Enproserve Group Bhd (XKLS:0367) Beneish M-Score: -2.14 (As of Jul. 01, 2026)


XKLS:0367 Enproserve Group Bhd XKLS:0367
12 GF Score
Price RM0.20
! 5 Warning Signs
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What is Enproserve Group Bhd Beneish M-Score?

Enproserve Group Bhd XKLS:0367 12 Beneish M-Score is -2.14 as of Jul. 01, 2026. GuruFocus rates XKLS:0367 with a GF Score™ of 12/100. The stock has 5 warning signs investors should review. Among 1,700 Construction companies, Enproserve Group Bhd ranks worse than 71.71% 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 -2.14 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0367' s Beneish M-Score Range Over the Past 10 Years
Min: -2.59   Med: -2.14   Max: -1.57
Current: -2.14

During the past 5 years, the highest Beneish M-Score of Enproserve Group Bhd was -1.57. The lowest was -2.59. And the median was -2.14.

Enproserve Group Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Enproserve 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.

Enproserve Group Bhd Beneish M-Score Chart

Enproserve Group Bhd Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -1.57 -2.59 -2.14

Enproserve Group Bhd Semi-Annual Data
Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -1.57 -2.59 -2.14

XKLS:0367 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Enproserve 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.

Enproserve Group Bhd Beneish M-Score vs Construction Industry

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

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


XKLS:0367
12GF Score
Enproserve Group Bhd XKLS:0367
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Enproserve 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 Enproserve 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 * 1.4419+0.528 * 1.1398+0.404 * 0.796+0.892 * 0.8584+0.115 * 0.6977
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2617+4.679 * 0.012817-0.327 * 0.7408
=-2.14

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was RM75.7 Mil.
Revenue was RM170.3 Mil.
Gross Profit was RM45.3 Mil.
Total Current Assets was RM122.6 Mil.
Total Assets was RM219.2 Mil.
Property, Plant and Equipment(Net PPE) was RM94.2 Mil.
Depreciation, Depletion and Amortization(DDA) was RM7.9 Mil.
Selling, General, & Admin. Expense(SGA) was RM23.9 Mil.
Total Current Liabilities was RM65.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM35.5 Mil.
Net Income was RM5.1 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM2.3 Mil.
 Total Receivables was RM61.1 Mil.
Revenue was RM198.4 Mil.
Gross Profit was RM60.1 Mil.
Total Current Assets was RM80.5 Mil.
Total Assets was RM160.9 Mil.
Property, Plant and Equipment(Net PPE) was RM78.2 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.5 Mil.
Selling, General, & Admin. Expense(SGA) was RM22.1 Mil.
Total Current Liabilities was RM57.8 Mil.
Long-Term Debt & Capital Lease Obligation was RM42.0 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)
=(75.669 / 170.318) / (61.134 / 198.409)
=0.444281 / 0.308121
=1.4419

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)
=(60.128 / 198.409) / (45.285 / 170.318)
=0.303051 / 0.265885
=1.1398

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 - (122.646 + 94.191) / 219.16) / (1 - (80.536 + 78.238) / 160.917)
=0.0106 / 0.013317
=0.796

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
=170.318 / 198.409
=0.8584

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))
=(4.457 / (4.457 + 78.238)) / (7.886 / (7.886 + 94.191))
=0.053897 / 0.077255
=0.6977

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)
=(23.888 / 170.318) / (22.056 / 198.409)
=0.140255 / 0.111164
=1.2617

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)
=((35.464 + 65.141) / 219.16) / ((41.95 + 57.761) / 160.917)
=0.459048 / 0.619642
=0.7408

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
=(5.097 - 0 - 2.288) / 219.16
=0.012817

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.

Enproserve Group Bhd has a M-score of -2.14 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.14 mean?
Enproserve Group Bhd (XKLS:0367) has a Beneish M-Score of -2.14 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Enproserve Group Bhd and its competitors. According to the industry distribution chart, Enproserve Group Bhd ranks #1219 out of 1700 companies in the Construction industry, placing it in the top 71.7%.
Is Enproserve Group Bhd's Beneish M-Score too high?
Enproserve Group Bhd's current Beneish M-Score is -2.14. Based on the distribution chart, Enproserve Group Bhd ranks #1219 out of 1700 companies in the Construction industry, which is below the industry midpoint. Overall, Enproserve Group Bhd has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Enproserve Group Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Enproserve Group Bhd ranks #1219 out of 1700 companies for Beneish M-Score. This places Enproserve 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 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 Enproserve Group Bhd and its competitors. Enproserve Group Bhd's current Beneish M-Score is -2.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enproserve Group Bhd stock overvalued right now?
Enproserve Group Bhd (XKLS:0367) has a current Beneish M-Score of -2.14. The current Beneish M-Score is -2.14. Enproserve Group Bhd's overall GF Score™ is 12/100 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 Enproserve Group Bhd (XKLS:0367), the current Beneish M-Score is -2.14 as of Jul. 01, 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.

Enproserve Group Bhd Business Description

Address 13-G-01, Star Central, Lingkaran Cyber Point Timur, Cyber 12, Cyberjaya, SGR, MYS, 63000
Enproserve Group Bhd is a mechanical and civil engineering service provider focusing on providing plant maintenance and turnaround, EPCC, as well as FM services. Within its plant maintenance and turnaround segment, It provides M&R of static equipment and structures covering comprehensive maintenance and plant turnaround. Its EPCC segment is focused on upgrades and replacement of existing plant facilities, as well as construction of new amenities and facilities. Its FM segment is focused on mechanical and electrical, cleaning and value-added services for the built environment of government office and residential buildings.
12GF Score

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

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