OGX Group Bhd (XKLS:0395) Beneish M-Score: -1.31 (As of Aug. 09, 2026)

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XKLS:0395 OGX Group Bhd XKLS:0395
16 GF Score
Price RM0.45
! 2 Warning Signs
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What is OGX Group Bhd Beneish M-Score?

OGX Group Bhd XKLS:0395 +1.14% 16 Beneish M-Score is -1.31 as of Aug. 09, 2026. GuruFocus rates XKLS:0395 with a GF Score™ of 16/100. The stock has 2 warning signs investors should review. Among 2,627 Software companies, OGX Group Bhd ranks worse than 86.83% 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.

Warning Sign:

Beneish M-Score -1.31 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0395' s Beneish M-Score Range Over the Past 10 Years
Min: -2.87   Med: -2.82   Max: -1.31
Current: -1.31

During the past 5 years, the highest Beneish M-Score of OGX Group Bhd was -1.31. The lowest was -2.87. And the median was -2.82.

OGX Group Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for OGX 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.

OGX Group Bhd Beneish M-Score Chart

OGX Group Bhd Annual Data
Trend May22 May23 May24 May25 May26
Beneish M-Score
0.00 0.00 -2.82 -2.87 -1.31

OGX Group Bhd Semi-Annual Data
May22 May23 May24 May25 May26
Beneish M-Score 0.00 0.00 -2.82 -2.87 -1.31

XKLS:0395 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, OGX 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.

OGX Group Bhd Beneish M-Score vs Software Industry

For the Software industry and Technology sector, OGX Group Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:0395
16GF Score
OGX Group Bhd XKLS:0395
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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OGX 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 OGX 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 * 1.3334+0.528 * 1.0846+0.404 * 0.5504+0.892 * 1.6146+0.115 * 1.2937
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8976+4.679 * 0.064979-0.327 * 0.7198
=-1.31

* 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.

This Year (May26) TTM:Last Year (May25) TTM:
Total Receivables was RM93.4 Mil.
Revenue was RM284.7 Mil.
Gross Profit was RM57.4 Mil.
Total Current Assets was RM193.1 Mil.
Total Assets was RM207.6 Mil.
Property, Plant and Equipment(Net PPE) was RM14.3 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM22.5 Mil.
Total Current Liabilities was RM99.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.3 Mil.
Net Income was RM23.2 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM9.7 Mil.
 Total Receivables was RM43.4 Mil.
Revenue was RM176.3 Mil.
Gross Profit was RM38.6 Mil.
Total Current Assets was RM99.8 Mil.
Total Assets was RM114.2 Mil.
Property, Plant and Equipment(Net PPE) was RM14.2 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.1 Mil.
Selling, General, & Admin. Expense(SGA) was RM15.5 Mil.
Total Current Liabilities was RM71.8 Mil.
Long-Term Debt & Capital Lease Obligation was RM4.5 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)
=(93.437 / 284.667) / (43.402 / 176.308)
=0.328233 / 0.246171
=1.3334

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)
=(38.59 / 176.308) / (57.449 / 284.667)
=0.218878 / 0.201811
=1.0846

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 - (193.133 + 14.346) / 207.606) / (1 - (99.844 + 14.242) / 114.213)
=0.000612 / 0.001112
=0.5504

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
=284.667 / 176.308
=1.6146

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))
=(1.103 / (1.103 + 14.242)) / (0.844 / (0.844 + 14.346))
=0.07188 / 0.055563
=1.2937

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)
=(22.465 / 284.667) / (15.501 / 176.308)
=0.078917 / 0.08792
=0.8976

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)
=((0.281 + 99.584) / 207.606) / ((4.536 + 71.788) / 114.213)
=0.481031 / 0.66826
=0.7198

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
=(23.151 - 0 - 9.661) / 207.606
=0.064979

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.

OGX Group Bhd has a M-score of -1.31 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 -1.31 mean?
OGX Group Bhd (XKLS:0395) has a Beneish M-Score of -1.31 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on OGX Group Bhd and its competitors. According to the industry distribution chart, OGX Group Bhd ranks #2281 out of 2627 companies in the Software industry, placing it in the top 86.8%.
Is OGX Group Bhd's Beneish M-Score too high?
OGX Group Bhd's current Beneish M-Score is -1.31. Based on the distribution chart, OGX Group Bhd ranks #2281 out of 2627 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, OGX Group Bhd has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does OGX Group Bhd's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, OGX Group Bhd ranks #2281 out of 2627 companies for Beneish M-Score. This places OGX 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 Software company?
A good Beneish M-Score depends on the Software 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 OGX Group Bhd and its competitors. OGX Group Bhd's current Beneish M-Score is -1.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is OGX Group Bhd stock overvalued right now?
OGX Group Bhd (XKLS:0395) has a current Beneish M-Score of -1.31. The current Beneish M-Score is -1.31. OGX Group Bhd's overall GF Score™ is 16/100 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 OGX Group Bhd (XKLS:0395), the current Beneish M-Score is -1.31 as of Aug. 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.

OGX Group Bhd Business Description

Address No. 18 & 20, Jalan Astaka U8/84A, Taman Perindustrian Bukit Jelutong, Seksyen U8, Shah Alam, SGR, MYS, 40150
OGX Group Bhd is an investment holding company. The company, along with its subsidiaries, is principally involved in the provision of IT infrastructure solutions, focusing on the provision of network solutions, cybersecurity solutions and enterprise data centre solutions as well as distribution of IT infrastructure products and product warranties and support services. The company's segments include the Solutions segment and the Non-solutions segment. The majority of revenue is derived from the Solutions segment, which focuses on the provision of IT infrastructure solutions that encompass the design and implementation of IT infrastructure solutions to its customers. Geographically, it generates all of its revenue from Malaysia.
16GF Score

Get the complete analysis for XKLS:0395

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

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