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IOI BhdXKLS:1961 +0.45%81 Beneish M-Score is -2.12 as of Jul. 30, 2026. GuruFocus rates XKLS:1961 with a GF Score™ of 81/100 and a GF Value™ of RM4.13 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,852 Consumer Packaged Goods companies, IOI Bhd ranks worse than 74.51% 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 -2.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for IOI Bhd's Beneish M-Score or its related term are showing as below:
XKLS:1961'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.39 Max: -1.68
Current: -2.12
During the past 13 years, the highest Beneish M-Score of IOI Bhd was -1.68. The lowest was -2.83. And the median was -2.39.
IOI Bhd Beneish M-Score Related Terms
IOI Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for IOI 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.
For the Packaged Foods subindustry, IOI 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.
IOI Bhd Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, IOI Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IOI Bhd's Beneish M-Score falls into.
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 IOI 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 * 0.9618
+
0.528 * 1.0773
+
0.404 * 1.0422
+
0.892 * 1.1803
+
0.115 * 1.0037
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9016
+
4.679 * 0.026337
-
0.327 * 0.8907
=
-2.12
* 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.
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.
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))
=
(397.1 / (397.1 + 9182.3))
/
(404.6 / (404.6 + 9391.6))
=
0.041454
/
0.041302
=
1.0037
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
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
=
(1520.6 - 0
-
1043.1)
/
18130.7
=
0.026337
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.
IOI Bhd has a M-score of -2.12 suggests that the company is unlikely to be a manipulator.
IOI Bhd (XKLS:1961) has a Beneish M-Score of -2.12 as of Jul. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on IOI Bhd and its competitors. According to the industry distribution chart, IOI Bhd ranks #1380 out of 1852 companies in the Consumer Packaged Goods industry, placing it in the top 74.5%.
Is IOI Bhd's Beneish M-Score too high?
IOI Bhd's current Beneish M-Score is -2.12. Based on the distribution chart, IOI Bhd ranks #1380 out of 1852 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, IOI Bhd has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does IOI Bhd's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, IOI Bhd ranks #1380 out of 1852 companies for Beneish M-Score. This places IOI 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 IOI Bhd and its competitors. IOI Bhd's current Beneish M-Score is -2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IOI Bhd stock overvalued right now?
Based on GuruFocus' analysis, IOI Bhd (XKLS:1961) is currently considered Fairly Valued. The stock's GF Value™ is RM4.13, compared to a current price of RM4.47 — trading 8.2% above its estimated fair value. The current Beneish M-Score is -2.12. IOI Bhd's overall GF Score™ is 81/100 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 IOI Bhd (XKLS:1961), the current Beneish M-Score is -2.12 as of Jul. 30, 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 IOI Bhd (XKLS:1961) Overvalued in 2026?
Based on GuruFocus' analysis, IOI Bhd stock appears to be overvalued.
The current stock price of RM4.47 is trading 8.2% above its estimated GF Value™ of RM4.13.
GuruFocus considers IOI Bhd to be Fairly Valued.
Key valuation signals for XKLS:1961:
Beneish M-Score: -2.12
GF Value™: RM4.13 vs. price of RM4.47 (8.2% above fair value)
No single metric tells the full story. See the XKLS:1961 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IOI Corp Bhd is a palm oil producer. Its operations include oil palm plantations and Resource-based manufacturing divisions. The plantations are monitored to check oil palm nutrient status, seed breeding, ground conditions, and other data sources to improve the efficiency of each estate. The majority of revenue from the plantations comes from sales to its manufacturing divisions. Once the oil reaches the manufacturing divisions, it can be refined to create snack ingredients, soap, plastics, fatty acids, and other oils. The products are exported to many different customers, including some multinational corporations. The Group has two (2) reportable operating segments: Plantation, Resource-based manufacturing.
81GF Score
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