IDB Technologies Bhd (XKLS:03030) Beneish M-Score : -2.71 (As of Dec. 11, 2024)

View and export this data going back to 2019. Start your Free Trial

What is IDB Technologies Bhd Beneish M-Score?

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 -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:03030' s Beneish M-Score Range Over the Past 10 Years
Min: -3.24 Med: -2.23 Max: -0.63
Current: -2.71

During the past 9 years, the highest Beneish M-Score of IDB Technologies Bhd was -0.63. The lowest was -3.24. And the median was -2.23.

IDB Technologies Bhd Beneish M-Score Historical Data

The historical data trend for IDB Technologies 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.

* Premium members only.

IDB Technologies Bhd Beneish M-Score Chart

IDB Technologies Bhd Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

Get a 7-Day Free Trial

-1.74

-3.24

-3.11

-2.71

IDB Technologies Bhd Semi-Annual Data
	Jun17	Jun18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial								-3.24	-	-3.11	-	-2.71

Competitive Comparison of IDB Technologies Bhd's Beneish M-Score

For the Software - Application subindustry, IDB Technologies 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.

IDB Technologies Bhd's Beneish M-Score Distribution in the Software Industry

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

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

IDB Technologies 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 IDB Technologies 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 * 0.8871

0.528 * 0.9632

0.404 * 0

0.892 * 1.2086

0.115 * 0.8872

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0916

4.679 * 0.0196

0.327 * 0.865

-2.71

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was RM1.44 Mil.
Revenue was RM7.98 Mil.
Gross Profit was RM4.67 Mil.
Total Current Assets was RM6.94 Mil.
Total Assets was RM7.45 Mil.
Property, Plant and Equipment(Net PPE) was RM0.51 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.22 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.29 Mil.
Total Current Liabilities was RM1.51 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.29 Mil.
Net Income was RM1.76 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM1.61 Mil.

Total Receivables was RM1.35 Mil.
Revenue was RM6.61 Mil.
Gross Profit was RM3.72 Mil.
Total Current Assets was RM6.13 Mil.
Total Assets was RM6.79 Mil.
Property, Plant and Equipment(Net PPE) was RM0.64 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.23 Mil.
Selling, General, & Admin. Expense(SGA) was RM1.74 Mil.
Total Current Liabilities was RM1.52 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.38 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)
	=	(1.442 / 7.984)	/	(1.345 / 6.606)
	=	0.180611	/	0.203603
	=	0.8871

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)
	=	(3.724 / 6.606)	/	(4.673 / 7.984)
	=	0.56373	/	0.585296
	=	0.9632

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 - (6.944 + 0.505) / 7.449)	/	(1 - (6.128 + 0.638) / 6.79)
	=	0	/	0.003535
	=	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
	=	7.984	/	6.606
	=	1.2086

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))
	=	(0.233 / (0.233 + 0.638))	/	(0.218 / (0.218 + 0.505))
	=	0.267509	/	0.301521
	=	0.8872

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)
	=	(2.289 / 7.984)	/	(1.735 / 6.606)
	=	0.286698	/	0.26264
	=	1.0916

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)
	=	((0.292 + 1.511) / 7.449)	/	((0.378 + 1.522) / 6.79)
	=	0.242046	/	0.279823
	=	0.865

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
	=	(1.757 - 0	-	1.611)	/	7.449
	=	0.0196

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.

IDB Technologies Bhd has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.

IDB Technologies Bhd Beneish M-Score Related Terms

Thank you for viewing the detailed overview of IDB Technologies Bhd's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

IDB Technologies Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » IDB Technologies Bhd (XKLS:03030) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jalan Teknokrat 2/1, Cyber 4, C5-3, Radius Business Park, Cyberjaya, Selangor Darul Ehsan, MYS, 63000

Website

https://www.idb.com.my

IDB Technologies Bhd is a PMS solution provider. Its PMS solutions comprise of proprietary software, hardware as well as other services and solutions. The PMS solutions facilitate the management of hotel and accommodation operations and functions and, its customers are hotels and accommodations. It operates in one business segment being development and trading of software in Malaysia.

IDB Technologies Bhd Headlines

No Headlines