Eastern & Oriental Bhd (XKLS:3417) Beneish M-Score: -1.92 (As of Jun. 26, 2026)

What is Eastern & Oriental Bhd Beneish M-Score?

Eastern & Oriental Bhd XKLS:3417 -1.39% 85 Beneish M-Score is -1.92 as of Jun. 26, 2026. GuruFocus rates XKLS:3417 with a GF Score™ of 85/100 and a GF Value™ of RM1.12 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,682 Real Estate companies, Eastern & Oriental Bhd ranks worse than 70.39% 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 -1.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:3417' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32 Med: -1.89 Max: 0.21
Current: -1.92

During the past 13 years, the highest Beneish M-Score of Eastern & Oriental Bhd was 0.21. The lowest was -3.32. And the median was -1.89.

Eastern & Oriental Bhd Beneish M-Score Related Terms

Eastern & Oriental Bhd Beneish M-Score Historical Data

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The historical data trend for Eastern & Oriental 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.

Eastern & Oriental Bhd Beneish M-Score Chart

Eastern & Oriental Bhd Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-3.23

-1.86

0.21

-0.18

-1.92

Eastern & Oriental Bhd Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-0.18	-0.36	-0.75	-0.54	-1.92

Eastern & Oriental Bhd Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Eastern & Oriental 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.

Eastern & Oriental Bhd Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Eastern & Oriental Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Eastern & Oriental Bhd's Beneish M-Score falls into.

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85GF Score

Eastern & Oriental Bhd XKLS:3417

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Eastern & Oriental 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 Eastern & Oriental 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 * 1.0725

0.528 * 0.9032

0.404 * 0.9795

0.892 * 1.1708

0.115 * 0.9614

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7952

4.679 * 0.087966

0.327 * 1.1223

-1.92

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was RM261.1 Mil.
Revenue was 235.851 + 243.919 + 204.364 + 183.509 = RM867.6 Mil.
Gross Profit was 103.336 + 123.318 + 89.824 + 80.772 = RM397.3 Mil.
Total Current Assets was RM1,553.5 Mil.
Total Assets was RM5,633.1 Mil.
Property, Plant and Equipment(Net PPE) was RM210.4 Mil.
Depreciation, Depletion and Amortization(DDA) was RM22.4 Mil.
Selling, General, & Admin. Expense(SGA) was RM62.3 Mil.
Total Current Liabilities was RM1,150.8 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,835.3 Mil.
Net Income was 62.045 + 63.512 + 50.238 + 45.418 = RM221.2 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 82.931 + -283.093 + -25.132 + -49.015 = RM-274.3 Mil.

Total Receivables was RM207.9 Mil.
Revenue was 236.655 + 167.743 + 171.03 + 165.654 = RM741.1 Mil.
Gross Profit was 68.861 + 78.598 + 80.586 + 78.427 = RM306.5 Mil.
Total Current Assets was RM1,139.7 Mil.
Total Assets was RM4,575.2 Mil.
Property, Plant and Equipment(Net PPE) was RM227.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM23.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM66.9 Mil.
Total Current Liabilities was RM672.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,489.0 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)
	=	(261.058 / 867.643)	/	(207.909 / 741.082)
	=	0.300882	/	0.280548
	=	1.0725

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)
	=	(306.472 / 741.082)	/	(397.25 / 867.643)
	=	0.413547	/	0.45785
	=	0.9032

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 - (1553.473 + 210.351) / 5633.137)	/	(1 - (1139.734 + 227.012) / 4575.175)
	=	0.686884	/	0.701269
	=	0.9795

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
	=	867.643	/	741.082
	=	1.1708

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))
	=	(23.16 / (23.16 + 227.012))	/	(22.413 / (22.413 + 210.351))
	=	0.092576	/	0.096291
	=	0.9614

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)
	=	(62.312 / 867.643)	/	(66.928 / 741.082)
	=	0.071818	/	0.090311
	=	0.7952

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)
	=	((1835.328 + 1150.78) / 5633.137)	/	((1488.993 + 672.078) / 4575.175)
	=	0.530097	/	0.472347
	=	1.1223

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
	=	(221.213 - 0	-	-274.309)	/	5633.137
	=	0.087966

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.

