Carlo Rino Group BhdXKLS:0335 60 Beneish M-Score is -3.31 as of Jun. 25, 2026. GuruFocus rates XKLS:0335 with a GF Score™ of 60/100 and a GF Value™ of RM0.28 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,003 Manufacturing - Apparel & Accessories companies, Carlo Rino Group Bhd ranks better than 89.73% 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.
Good Sign:
Beneish M-Score -3.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Carlo Rino Group Bhd's Beneish M-Score or its related term are showing as below:
XKLS:0335'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.31 Med: -2.78 Max: 0.02
Current: -3.31
During the past 10 years, the highest Beneish M-Score of Carlo Rino Group Bhd was 0.02. The lowest was -3.31. And the median was -2.78.
Carlo Rino Group Bhd Beneish M-Score Related Terms
Carlo Rino Group Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Carlo Rino 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.
XKLS:0335 vs NKE, DECK, ONON: Beneish M-Score Comparison
For the Footwear & Accessories subindustry, Carlo Rino 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.
Carlo Rino Group Bhd Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Carlo Rino Group Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Carlo Rino Group Bhd's Beneish M-Score falls into.
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 Carlo Rino 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 * 0.6134
+
0.528 * 1.0455
+
0.404 * 0.1883
+
0.892 * 1.2446
+
0.115 * 0.7578
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1679
+
4.679 * -0.081434
-
0.327 * 0.8495
=
-3.31
* 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.
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.
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))
=
(7.703 / (7.703 + 63.879))
/
(9.625 / (9.625 + 58.157))
=
0.107611
/
0.141999
=
0.7578
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
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
=
(12.309 - 0
-
27.791)
/
190.116
=
-0.081434
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.
Carlo Rino Group Bhd has a M-score of -3.31 suggests that the company is unlikely to be a manipulator.
Carlo Rino Group Bhd (XKLS:0335) has a Beneish M-Score of -3.31 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Carlo Rino Group Bhd and its competitors. According to the industry distribution chart, Carlo Rino Group Bhd ranks #103 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 10.3%.
Is Carlo Rino Group Bhd's Beneish M-Score too high?
Carlo Rino Group Bhd's current Beneish M-Score is -3.31. Based on the distribution chart, Carlo Rino Group Bhd ranks #103 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Carlo Rino Group Bhd has a GF Score™ of 60/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carlo Rino Group Bhd's Beneish M-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Carlo Rino Group Bhd ranks #103 out of 1003 companies for Beneish M-Score. This places Carlo Rino Group Bhd in the top 10% of its industry — outperforming the majority of peers. 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Carlo Rino Group Bhd and its competitors. Carlo Rino Group Bhd's current Beneish M-Score is -3.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carlo Rino Group Bhd stock overvalued right now?
Based on GuruFocus' analysis, Carlo Rino Group Bhd (XKLS:0335) is currently considered Significantly Undervalued. The stock's GF Value™ is RM0.28, compared to a current price of RM0.20 — trading 30.4% below its estimated fair value. The current Beneish M-Score is -3.31. Carlo Rino Group Bhd's overall GF Score™ is 60/100 with 4 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 Carlo Rino Group Bhd (XKLS:0335), the current Beneish M-Score is -3.31 as of Jun. 25, 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 Carlo Rino Group Bhd (XKLS:0335) Overvalued in 2026?
Based on GuruFocus' analysis, Carlo Rino Group Bhd stock appears to be undervalued.
The current stock price of RM0.20 is trading 30.4% below its estimated GF Value™ of RM0.28.
GuruFocus considers Carlo Rino Group Bhd to be Significantly Undervalued.
Key valuation signals for XKLS:0335:
Beneish M-Score: -3.31
GF Value™: RM0.28 vs. price of RM0.20 (30.4% below fair value)
No single metric tells the full story. See the XKLS:0335 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carlo Rino Group Bhd is an investment holding company. Along with its subsidiaries, it is principally involved in the business of designing, promoting, marketing, distributing, and retailing women's handbags, footwear, and accessories. Its product portfolio comprises sunglasses, perfumes, wallets, shoes, bags, keychains, hats, and other accessories, which are marketed under the Carlo Rino brand. The group is also involved in property development and property investment; investment holdings of securities; and provision of management services. Its reportable segments are: Retailing, which derives maximum revenue, and Investment and management services. The business activities of the group are predominantly located in Malaysia.
60GF Score
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