Icents Group Holdings Bhd (XKLS:0366) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


XKLS:0366 Icents Group Holdings Bhd XKLS:0366
15 GF Score
Price RM0.51
! 1 Warning Sign
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What is Icents Group Holdings Bhd Beneish M-Score?

Icents Group Holdings Bhd XKLS:0366 +5.21% 15 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates XKLS:0366 with a GF Score™ of 15/100. The stock has 1 warning sign investors should review. Among 1,704 Construction companies, Icents Group Holdings Bhd ranks worse than 58685.39% 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 Icents Group Holdings Bhd's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Icents Group Holdings Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Icents Group Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Icents Group Holdings 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.

Icents Group Holdings Bhd Beneish M-Score Chart

Icents Group Holdings Bhd Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 0.00 0.00

Icents Group Holdings Bhd Quarterly Data
Jun22 Jun23 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 0.00 0.00

XKLS:0366 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Icents Group Holdings 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.

Icents Group Holdings Bhd Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Icents Group Holdings Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:0366
15GF Score
Icents Group Holdings Bhd XKLS:0366
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Icents Group Holdings 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 Icents Group Holdings 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 RM75.28 Mil.
Revenue was 33.215 + 18.155 + 18.664 + 18.78 = RM88.81 Mil.
Gross Profit was 8.374 + 4.861 + 4.194 + 4.761 = RM22.19 Mil.
Total Current Assets was RM83.21 Mil.
Total Assets was RM96.10 Mil.
Property, Plant and Equipment(Net PPE) was RM12.89 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.76 Mil.
Selling, General, & Admin. Expense(SGA) was RM11.71 Mil.
Total Current Liabilities was RM41.52 Mil.
Long-Term Debt & Capital Lease Obligation was RM7.21 Mil.
Net Income was 3.6 + 0.823 + 1.205 + 1.109 = RM6.74 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -8.846 + 2.905 + -12.224 + 0 = RM-18.17 Mil.
 Total Receivables was RM0.00 Mil.
Revenue was 18.846 + 0 + 0 + 0 = RM18.85 Mil.
Gross Profit was 4.902 + 0 + 0 + 0 = RM4.90 Mil.
Total Current Assets was RM0.00 Mil.
Total Assets was RM0.00 Mil.
Property, Plant and Equipment(Net PPE) was RM0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.28 Mil.
Total Current Liabilities was RM0.00 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 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)
=(75.284 / 88.814) / (0 / 18.846)
=0.847659 / 0
=

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)
=(4.902 / 18.846) / (22.19 / 88.814)
=0.260108 / 0.249848
=

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 - (83.211 + 12.893) / 96.104) / (1 - (0 + 0) / 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
=88.814 / 18.846
=

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 / (0 + 0)) / (0.76 / (0.76 + 12.893))
= / 0.055665
=

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)
=(11.705 / 88.814) / (2.284 / 18.846)
=0.131792 / 0.121193
=

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)
=((7.214 + 41.515) / 96.104) / ((0 + 0) / 0)
=0.507044 /
=

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
=(6.737 - 0 - -18.165) / 96.104
=0.259115

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?
Icents Group Holdings Bhd (XKLS:0366) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Icents Group Holdings Bhd and its competitors. According to the industry distribution chart, Icents Group Holdings Bhd ranks #999999 out of 1704 companies in the Construction industry.
Is Icents Group Holdings Bhd's Beneish M-Score too high?
Icents Group Holdings Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Icents Group Holdings Bhd ranks #999999 out of 1704 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Icents Group Holdings Bhd has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Icents Group Holdings Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Icents Group Holdings Bhd ranks #999999 out of 1704 companies for Beneish M-Score. This places Icents Group Holdings 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Icents Group Holdings Bhd and its competitors. Icents Group Holdings 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 Icents Group Holdings Bhd stock overvalued right now?
Icents Group Holdings Bhd (XKLS:0366) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Icents Group Holdings Bhd's overall GF Score™ is 15/100 with 1 warning sign 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 Icents Group Holdings Bhd (XKLS:0366), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Icents Group Holdings Bhd Business Description

Address Jalan USJ 25/1st Floor, A-02-02, Second Floor, Garden Shoppe @ One City, Subang Jaya, SGR, MYS, 47650
Icents Group Holdings Bhd is involved in the provision of cleanroom services comprising EPCC of cleanrooms, construction of cleanrooms, and other activities. It is also involved in providing other facility services comprising hook-up of machinery and equipment, supply and installation of heavy-duty ceiling systems, construction services, and other activities. Its activities are divided into two segments Cleanroom services comprise EPCC of cleanrooms, construction of cleanrooms, and other activities; and Other facility services comprise hook-up of machinery and equipment, supply and installation of heavy-duty ceiling systems, construction services, and other activities. It also manufactures cleanroom fixtures and related products.
15GF Score

Get the complete analysis for XKLS:0366

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

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