BWYS Group Bhd (XKLS:0313) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


XKLS:0313 BWYS Group Bhd XKLS:0313
38 GF Score
Price RM0.18
! 5 Warning Signs
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What is BWYS Group Bhd Beneish M-Score?

BWYS Group Bhd XKLS:0313 +6.06% 38 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates XKLS:0313 with a GF Score™ of 38/100. The stock has 5 warning signs investors should review. Among 592 Steel companies, BWYS Group Bhd ranks worse than 168918.75% 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 BWYS Group Bhd's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of BWYS Group Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

BWYS Group Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BWYS Group 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.

BWYS Group Bhd Beneish M-Score Chart

BWYS Group Bhd Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

BWYS Group Bhd Quarterly Data
Dec20 Dec21 Dec22 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 0.00 0.00 0.00 0.00 0.00

XKLS:0313 vs NUE, STLD, RS: Beneish M-Score Comparison

For the Steel subindustry, BWYS Group 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.

BWYS Group Bhd Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, BWYS Group Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:0313
38GF Score
BWYS Group Bhd XKLS:0313
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BWYS Group 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 BWYS Group 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 RM66.0 Mil.
Revenue was 63.112 + 74.932 + 74.844 + 69.502 = RM282.4 Mil.
Gross Profit was 10.035 + 9.063 + 13.899 + 13.796 = RM46.8 Mil.
Total Current Assets was RM256.2 Mil.
Total Assets was RM426.2 Mil.
Property, Plant and Equipment(Net PPE) was RM170.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM16.6 Mil.
Selling, General, & Admin. Expense(SGA) was RM42.2 Mil.
Total Current Liabilities was RM102.4 Mil.
Long-Term Debt & Capital Lease Obligation was RM62.3 Mil.
Net Income was 24.646 + 4.133 + 4.325 + 3.964 = RM37.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 0.369 + 10.232 + -0.271 + -5.277 = RM5.1 Mil.
 Total Receivables was RM66.7 Mil.
Revenue was 57.329 + 54.898 + 57.576 + 58.473 = RM228.3 Mil.
Gross Profit was 12.439 + 10.517 + 13.9 + 11.293 = RM48.1 Mil.
Total Current Assets was RM224.7 Mil.
Total Assets was RM399.2 Mil.
Property, Plant and Equipment(Net PPE) was RM174.5 Mil.
Depreciation, Depletion and Amortization(DDA) was RM12.7 Mil.
Selling, General, & Admin. Expense(SGA) was RM36.8 Mil.
Total Current Liabilities was RM114.0 Mil.
Long-Term Debt & Capital Lease Obligation was RM60.7 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)
=(65.951 / 282.39) / (66.683 / 228.276)
=0.233546 / 0.292116
=

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)
=(48.149 / 228.276) / (46.793 / 282.39)
=0.210924 / 0.165703
=

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 - (256.215 + 169.988) / 426.203) / (1 - (224.681 + 174.498) / 399.179)
=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
=282.39 / 228.276
=

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))
=(12.701 / (12.701 + 174.498)) / (16.572 / (16.572 + 169.988))
=0.067848 / 0.088829
=

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)
=(42.17 / 282.39) / (36.813 / 228.276)
=0.149332 / 0.161265
=

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)
=((62.326 + 102.368) / 426.203) / ((60.736 + 113.963) / 399.179)
=0.386421 / 0.437646
=

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
=(37.068 - 0 - 5.053) / 426.203
=0.075117

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?
BWYS Group Bhd (XKLS:0313) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BWYS Group Bhd and its competitors. According to the industry distribution chart, BWYS Group Bhd ranks #999999 out of 592 companies in the Steel industry.
Is BWYS Group Bhd's Beneish M-Score too high?
BWYS Group Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, BWYS Group Bhd ranks #999999 out of 592 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, BWYS Group Bhd has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does BWYS Group Bhd's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, BWYS Group Bhd ranks #999999 out of 592 companies for Beneish M-Score. This places BWYS Group 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 Steel company?
A good Beneish M-Score depends on the Steel 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 BWYS Group Bhd and its competitors. BWYS Group 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 BWYS Group Bhd stock overvalued right now?
BWYS Group Bhd (XKLS:0313) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. BWYS Group Bhd's overall GF Score™ is 38/100 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 BWYS Group Bhd (XKLS:0313), the current Beneish M-Score is 0.00 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.

BWYS Group Bhd Business Description

Address Jalan Serunai, Lot 1571, Kawasan Perindustrian Valdor, Mukim 12, Sungai Bakap, Seberang Perai, PNG, MYS, 14200
BWYS Group Bhd is an investment holding company. Through its subsidiaries, it is principally involved in the manufacturing of sheet metal products and the supply of scaffoldings, and also engages in the trading of steel materials and steel-related products. It mainly uses mild steel, including hot-rolled and cold-rolled coils for the manufacture of sheet metal products, comprising the following: roofing sheets and trusses, industrial racking systems, and welded pipes. Geographically, the Group is based in Malaysia.
38GF Score

Get the complete analysis for XKLS:0313

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

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