FACB Industries Bhd (XKLS:2984) Beneish M-Score : -2.45 (As of Dec. 14, 2024)

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What is FACB Industries Bhd Beneish M-Score?

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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:2984' s Beneish M-Score Range Over the Past 10 Years
Min: -2.73 Med: -2.48 Max: -2.02
Current: -2.45

During the past 13 years, the highest Beneish M-Score of FACB Industries Bhd was -2.02. The lowest was -2.73. And the median was -2.48.

FACB Industries Bhd Beneish M-Score Historical Data

The historical data trend for FACB Industries 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.

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FACB Industries Bhd Beneish M-Score Chart

FACB Industries Bhd Annual Data

Trend

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

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-2.66

-2.60

-2.02

-2.73

-2.45

FACB Industries Bhd Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-2.45	-

Competitive Comparison of FACB Industries Bhd's Beneish M-Score

For the Furnishings, Fixtures & Appliances subindustry, FACB Industries 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.

FACB Industries Bhd's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, FACB Industries Bhd's Beneish M-Score distribution charts can be found below:

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

FACB Industries 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 FACB Industries Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9164

0.528 * 0.9816

0.404 * 0.9634

0.892 * 0.9825

0.115 * 0.9856

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0349

4.679 * 0.026855

0.327 * 0.8969

-2.45

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was RM5.62 Mil.
Revenue was RM45.74 Mil.
Gross Profit was RM18.90 Mil.
Total Current Assets was RM174.12 Mil.
Total Assets was RM243.90 Mil.
Property, Plant and Equipment(Net PPE) was RM4.45 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.45 Mil.
Selling, General, & Admin. Expense(SGA) was RM17.94 Mil.
Total Current Liabilities was RM8.94 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.48 Mil.
Net Income was RM6.82 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM0.27 Mil.

Total Receivables was RM6.24 Mil.
Revenue was RM46.55 Mil.
Gross Profit was RM18.89 Mil.
Total Current Assets was RM169.97 Mil.
Total Assets was RM241.43 Mil.
Property, Plant and Equipment(Net PPE) was RM4.34 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.38 Mil.
Selling, General, & Admin. Expense(SGA) was RM17.64 Mil.
Total Current Liabilities was RM10.16 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.23 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)
	=	(5.62 / 45.737)	/	(6.242 / 46.553)
	=	0.122876	/	0.134084
	=	0.9164

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)
	=	(18.887 / 46.553)	/	(18.903 / 45.737)
	=	0.40571	/	0.413298
	=	0.9816

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 - (174.118 + 4.453) / 243.901)	/	(1 - (169.969 + 4.335) / 241.426)
	=	0.267855	/	0.278023
	=	0.9634

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
	=	45.737	/	46.553
	=	0.9825

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))
	=	(1.38 / (1.38 + 4.335))	/	(1.445 / (1.445 + 4.453))
	=	0.24147	/	0.244998
	=	0.9856

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)
	=	(17.94 / 45.737)	/	(17.644 / 46.553)
	=	0.392243	/	0.379009
	=	1.0349

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)
	=	((0.475 + 8.942) / 243.901)	/	((0.229 + 10.164) / 241.426)
	=	0.03861	/	0.043048
	=	0.8969

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
	=	(6.821 - 0	-	0.271)	/	243.901
	=	0.026855

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.

FACB Industries Bhd has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.

FACB Industries Bhd Beneish M-Score Related Terms

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FACB Industries Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » FACB Industries Inc Bhd (XKLS:2984) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Etiqa Twins, Tower 1, 11 Jalan Pinang, Level 13, Kuala Lumpur, MYS, 50450

Website

http://www.facbi.com

FACB Industries Inc Bhd is an investment holding company. The company through its subsidiaries is in the manufacturing and sale of butt-weld fittings, mattresses, bedding related products and furniture and investments in China. The group comprises the following two reportable operating segments: Bedding; and Other operations. Bedding is involved in manufacturing and marketing of mattresses, bedding related products and furniture; and Other operations is an investment holding, provision of management and secretarial services and production and marketing of steam. The company generates maximum revenue from Bedding segment. Geographically, it operates in Asia (excluding Malaysia) and Malaysia, where Malaysia generates maximum revenue.

FACB Industries Bhd Headlines

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