Amlex Holdings Bhd (XKLS:03011) Beneish M-Score: 0.00 (As of Jul. 12, 2026)


XKLS:03011 Amlex Holdings Bhd XKLS:03011
50 GF Score
Price RM0.15
GF Value RM0.34
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Amlex Holdings Bhd Beneish M-Score?

Amlex Holdings Bhd XKLS:03011 50 Beneish M-Score is 0.00 as of Jul. 12, 2026. GuruFocus rates XKLS:03011 with a GF Score™ of 50/100 and a GF Value™ of RM0.34 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,408 Hardware companies, Amlex Holdings Bhd ranks worse than 41528.2% 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.

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

During the past 10 years, the highest Beneish M-Score of Amlex Holdings Bhd was -1.34. The lowest was -3.48. And the median was -2.41.

Amlex Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Amlex Holdings 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.

Amlex Holdings Bhd Beneish M-Score Chart

Amlex Holdings Bhd Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Amlex Holdings Bhd Semi-Annual Data
Mar17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.00 0.00 0.00 0.00 0.00

XKLS:03011 vs APH, GLW, TEL: Beneish M-Score Comparison

For the Electronic Components subindustry, Amlex Holdings 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.

Amlex Holdings Bhd Beneish M-Score vs Hardware Industry

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

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


XKLS:03011
50GF Score
Amlex Holdings Bhd XKLS:03011
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Amlex Holdings 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 Amlex Holdings 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 RM13.63 Mil.
Revenue was RM61.30 Mil.
Gross Profit was RM9.65 Mil.
Total Current Assets was RM36.06 Mil.
Total Assets was RM74.42 Mil.
Property, Plant and Equipment(Net PPE) was RM38.36 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.84 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.98 Mil.
Total Current Liabilities was RM11.72 Mil.
Long-Term Debt & Capital Lease Obligation was RM8.82 Mil.
Net Income was RM2.31 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM4.90 Mil.
 Total Receivables was RM13.25 Mil.
Revenue was RM61.82 Mil.
Gross Profit was RM8.23 Mil.
Total Current Assets was RM32.65 Mil.
Total Assets was RM72.61 Mil.
Property, Plant and Equipment(Net PPE) was RM39.95 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.15 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.81 Mil.
Total Current Liabilities was RM11.97 Mil.
Long-Term Debt & Capital Lease Obligation was RM8.60 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)
=(13.632 / 61.302) / (13.253 / 61.82)
=0.222374 / 0.21438
=

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)
=(8.234 / 61.82) / (9.646 / 61.302)
=0.133193 / 0.157352
=

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 - (36.058 + 38.362) / 74.42) / (1 - (32.653 + 39.953) / 72.606)
=0 / 0
=

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
=61.302 / 61.82
=

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))
=(4.153 / (4.153 + 39.953)) / (3.835 / (3.835 + 38.362))
=0.09416 / 0.090883
=

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)
=(5.981 / 61.302) / (5.808 / 61.82)
=0.097566 / 0.09395
=

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)
=((8.815 + 11.715) / 74.42) / ((8.599 + 11.967) / 72.606)
=0.275867 / 0.283255
=

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
=(2.314 - 0 - 4.904) / 74.42
=-0.034802

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Amlex Holdings Bhd (XKLS:03011) has a Beneish M-Score of 0.00 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Amlex Holdings Bhd and its competitors. According to the industry distribution chart, Amlex Holdings Bhd ranks #999999 out of 2408 companies in the Hardware industry.
Is Amlex Holdings Bhd's Beneish M-Score too high?
Amlex Holdings Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Amlex Holdings Bhd ranks #999999 out of 2408 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Amlex Holdings Bhd has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Amlex Holdings Bhd's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Amlex Holdings Bhd ranks #999999 out of 2408 companies for Beneish M-Score. This places Amlex Holdings 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Amlex Holdings Bhd and its competitors. Amlex Holdings Bhd's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amlex Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Amlex Holdings Bhd (XKLS:03011) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.34, compared to a current price of RM0.15 — trading 55.9% below its estimated fair value. The current Beneish M-Score is 0.00. Amlex Holdings Bhd's overall GF Score™ is 50/100 with 5 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 Amlex Holdings Bhd (XKLS:03011), the current Beneish M-Score is 0.00 as of Jul. 12, 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 Amlex Holdings Bhd (XKLS:03011) Overvalued in 2026?

Based on GuruFocus' analysis, Amlex Holdings Bhd stock appears to be undervalued. The current stock price of RM0.15 is trading 55.9% below its estimated GF Value™ of RM0.34. GuruFocus considers Amlex Holdings Bhd to be Possible Value Trap.

Key valuation signals for XKLS:03011:

  • Beneish M-Score: 0.00
  • GF Value™: RM0.34 vs. price of RM0.15 (55.9% below fair value)
  • GF Score™: 50/100 with 5 warning signs

No single metric tells the full story. See the XKLS:03011 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Amlex Holdings Bhd Business Description

Address No. 799, Lorong Perindustrian Bukit Minyak 7, Taman Perindustrian Bukit Minyak, Simpang Ampat, PNG, MYS, 14100
Amlex Holdings Bhd is a Malaysia based provider of electronic packaging and interconnects solutions. The company is mainly engaged in the development and manufacturing of precision and complex mechanical and electro-mechanical components and assemblies. It caters to the semiconductor, consumer electronics, automotive, lighting, industrial electronics, and medical industries.
50GF Score

Get the complete analysis for XKLS:03011

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

RM0.15
Price
RM0.34
GF Value