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.
Warning Sign:
Beneish M-Score 1.76 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for WTK Holdings Bhd's Beneish M-Score or its related term are showing as below:
XKLS:4243'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.33 Med: -2.74 Max: 1.76
Current: 1.76
During the past 13 years, the highest Beneish M-Score of WTK Holdings Bhd was 1.76. The lowest was -6.33. And the median was -2.74.
WTK Holdings Bhd Beneish M-Score Related Terms
WTK Holdings Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for WTK Holdings 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 Conglomerates subindustry, WTK Holdings 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.
WTK Holdings Bhd Beneish M-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, WTK Holdings Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WTK Holdings 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 WTK Holdings 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 * 4.3411
+
0.528 * 0.6924
+
0.404 * 3.0738
+
0.892 * 0.8242
+
0.115 * 0.9293
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6605
+
4.679 * 0.118139
-
0.327 * 0.8649
=
1.76
* 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))
=
(63.087 / (63.087 + 934.784))
/
(58.347 / (58.347 + 799.313))
=
0.063222
/
0.06803
=
0.9293
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
=
(67.268 - 0
-
-94.42)
/
1368.628
=
0.118139
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.
WTK Holdings Bhd has a M-score of 1.76 signals that the company is likely to be a manipulator.
WTK Holdings Bhd (XKLS:4243) has a Beneish M-Score of 1.76 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on WTK Holdings Bhd and its competitors. According to the industry distribution chart, WTK Holdings Bhd ranks #524 out of 538 companies in the Conglomerates industry, placing it in the top 97.4%.
Is WTK Holdings Bhd's Beneish M-Score too high?
WTK Holdings Bhd's current Beneish M-Score is 1.76. Based on the distribution chart, WTK Holdings Bhd ranks #524 out of 538 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, WTK Holdings Bhd has a GF Score™ of 29/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WTK Holdings Bhd's Beneish M-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, WTK Holdings Bhd ranks #524 out of 538 companies for Beneish M-Score. This places WTK Holdings 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 Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 WTK Holdings Bhd and its competitors. WTK Holdings Bhd's current Beneish M-Score is 1.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WTK Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, WTK Holdings Bhd (XKLS:4243) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.48, compared to a current price of RM0.76 — trading 58.3% above its estimated fair value. The current Beneish M-Score is 1.76. WTK Holdings Bhd's overall GF Score™ is 29/100 with 12 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 WTK Holdings Bhd (XKLS:4243), the current Beneish M-Score is 1.76 as of Jun. 25, 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 WTK Holdings Bhd (XKLS:4243) Overvalued in 2026?
Based on GuruFocus' analysis, WTK Holdings Bhd stock appears to be overvalued.
The current stock price of RM0.76 is trading 58.3% above its estimated GF Value™ of RM0.48.
GuruFocus considers WTK Holdings Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:4243:
Beneish M-Score: 1.76
GF Value™: RM0.48 vs. price of RM0.76 (58.3% above fair value)
No single metric tells the full story. See the XKLS:4243 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WTK Holdings Bhd is an investment holding company. It is diversified group with three core business, plantation, food and tapes. It has five reportable segments Plantation includes cultivation of oil palm, production and sales of crude palm oil and palm kernel; Food includes sales of frozen, chill and consumer products and food catering services; Tapes includes manufacture, sales of adhesive and gummed tapes and the trading of tapes, foil, papers and electrostatic discharge products; Timber includes the extraction and sale of timber, manufacture and sale of plywood, veneer and sawn timber and reforestation; Investment holding and others includes rental income, interest income and amusement, of which majority of sales is from Plantation. It generates majority of revenue from Malaysia.
29GF Score
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