Innovation Capital Bhd was 1.14. The lowest was -3.26. And the median was -2.49.

SL Innovation Capital Bhd Beneish M-Score Related Terms

SL Innovation Capital Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SL Innovation Capital 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.

SL Innovation Capital Bhd Beneish M-Score Chart

SL Innovation Capital Bhd Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.41

-2.58

-2.93

-0.82

-3.26

SL Innovation Capital Bhd Semi-Annual Data
	Dec15	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.93	0.00	-0.82	0.00	-3.26

XKLS:03008 vs ACN, IBM, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, SL Innovation Capital 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.

SL Innovation Capital Bhd Beneish M-Score vs Software Industry

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

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

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54GF Score

SL Innovation Capital Bhd XKLS:03008

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

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SL Innovation Capital 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 SL Innovation Capital 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 * 0.7052

0.528 * 0.8215

0.404 * 1.4169

0.892 * 0.8206

0.115 * 0.845

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.4437

4.679 * -0.084112

0.327 * 0.7973

-3.26

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was RM12.91 Mil.
Revenue was RM51.59 Mil.
Gross Profit was RM22.22 Mil.
Total Current Assets was RM22.59 Mil.
Total Assets was RM30.06 Mil.
Property, Plant and Equipment(Net PPE) was RM6.83 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.60 Mil.
Selling, General, & Admin. Expense(SGA) was RM18.74 Mil.
Total Current Liabilities was RM12.19 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.10 Mil.
Net Income was RM2.64 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM5.17 Mil.

Total Receivables was RM22.31 Mil.
Revenue was RM62.87 Mil.
Gross Profit was RM22.25 Mil.
Total Current Assets was RM34.40 Mil.
Total Assets was RM43.19 Mil.
Property, Plant and Equipment(Net PPE) was RM8.14 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.60 Mil.
Selling, General, & Admin. Expense(SGA) was RM15.82 Mil.
Total Current Liabilities was RM22.36 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.59 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)
	=	(12.91 / 51.59)	/	(22.309 / 62.868)
	=	0.250242	/	0.354855
	=	0.7052

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)
	=	(22.245 / 62.868)	/	(22.221 / 51.59)
	=	0.353837	/	0.430723
	=	0.8215

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 - (22.59 + 6.827) / 30.055)	/	(1 - (34.402 + 8.136) / 43.185)
	=	0.021228	/	0.014982
	=	1.4169

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
	=	51.59	/	62.868
	=	0.8206

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))
	=	(0.599 / (0.599 + 8.136))	/	(0.603 / (0.603 + 6.827))
	=	0.068575	/	0.081157
	=	0.845

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)
	=	(18.742 / 51.59)	/	(15.82 / 62.868)
	=	0.363287	/	0.251638
	=	1.4437

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)
	=	((1.097 + 12.192) / 30.055)	/	((1.593 + 22.355) / 43.185)
	=	0.442156	/	0.554544
	=	0.7973

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
	=	(2.644 - 0	-	5.172)	/	30.055
	=	-0.084112

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.

SL Innovation Capital Bhd has a M-score of -3.26 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 -3.26 mean?

SL Innovation Capital Bhd (XKLS:03008) has a Beneish M-Score of -3.26 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SL Innovation Capital Bhd and its competitors.

Is SL Innovation Capital Bhd's Beneish M-Score too high?

SL Innovation Capital Bhd's current Beneish M-Score is -3.26. Overall, SL Innovation Capital Bhd has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.

How does SL Innovation Capital Bhd's Beneish M-Score compare to ACN and IBM?

SL Innovation Capital Bhd's Beneish M-Score of -3.26 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 SL Innovation Capital Bhd and its competitors. SL Innovation Capital Bhd's current Beneish M-Score is -3.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is SL Innovation Capital Bhd stock overvalued right now?

SL Innovation Capital Bhd (XKLS:03008) has a current Beneish M-Score of -3.26. The stock's GF Value™ is RM0.50, compared to a current price of RM0.69 — trading 37% above its estimated fair value. The current Beneish M-Score is -3.26. SL Innovation Capital Bhd's overall GF Score™ is 54/100 with 7 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 SL Innovation Capital Bhd (XKLS:03008), the current Beneish M-Score is -3.26 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 SL Innovation Capital Bhd (XKLS:03008) Overvalued in 2026?

Based on GuruFocus' analysis, SL Innovation Capital Bhd stock appears to be overvalued. The current stock price of RM0.69 is trading 37% above its estimated GF Value™ of RM0.50.

Key valuation signals for XKLS:03008:

Beneish M-Score: -3.26
GF Value™: RM0.50 vs. price of RM0.69 (37% above fair value)
GF Score™: 54/100 with 7 warning signs

No single metric tells the full story. See the XKLS:03008 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

SL Innovation Capital Bhd Business Description

Industry Technology Software

Comparable Companies XKLS:0123 XKLS:0145 XKLS:0169 XKLS:0079 XKLS:5036 XKLS:0131 XKLS:0094 XKLS:0020 XKLS:0043 XKLS:0132 ACN NSE:TCS IBM NSE:INFY FISV FIS CTSH NSE:HCLTECH XPAR:CAP BOM:507685

Address Jalan PJU 1/41, 23-6, Block D1, Dataran Prima, Petaling Jaya, SGR, MYS, 47301

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

SL Innovation Capital Bhd provides management services. Along with its subsidiaries, it operates in the following reportable segments based on its products and services; IT infrastructure technology solutions, Business process automation solutions, and Others. Maximum revenue is generated from its IT infrastructure technology solutions segment, which provides hardware, system software, network resources, and related accessories required in the operation and management of an enterprise's IT environment. The business process automation solutions segment offers business process management software, and the Others segment provides management and operation services. Geographically, the company derives its key revenue from Malaysia followed by Indonesia, Korea, Myanmar, and Singapore.

54GF Score

Get the complete analysis for XKLS:03008

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

RM0.69

Price

RM0.50

GF Value

View XKLS:03008 Analysis

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