MBSB Bhd (XKLS:1171) Beneish M-Score: -2.55 (As of Jun. 26, 2026)


XKLS:1171 MBSB Bhd XKLS:1171
44 GF Score
Price RM0.64
GF Value RM0.72
Valuation Modestly Undervalued
! 5 Warning Signs
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What is MBSB Bhd Beneish M-Score?

MBSB Bhd XKLS:1171 -0.78% 44 Beneish M-Score is -2.55 as of Jun. 26, 2026. GuruFocus rates XKLS:1171 with a GF Score™ of 44/100 and a GF Value™ of RM0.72 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,397 Banks companies, MBSB Bhd ranks better than 76.31% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:1171' s Beneish M-Score Range Over the Past 10 Years
Min: -2.93   Med: -2.48   Max: 7.09
Current: -2.55

During the past 13 years, the highest Beneish M-Score of MBSB Bhd was 7.09. The lowest was -2.93. And the median was -2.48.

XKLS:1171
44GF Score
MBSB Bhd XKLS:1171
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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MBSB 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 MBSB 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+0.528 * 1+0.404 * 1.0007+0.892 * 0.8788+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7658+4.679 * -0.014352-0.327 * 0.8031
=-2.55

* 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 RM0 Mil.
Revenue was 334.092 + 321.578 + 380.001 + 424.64 = RM1,460 Mil.
Gross Profit was 334.092 + 321.578 + 380.001 + 424.64 = RM1,460 Mil.
Total Current Assets was RM0 Mil.
Total Assets was RM67,959 Mil.
Property, Plant and Equipment(Net PPE) was RM317 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM87 Mil.
Total Current Liabilities was RM0 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,342 Mil.
Net Income was 30.137 + 3.635 + 95.644 + 95.557 = RM225 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 279.141 + 3112.205 + -1347.321 + -843.697 = RM1,200 Mil.
 Total Receivables was RM0 Mil.
Revenue was 378.608 + 410.575 + 436.611 + 435.846 = RM1,662 Mil.
Gross Profit was 378.608 + 410.575 + 436.611 + 435.846 = RM1,662 Mil.
Total Current Assets was RM0 Mil.
Total Assets was RM62,723 Mil.
Property, Plant and Equipment(Net PPE) was RM338 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM129 Mil.
Total Current Liabilities was RM0 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,542 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)
=(0 / 1460.311) / (0 / 1661.64)
=0 / 0
=1

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)
=(1661.64 / 1661.64) / (1460.311 / 1460.311)
=1 / 1
=1

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 - (0 + 316.865) / 67959.011) / (1 - (0 + 337.815) / 62722.506)
=0.995337 / 0.994614
=1.0007

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
=1460.311 / 1661.64
=0.8788

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 + 337.815)) / (0 / (0 + 316.865))
=0 / 0
=1

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)
=(86.857 / 1460.311) / (129.048 / 1661.64)
=0.059478 / 0.077663
=0.7658

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)
=((1341.698 + 0) / 67959.011) / ((1542.055 + 0) / 62722.506)
=0.019743 / 0.024585
=0.8031

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
=(224.973 - 0 - 1200.328) / 67959.011
=-0.014352

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.

MBSB Bhd has a M-score of -2.55 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 -2.55 mean?
MBSB Bhd (XKLS:1171) has a Beneish M-Score of -2.55 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MBSB Bhd and its competitors. According to the industry distribution chart, MBSB Bhd ranks #331 out of 1397 companies in the Banks industry, placing it in the top 23.7%.
Is MBSB Bhd's Beneish M-Score too high?
MBSB Bhd's current Beneish M-Score is -2.55. Based on the distribution chart, MBSB Bhd ranks #331 out of 1397 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, MBSB Bhd has a GF Score™ of 44/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MBSB Bhd's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, MBSB Bhd ranks #331 out of 1397 companies for Beneish M-Score. This places MBSB Bhd in the top 24% of its industry — outperforming the majority of peers. 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 Banks company?
A good Beneish M-Score depends on the Banks 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 MBSB Bhd and its competitors. MBSB Bhd's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MBSB Bhd stock overvalued right now?
Based on GuruFocus' analysis, MBSB Bhd (XKLS:1171) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.72, compared to a current price of RM0.64 — trading 11.8% below its estimated fair value. The current Beneish M-Score is -2.55. MBSB Bhd's overall GF Score™ is 44/100 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 MBSB Bhd (XKLS:1171), the current Beneish M-Score is -2.55 as of Jun. 26, 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.

Is MBSB Bhd (XKLS:1171) Overvalued in 2026?

Based on GuruFocus' analysis, MBSB Bhd stock appears to be undervalued. The current stock price of RM0.64 is trading 11.8% below its estimated GF Value™ of RM0.72. GuruFocus considers MBSB Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:1171:

  • Beneish M-Score: -2.55
  • GF Value™: RM0.72 vs. price of RM0.64 (11.8% below fair value)
  • GF Score™: 44/100 with 5 warning signs

No single metric tells the full story. See the XKLS:1171 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MBSB Bhd Business Description

Address PJ Sentral Lot 12, Persiaran Barat, Level 25, Menara MBSB Bank, Seksyen 52, Petaling Jaya, SGR, MYS, 46200
MBSB Bhd is a Malaysia-based banking company. The company operates through the following segments: Consumer Banking, which includes consumer financing such as property financing, personal financing, and wealth management services with individual customers in Malaysia; Corporate Banking segment includes corporate financing, wholesale financing, contract financing and commercial property financing with business customers; Global Market segment includes saving accounts, current accounts, term deposits, investment accounts, treasury activities including money market, sukuk, derivatives and trading of capital market securities; Investment segment refers to the operations of investment banking, asset management and all other related financial services; and Others segment.
44GF Score

Get the complete analysis for XKLS:1171

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

RM0.64
Price
RM0.72
GF Value