Smile-Link Healthcare Global Bhd (XKLS:03023) Beneish M-Score: -1.24 (As of Jul. 03, 2026)


What is Smile-Link Healthcare Global Bhd Beneish M-Score?

Smile-Link Healthcare Global Bhd XKLS:03023 Beneish M-Score is -1.24 as of Jul. 03, 2026. The stock has 6 warning signs investors should review. Among 631 Healthcare Providers & Services companies, Smile-Link Healthcare Global Bhd ranks worse than 90.33% 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.

Warning Sign:

Beneish M-Score -1.24 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:03023' s Beneish M-Score Range Over the Past 10 Years
Min: -3.79   Med: -2.2   Max: -1.24
Current: -1.24

During the past 9 years, the highest Beneish M-Score of Smile-Link Healthcare Global Bhd was -1.24. The lowest was -3.79. And the median was -2.20.

Smile-Link Healthcare Global Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Smile-Link Healthcare Global 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.

Smile-Link Healthcare Global Bhd Beneish M-Score Chart

Smile-Link Healthcare Global Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -2.71 -3.79 -2.20 -1.59 -1.24

Smile-Link Healthcare Global Bhd Semi-Annual Data
Dec16 Dec17 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -1.59 0.00 0.00 -1.24 0.00

XKLS:03023 vs HCA, THC, DVA: Beneish M-Score Comparison

For the Medical Care Facilities subindustry, Smile-Link Healthcare Global 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.

Smile-Link Healthcare Global Bhd Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Smile-Link Healthcare Global Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Smile-Link Healthcare Global Bhd's Beneish M-Score falls into.


Smile-Link Healthcare Global 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 Smile-Link Healthcare Global 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 * 1.186+0.528 * 1.0967+0.404 * 1.1138+0.892 * 0.7745+0.115 * 11.8245
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0997+4.679 * -0.007549-0.327 * 1.0605
=-1.24

* 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 (Jun25) TTM:Last Year (Dec23) TTM:
Total Receivables was RM10.74 Mil.
Revenue was RM27.38 Mil.
Gross Profit was RM12.73 Mil.
Total Current Assets was RM16.53 Mil.
Total Assets was RM43.19 Mil.
Property, Plant and Equipment(Net PPE) was RM16.87 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.22 Mil.
Selling, General, & Admin. Expense(SGA) was RM14.33 Mil.
Total Current Liabilities was RM10.54 Mil.
Long-Term Debt & Capital Lease Obligation was RM3.27 Mil.
Net Income was RM-0.12 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM0.21 Mil.
 Total Receivables was RM11.69 Mil.
Revenue was RM35.35 Mil.
Gross Profit was RM18.03 Mil.
Total Current Assets was RM19.30 Mil.
Total Assets was RM48.08 Mil.
Property, Plant and Equipment(Net PPE) was RM18.99 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.38 Mil.
Selling, General, & Admin. Expense(SGA) was RM16.82 Mil.
Total Current Liabilities was RM12.98 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.52 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)
=(10.735 / 27.377) / (11.686 / 35.347)
=0.392117 / 0.330608
=1.186

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)
=(18.025 / 35.347) / (12.73 / 27.377)
=0.509944 / 0.464989
=1.0967

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 - (16.53 + 16.865) / 43.187) / (1 - (19.3 + 18.992) / 48.08)
=0.226735 / 0.203577
=1.1138

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
=27.377 / 35.347
=0.7745

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))
=(3.375 / (3.375 + 18.992)) / (0.218 / (0.218 + 16.865))
=0.150892 / 0.012761
=11.8245

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)
=(14.33 / 27.377) / (16.824 / 35.347)
=0.523432 / 0.475967
=1.0997

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)
=((3.268 + 10.537) / 43.187) / ((1.516 + 12.976) / 48.08)
=0.319656 / 0.301414
=1.0605

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
=(-0.118 - 0 - 0.208) / 43.187
=-0.007549

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.

Smile-Link Healthcare Global Bhd has a M-score of -1.24 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 -1.24 mean?
Smile-Link Healthcare Global Bhd (XKLS:03023) has a Beneish M-Score of -1.24 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Smile-Link Healthcare Global Bhd and its competitors. According to the industry distribution chart, Smile-Link Healthcare Global Bhd ranks #570 out of 631 companies in the Healthcare Providers & Services industry, placing it in the top 90.3%.
Is Smile-Link Healthcare Global Bhd's Beneish M-Score too high?
Smile-Link Healthcare Global Bhd's current Beneish M-Score is -1.24. Based on the distribution chart, Smile-Link Healthcare Global Bhd ranks #570 out of 631 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers.
How does Smile-Link Healthcare Global Bhd's Beneish M-Score compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Smile-Link Healthcare Global Bhd ranks #570 out of 631 companies for Beneish M-Score. This places Smile-Link Healthcare Global 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 Smile-Link Healthcare Global Bhd and its competitors. Smile-Link Healthcare Global Bhd's current Beneish M-Score is -1.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smile-Link Healthcare Global Bhd stock overvalued right now?
Based on GuruFocus' analysis, Smile-Link Healthcare Global Bhd (XKLS:03023) is currently considered Fairly Valued. The stock's GF Value™ is RM0.10, compared to a current price of RM0.10 — trading right at its estimated fair value. The current Beneish M-Score is -1.24. 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 Smile-Link Healthcare Global Bhd (XKLS:03023), the current Beneish M-Score is -1.24 as of Jul. 03, 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.

Smile-Link Healthcare Global Bhd Business Description

Address Jalan Merah Caga, Lot PT 7221, Taman Sri Endah, Bandar Baru Sri Petaling, Kuala Lumpur, MYS, 57000
Smile-Link Healthcare Global Bhd through its subsidiaries, is engaged in providing dental healthcare services in Malaysia. Its reportable operating segments are; Provision of dental services which derives maximum revenue, Trading and distribution of dental and pharmaceutical products, Others, comprising dental labs and manufacturing of dental instruments, and Investment holding.