Cropmate Bhd (XKLS:0331) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


XKLS:0331 Cropmate Bhd XKLS:0331
18 GF Score
Price RM0.18
! 2 Warning Signs
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What is Cropmate Bhd Beneish M-Score?

Cropmate Bhd XKLS:0331 18 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates XKLS:0331 with a GF Score™ of 18/100. The stock has 2 warning signs investors should review. Among 245 Agriculture companies, Cropmate Bhd ranks worse than 408162.86% 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 Cropmate Bhd's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Cropmate Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Cropmate Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cropmate 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.

Cropmate Bhd Beneish M-Score Chart

Cropmate Bhd Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Cropmate Bhd Quarterly Data
Dec21 Dec22 Dec23 May24 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 0.00 0.00 0.00 0.00 0.00

XKLS:0331 vs CTVA, CF, MOS: Beneish M-Score Comparison

For the Agricultural Inputs subindustry, Cropmate 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.

Cropmate Bhd Beneish M-Score vs Agriculture Industry

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

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


XKLS:0331
18GF Score
Cropmate Bhd XKLS:0331
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cropmate 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 Cropmate 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 RM35.2 Mil.
Revenue was 58.566 + 41.332 + 60.853 + 45.74 = RM206.5 Mil.
Gross Profit was 9.932 + 7.086 + 9.388 + 8.005 = RM34.4 Mil.
Total Current Assets was RM85.9 Mil.
Total Assets was RM142.3 Mil.
Property, Plant and Equipment(Net PPE) was RM56.4 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM14.4 Mil.
Total Current Liabilities was RM24.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM17.7 Mil.
Net Income was 4.16 + 3.482 + 3.965 + 3.452 = RM15.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 0.595 + 2.501 + 3.56 + -6.013 = RM0.6 Mil.
 Total Receivables was RM36.1 Mil.
Revenue was 48.616 + 36.118 + 45.347 + 0 = RM130.1 Mil.
Gross Profit was 9.309 + 5.627 + 8.682 + 0 = RM23.6 Mil.
Total Current Assets was RM112.2 Mil.
Total Assets was RM129.1 Mil.
Property, Plant and Equipment(Net PPE) was RM16.9 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.3 Mil.
Selling, General, & Admin. Expense(SGA) was RM10.7 Mil.
Total Current Liabilities was RM22.2 Mil.
Long-Term Debt & Capital Lease Obligation was RM17.6 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)
=(35.232 / 206.491) / (36.083 / 130.081)
=0.170622 / 0.277389
=

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)
=(23.618 / 130.081) / (34.411 / 206.491)
=0.181564 / 0.166646
=

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 - (85.899 + 56.384) / 142.283) / (1 - (112.185 + 16.883) / 129.068)
=-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
=206.491 / 130.081
=

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))
=(1.316 / (1.316 + 16.883)) / (1.242 / (1.242 + 56.384))
=0.072312 / 0.021553
=

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)
=(14.421 / 206.491) / (10.665 / 130.081)
=0.069838 / 0.081987
=

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)
=((17.713 + 24.087) / 142.283) / ((17.587 + 22.22) / 129.068)
=0.293781 / 0.308419
=

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
=(15.059 - 0 - 0.643) / 142.283
=0.101319

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?
Cropmate Bhd (XKLS:0331) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cropmate Bhd and its competitors. According to the industry distribution chart, Cropmate Bhd ranks #999999 out of 245 companies in the Agriculture industry.
Is Cropmate Bhd's Beneish M-Score too high?
Cropmate Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Cropmate Bhd ranks #999999 out of 245 companies in the Agriculture industry, which is in the bottom quartile relative to peers. Overall, Cropmate Bhd has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Cropmate Bhd's Beneish M-Score compare to CTVA and CF?
According to the Agriculture industry distribution chart, Cropmate Bhd ranks #999999 out of 245 companies for Beneish M-Score. This places Cropmate 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 an Agriculture company?
A good Beneish M-Score depends on the Agriculture 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 Cropmate Bhd and its competitors. Cropmate 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 Cropmate Bhd stock overvalued right now?
Cropmate Bhd (XKLS:0331) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Cropmate Bhd's overall GF Score™ is 18/100 with 2 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 Cropmate Bhd (XKLS:0331), the current Beneish M-Score is 0.00 as of Jun. 28, 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.

Cropmate Bhd Business Description

Address Jalan Telok Gong KS/10, Lot 8949, Kampung Nelayan, Telok Gong, Darul Ehsan, Pelabuhan Klang, SGR, MYS, 42000
Cropmate Bhd is an holding company and operates through its subsidiary. It is engaged in the formulation and blending of conventional and specialty fertilisers as well as trading of straight fertilisers and related products. Its fertilisers are sold under brand Cropmate Dua Daun. Also in addition, it is involved in the trading of straight fertilisers and related products. The products includes Compacted Fertilisers, Blended Fertilisers and Specialty Fertilisers. The company has two segments: Investment holding and Manufacturing. Key revenue is generated from Manufacturing.
18GF Score

Get the complete analysis for XKLS:0331

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

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