Eastern & Oriental Bhd has a M-score of -1.92 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 -1.92 mean?

Eastern & Oriental Bhd (XKLS:3417) has a Beneish M-Score of -1.92 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Eastern & Oriental Bhd and its competitors. According to the industry distribution chart, Eastern & Oriental Bhd ranks #1184 out of 1682 companies in the Real Estate industry, placing it in the top 70.4%.

Is Eastern & Oriental Bhd's Beneish M-Score too high?

Eastern & Oriental Bhd's current Beneish M-Score is -1.92. Based on the distribution chart, Eastern & Oriental Bhd ranks #1184 out of 1682 companies in the Real Estate industry, which is below the industry midpoint. Overall, Eastern & Oriental Bhd has a GF Score™ of 85/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Eastern & Oriental Bhd's Beneish M-Score compare to competitors?

According to the Real Estate industry distribution chart, Eastern & Oriental Bhd ranks #1184 out of 1682 companies for Beneish M-Score. This places Eastern & Oriental 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 Real Estate company?

A good Beneish M-Score depends on the Real Estate 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 Eastern & Oriental Bhd and its competitors. Eastern & Oriental Bhd's current Beneish M-Score is -1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Eastern & Oriental Bhd stock overvalued right now?

Based on GuruFocus' analysis, Eastern & Oriental Bhd (XKLS:3417) is currently considered Possible Value Trap. The stock's GF Value™ is RM1.12, compared to a current price of RM0.71 — trading 36.6% below its estimated fair value. The current Beneish M-Score is -1.92. Eastern & Oriental Bhd's overall GF Score™ is 85/100 with 3 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 Eastern & Oriental Bhd (XKLS:3417), the current Beneish M-Score is -1.92 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 Eastern & Oriental Bhd (XKLS:3417) Overvalued in 2026?

Based on GuruFocus' analysis, Eastern & Oriental Bhd stock appears to be undervalued. The current stock price of RM0.71 is trading 36.6% below its estimated GF Value™ of RM1.12. GuruFocus considers Eastern & Oriental Bhd to be Possible Value Trap.

Key valuation signals for XKLS:3417:

Beneish M-Score: -1.92
GF Value™: RM1.12 vs. price of RM0.71 (36.6% below fair value)
GF Score™: 85/100 with 3 warning signs

No single metric tells the full story. See the XKLS:3417 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Eastern & Oriental Bhd Business Description

Industry Real Estate Real Estate

Comparable Companies XKLS:9687 XKLS:7195 XKLS:5313 XKLS:5236 XKLS:8583 XKLS:5401 XKLS:7105 XKLS:6114 XKLS:5148 XKLS:6718 HKSE:00016 HKSE:01109 DFM:EMAAR STC:VHM HKSE:00688 HKSE:01113 TSE:1925 ADX:ALDAR SGX:H78 DFM:EMAARDEV

Address No. 137, Jalan Puchong, C-34-01, Menara Vista Petaling, Kuala Lumpur, SGR, MYS, 58200

Website https://www.easternandoriental.com

Eastern & Oriental Bhd is a property developer based in Malaysia. Its property development portfolio is spread across Kuala Lumpur, Penang, and Johor's Iskandar Malaysia, and overseas in central London. The Group's hospitality division provides a complementary lifestyle component that supports the core property development business, including the heritage Eastern & Oriental Hotel and Lone Pine Hotel in Penang, as well as the contemporary E&O Residences Kuala Lumpur in the capital's vibrant city center. It has three segments Properties, Hospitality and Investments and others. The company generates the majority of its revenue from the Properties segment. Geographically the company derives revenue from Malaysia and the United Kingdom.

85GF Score

Get the complete analysis for XKLS:3417

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

RM0.71

Price

RM1.12

GF Value

View XKLS:3417 Analysis

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