Verdant Solar Holdings Bhd (XKLS:0373) Beneish M-Score: 0.00 (As of Jul. 09, 2026)


XKLS:0373 Verdant Solar Holdings Bhd XKLS:0373
16 GF Score
Price RM0.19
! 1 Warning Sign
View Full Analysis

What is Verdant Solar Holdings Bhd Beneish M-Score?

Verdant Solar Holdings Bhd XKLS:0373 16 Beneish M-Score is 0.00 as of Jul. 09, 2026. GuruFocus rates XKLS:0373 with a GF Score™ of 16/100. The stock has 1 warning sign investors should review. Among 987 Semiconductors companies, Verdant Solar Holdings Bhd ranks worse than 101317.02% 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 Verdant Solar 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 Verdant Solar Holdings Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Verdant Solar Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Verdant Solar 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.

Verdant Solar Holdings Bhd Beneish M-Score Chart

Verdant Solar Holdings Bhd Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 0.00 0.00

Verdant Solar Holdings Bhd Quarterly Data
Jun22 Jun23 Jun24 Jun25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

XKLS:0373 vs FSLR, NXT, ENPH: Beneish M-Score Comparison

For the Solar subindustry, Verdant Solar 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.

Verdant Solar Holdings Bhd Beneish M-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Verdant Solar Holdings Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:0373
16GF Score
Verdant Solar Holdings Bhd XKLS:0373
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Verdant Solar 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 Verdant Solar 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was RM3.58 Mil.
Revenue was RM111.43 Mil.
Gross Profit was RM42.95 Mil.
Total Current Assets was RM76.46 Mil.
Total Assets was RM85.30 Mil.
Property, Plant and Equipment(Net PPE) was RM8.78 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.68 Mil.
Selling, General, & Admin. Expense(SGA) was RM3.32 Mil.
Total Current Liabilities was RM23.01 Mil.
Long-Term Debt & Capital Lease Obligation was RM5.84 Mil.
Net Income was RM17.20 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM14.45 Mil.
 Total Receivables was RM3.24 Mil.
Revenue was RM56.28 Mil.
Gross Profit was RM19.76 Mil.
Total Current Assets was RM30.78 Mil.
Total Assets was RM32.07 Mil.
Property, Plant and Equipment(Net PPE) was RM1.28 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.23 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.15 Mil.
Total Current Liabilities was RM21.27 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.92 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)
=(3.583 / 111.426) / (3.244 / 56.276)
=0.032156 / 0.057644
=

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)
=(19.759 / 56.276) / (42.949 / 111.426)
=0.351109 / 0.385449
=

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 - (76.46 + 8.778) / 85.302) / (1 - (30.783 + 1.284) / 32.067)
=0.00075 / 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
=111.426 / 56.276
=

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))
=(0.229 / (0.229 + 1.284)) / (0.68 / (0.68 + 8.778))
=0.151355 / 0.071897
=

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)
=(3.323 / 111.426) / (2.151 / 56.276)
=0.029822 / 0.038222
=

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)
=((5.838 + 23.01) / 85.302) / ((1.923 + 21.268) / 32.067)
=0.338187 / 0.723205
=

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
=(17.204 - 0 - 14.454) / 85.302
=0.032238

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?
Verdant Solar Holdings Bhd (XKLS:0373) has a Beneish M-Score of 0.00 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Verdant Solar Holdings Bhd and its competitors. According to the industry distribution chart, Verdant Solar Holdings Bhd ranks #999999 out of 987 companies in the Semiconductors industry.
Is Verdant Solar Holdings Bhd's Beneish M-Score too high?
Verdant Solar Holdings Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Verdant Solar Holdings Bhd ranks #999999 out of 987 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Verdant Solar Holdings Bhd has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Verdant Solar Holdings Bhd's Beneish M-Score compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Verdant Solar Holdings Bhd ranks #999999 out of 987 companies for Beneish M-Score. This places Verdant Solar 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 Verdant Solar Holdings Bhd and its competitors. Verdant Solar 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 Verdant Solar Holdings Bhd stock overvalued right now?
Verdant Solar Holdings Bhd (XKLS:0373) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Verdant Solar Holdings Bhd's overall GF Score™ is 16/100 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 Verdant Solar Holdings Bhd (XKLS:0373), the current Beneish M-Score is 0.00 as of Jul. 09, 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.

Verdant Solar Holdings Bhd Business Description

Address Jalan PJU 1A/46, Level 9, Menara Dana 13, Dana 1 Commercial Centre, Petaling Jaya, SGR, MYS, 47301
Verdant Solar Holdings Bhd is principally an investment holding company. Through its subsidiaries, it is principally involved in the provision of EPCC services for solar PV systems, O&M services for solar PV systems and trading of solar products. The company is a solar PV firm and it is principally involved in: (a) EPCC services for solar PV systems; (b) O&M services for solar PV systems; and (c) trading of solar products.
16GF Score

Get the complete analysis for XKLS:0373

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

RM0.19
Price