AMS Advanced Material Bhd (XKLS:0399) Beneish M-Score: 0.00 (As of Aug. 10, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XKLS:0399 AMS Advanced Material Bhd XKLS:0399
14 GF Score
Price RM0.46
! 6 Warning Signs
View Full Analysis

What is AMS Advanced Material Bhd Beneish M-Score?

AMS Advanced Material Bhd XKLS:0399 +1.11% 14 Beneish M-Score is 0.00 as of Aug. 10, 2026. GuruFocus rates XKLS:0399 with a GF Score™ of 14/100. The stock has 6 warning signs investors should review. Among 2,906 Industrial Products companies, AMS Advanced Material Bhd ranks worse than 34411.53% 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 AMS Advanced Material Bhd's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of AMS Advanced Material Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

AMS Advanced Material Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AMS Advanced Material 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.

AMS Advanced Material Bhd Beneish M-Score Chart

AMS Advanced Material Bhd Annual Data
Trend Sep22 Sep23 Sep24 Sep25
Beneish M-Score
0.00 0.00 0.00 0.00

AMS Advanced Material Bhd Semi-Annual Data
Sep22 Sep23 Sep24 Sep25
Beneish M-Score 0.00 0.00 0.00 0.00

XKLS:0399 vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, AMS Advanced Material 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.

AMS Advanced Material Bhd Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, AMS Advanced Material Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where AMS Advanced Material Bhd's Beneish M-Score falls into.


XKLS:0399
14GF Score
AMS Advanced Material Bhd XKLS:0399
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

AMS Advanced Material 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 AMS Advanced Material 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was RM28.8 Mil.
Revenue was RM129.7 Mil.
Gross Profit was RM20.2 Mil.
Total Current Assets was RM84.9 Mil.
Total Assets was RM89.3 Mil.
Property, Plant and Equipment(Net PPE) was RM4.4 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.6 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.0 Mil.
Total Current Liabilities was RM47.7 Mil.
Long-Term Debt & Capital Lease Obligation was RM2.3 Mil.
Net Income was RM8.6 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM-5.3 Mil.
 Total Receivables was RM40.3 Mil.
Revenue was RM99.2 Mil.
Gross Profit was RM13.1 Mil.
Total Current Assets was RM71.0 Mil.
Total Assets was RM73.8 Mil.
Property, Plant and Equipment(Net PPE) was RM2.8 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.9 Mil.
Total Current Liabilities was RM51.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.7 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)
=(28.766 / 129.702) / (40.284 / 99.194)
=0.221785 / 0.406113
=

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)
=(13.126 / 99.194) / (20.247 / 129.702)
=0.132327 / 0.156104
=

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 - (84.898 + 4.438) / 89.336) / (1 - (71.036 + 2.765) / 73.801)
=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
=129.702 / 99.194
=

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))
=(0.823 / (0.823 + 2.765)) / (1.555 / (1.555 + 4.438))
=0.229376 / 0.259469
=

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)
=(1.961 / 129.702) / (0.926 / 99.194)
=0.015119 / 0.009335
=

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)
=((2.325 + 47.699) / 89.336) / ((1.689 + 51.083) / 73.801)
=0.559953 / 0.715058
=

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
=(8.573 - 0 - -5.301) / 89.336
=0.155301

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?
AMS Advanced Material Bhd (XKLS:0399) has a Beneish M-Score of 0.00 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AMS Advanced Material Bhd and its competitors. According to the industry distribution chart, AMS Advanced Material Bhd ranks #999999 out of 2906 companies in the Industrial Products industry.
Is AMS Advanced Material Bhd's Beneish M-Score too high?
AMS Advanced Material Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, AMS Advanced Material Bhd ranks #999999 out of 2906 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, AMS Advanced Material Bhd has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does AMS Advanced Material Bhd's Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, AMS Advanced Material Bhd ranks #999999 out of 2906 companies for Beneish M-Score. This places AMS Advanced Material 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 AMS Advanced Material Bhd and its competitors. AMS Advanced Material 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 AMS Advanced Material Bhd stock overvalued right now?
AMS Advanced Material Bhd (XKLS:0399) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. AMS Advanced Material Bhd's overall GF Score™ is 14/100 with 6 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 AMS Advanced Material Bhd (XKLS:0399), the current Beneish M-Score is 0.00 as of Aug. 10, 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.

AMS Advanced Material Bhd Business Description

Address No. 8, Jalan Industri Seri Juru, Taman Industri Seri Juru, Simpang Ampat, PNG, MYS, 14100
AMS Advanced Material Bhd is an investment holding company, principally involved in the trading of semi-finished aluminium and copper products and processing of semi-finished aluminium products. Its business segments are: i) Trading of semi-finished aluminium and copper products: It involves the trading of semi-finished aluminium and copper products that are used as raw materials for further manufacturing and fabrication to create finished products, (ii) Processing of semi-finished aluminium products: It involves value-added processing (such as cutting and shearing) on aluminium products according to the customers' requirements. The majority revenue is derived from the rocessing of semi-finished aluminium products segment. Geographically, it generates the maximum revenue from Malaysia.
14GF Score

Get the complete analysis for XKLS:0399

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

RM0.46
Price