Matrix Parking Solution Holdings Bhd (XKLS:03019) Beneish M-Score: -3.18 (As of Jul. 05, 2026)

What is Matrix Parking Solution Holdings Bhd Beneish M-Score?

Matrix Parking Solution Holdings Bhd XKLS:03019 53 Beneish M-Score is -3.18 as of Jul. 05, 2026. GuruFocus rates XKLS:03019 with a GF Score™ of 53/100 and a GF Value™ of RM0.26. The stock has 5 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 -3.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:03019' s Beneish M-Score Range Over the Past 10 Years
Min: -3.49 Med: -3 Max: -1.55
Current: -3.18

During the past 8 years, the highest Beneish M-Score of Matrix Parking Solution Holdings Bhd was -1.55. The lowest was -3.49. And the median was -3.00.

Matrix Parking Solution Holdings Bhd Beneish M-Score Related Terms

Matrix Parking Solution Holdings Bhd Beneish M-Score Historical Data

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The historical data trend for Matrix Parking Solution 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.

Matrix Parking Solution Holdings Bhd Beneish M-Score Chart

Matrix Parking Solution Holdings Bhd Annual Data

Trend

Dec16

Dec17

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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0.00

-1.55

-3.49

-3.09

-3.18

Matrix Parking Solution Holdings Bhd Semi-Annual Data
	Dec16	Dec17	Jun18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial												-3.09	0.00	-3.18	0.00	-2.91

Matrix Parking Solution Holdings Bhd Beneish M-Score Competitor Comparison

For the Infrastructure Operations subindustry, Matrix Parking Solution 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.

Matrix Parking Solution Holdings Bhd Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Matrix Parking Solution Holdings Bhd's Beneish M-Score distribution charts can be found below:

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

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53GF Score

Matrix Parking Solution Holdings Bhd XKLS:03019

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

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Matrix Parking Solution 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 Matrix Parking Solution Holdings 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 * 0.9119

0.528 * 0.9747

0.404 * 1.4342

0.892 * 1.387

0.115 * 0.7434

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.24887

0.327 * 0.8002

-3.18

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was RM3.97 Mil.
Revenue was RM22.16 Mil.
Gross Profit was RM10.25 Mil.
Total Current Assets was RM8.29 Mil.
Total Assets was RM21.47 Mil.
Property, Plant and Equipment(Net PPE) was RM11.35 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.74 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM9.68 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.34 Mil.
Net Income was RM2.01 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM7.35 Mil.

Total Receivables was RM3.14 Mil.
Revenue was RM15.98 Mil.
Gross Profit was RM7.20 Mil.
Total Current Assets was RM6.47 Mil.
Total Assets was RM23.51 Mil.
Property, Plant and Equipment(Net PPE) was RM15.64 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.38 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM9.44 Mil.
Long-Term Debt & Capital Lease Obligation was RM5.64 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)
	=	(3.965 / 22.164)	/	(3.135 / 15.98)
	=	0.178894	/	0.196183
	=	0.9119

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)
	=	(7.204 / 15.98)	/	(10.251 / 22.164)
	=	0.450814	/	0.462507
	=	0.9747

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 - (8.292 + 11.346) / 21.469)	/	(1 - (6.47 + 15.641) / 23.509)
	=	0.085286	/	0.059467
	=	1.4342

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
	=	22.164	/	15.98
	=	1.387

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))
	=	(4.383 / (4.383 + 15.641))	/	(4.735 / (4.735 + 11.346))
	=	0.218887	/	0.294447
	=	0.7434

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)
	=	(0 / 22.164)	/	(0 / 15.98)
	=	0	/	0
	=	1

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)
	=	((1.339 + 9.68) / 21.469)	/	((5.637 + 9.442) / 23.509)
	=	0.513252	/	0.641414
	=	0.8002

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
	=	(2.01 - 0	-	7.353)	/	21.469
	=	-0.24887

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.

Matrix Parking Solution Holdings Bhd has a M-score of -3.18 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 -3.18 mean?

Matrix Parking Solution Holdings Bhd (XKLS:03019) has a Beneish M-Score of -3.18 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Matrix Parking Solution Holdings Bhd and its competitors.

Is Matrix Parking Solution Holdings Bhd's Beneish M-Score too high?

Matrix Parking Solution Holdings Bhd's current Beneish M-Score is -3.18. Overall, Matrix Parking Solution Holdings Bhd has a GF Score™ of 53/100, reflecting its overall financial health beyond just this single metric.

How does Matrix Parking Solution Holdings Bhd's Beneish M-Score compare to competitors?

Matrix Parking Solution Holdings Bhd's Beneish M-Score of -3.18 can be compared against companies in the Construction 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Matrix Parking Solution Holdings Bhd and its competitors. Matrix Parking Solution Holdings Bhd's current Beneish M-Score is -3.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Matrix Parking Solution Holdings Bhd stock overvalued right now?

Matrix Parking Solution Holdings Bhd (XKLS:03019) has a current Beneish M-Score of -3.18. The stock's GF Value™ is RM0.26, compared to a current price of RM0.13 — trading 50% below its estimated fair value. The current Beneish M-Score is -3.18. Matrix Parking Solution Holdings Bhd's overall GF Score™ is 53/100 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 Matrix Parking Solution Holdings Bhd (XKLS:03019), the current Beneish M-Score is -3.18 as of Jul. 05, 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 Matrix Parking Solution Holdings Bhd (XKLS:03019) Overvalued in 2026?

Based on GuruFocus' analysis, Matrix Parking Solution Holdings Bhd stock appears to be undervalued. The current stock price of RM0.13 is trading 50% below its estimated GF Value™ of RM0.26.

Key valuation signals for XKLS:03019:

Beneish M-Score: -3.18
GF Value™: RM0.26 vs. price of RM0.13 (50% below fair value)
GF Score™: 53/100 with 5 warning signs

No single metric tells the full story. See the XKLS:03019 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Matrix Parking Solution Holdings Bhd Business Description

Industry Industrials Construction

Comparable Companies XKLS:5070 ASX:TCL DFM:SALIK SZSE:001965 SHSE:600377 MEX:IDEALB-1 SHSE:600350 BSP:MOTV3 MEX:PINFRA HKSE:00576 DFM:PARKIN ASX:ALX ASX:VNT SZSE:000429 SHSE:600012 SHSE:600548 HKSE:00152 BOM:532947 TSE:4666 SHSE:601107

Address No.1, Jalan PJU 1A/4, No. Y-BG-02, Daman Kayangan, Ara Jaya, Petaling Jaya, SGR, MYS, 47301

Website https://www.matrixparking.my

Matrix Parking Solution Holdings Bhd is an investment holding company. Along with its subsidiaries, it operates in the following reportable segments; Car park operator and jockey services, Management consultancy, and Investment holding. Maximum revenue is derived from its Car park operator and jockey services segment which is involved in the supply, installation, and maintenance of parking access and revenue control systems, and providing other ancillary services related to parking. It has developed digital solutions like Ola Play mobile apps, and an all-in-one digital platform to provide services related to parking. The other services provided by the firm are EV charging stations, storage, car wash, jockey service, and advertising and promotion. Geographically, it operates in Malaysia.

53GF Score

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

RM0.13

Price

RM0.26

GF Value

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