Can-One Bhd (XKLS:5105) Beneish M-Score : -2.95 (As of Apr. 02, 2025)

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What is Can-One 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 -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5105' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.71 Max: -1.11
Current: -2.95

During the past 13 years, the highest Beneish M-Score of Can-One Bhd was -1.11. The lowest was -3.04. And the median was -2.71.

Can-One Bhd Beneish M-Score Historical Data

The historical data trend for Can-One 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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Can-One Bhd Beneish M-Score Chart

Can-One Bhd Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-1.11

-2.82

-2.87

-3.04

-2.95

Can-One Bhd Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-3.04	-3.14	-3.11	-2.94	-2.95

Competitive Comparison of Can-One Bhd's Beneish M-Score

For the Packaged Foods subindustry, Can-One 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.

Can-One Bhd's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Can-One Bhd's Beneish M-Score distribution charts can be found below:

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

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Can-One 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 Can-One 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 * 0.9618

0.528 * 1.0731

0.404 * 0.2013

0.892 * 1.0455

0.115 * 0.9664

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7761

4.679 * -0.048313

0.327 * 1.0067

-2.95

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was RM567 Mil.
Revenue was 840.623 + 793.464 + 762.391 + 796.125 = RM3,193 Mil.
Gross Profit was 67.952 + 64.557 + 86.547 + 103.327 = RM322 Mil.
Total Current Assets was RM1,735 Mil.
Total Assets was RM4,397 Mil.
Property, Plant and Equipment(Net PPE) was RM2,567 Mil.
Depreciation, Depletion and Amortization(DDA) was RM205 Mil.
Selling, General, & Admin. Expense(SGA) was RM188 Mil.
Total Current Liabilities was RM1,276 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,069 Mil.
Net Income was 52.155 + -100.536 + 3.123 + 25.674 = RM-20 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 254.965 + -100.848 + -16.938 + 55.673 = RM193 Mil.

Total Receivables was RM563 Mil.
Revenue was 859.283 + 728.443 + 705.445 + 760.62 = RM3,054 Mil.
Gross Profit was 113.103 + 67.252 + 73.52 + 77.034 = RM331 Mil.
Total Current Assets was RM1,775 Mil.
Total Assets was RM4,483 Mil.
Property, Plant and Equipment(Net PPE) was RM2,228 Mil.
Depreciation, Depletion and Amortization(DDA) was RM171 Mil.
Selling, General, & Admin. Expense(SGA) was RM232 Mil.
Total Current Liabilities was RM1,406 Mil.
Long-Term Debt & Capital Lease Obligation was RM970 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)
	=	(566.541 / 3192.603)	/	(563.451 / 3053.791)
	=	0.177454	/	0.184509
	=	0.9618

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)
	=	(330.909 / 3053.791)	/	(322.383 / 3192.603)
	=	0.10836	/	0.100978
	=	1.0731

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 - (1735.451 + 2566.945) / 4397.117)	/	(1 - (1775.432 + 2228.102) / 4483.226)
	=	0.021542	/	0.106997
	=	0.2013

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
	=	3192.603	/	3053.791
	=	1.0455

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))
	=	(171.09 / (171.09 + 2228.102))	/	(204.521 / (204.521 + 2566.945))
	=	0.071312	/	0.073795
	=	0.9664

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)
	=	(188.36 / 3192.603)	/	(232.155 / 3053.791)
	=	0.058999	/	0.076022
	=	0.7761

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)
	=	((1069.423 + 1275.986) / 4397.117)	/	((969.55 + 1405.931) / 4483.226)
	=	0.533397	/	0.52986
	=	1.0067

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
	=	(-19.584 - 0	-	192.852)	/	4397.117
	=	-0.048313

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.

Can-One Bhd has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.

Can-One Bhd Beneish M-Score Related Terms

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Can-One Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Can-One Bhd (XKLS:5105) » Definitions » Beneish M-Score

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Traded in Other Exchanges

N/A

Address

Jalan SS 6/6, Kelana Jaya, 2B-4, Level 4, Petaling Jaya, SGR, MYS, 47301

Website

https://www.canone.com.my

Can-One Bhd is an investment holding company. It operates through the following segments, 1) General packaging division - General cans (Tin cans, jerry cans and rigid packaging) segment 2) General packaging division - Aluminium cans segment, 3) General packaging division - Cartons segment, 4) Contract manufacturing division, 5) Trading division, 6) Property development and investment holding division. The company's geographical segments include Malaysia, Vietnam, Singapore, Myanmar, Indonesia and United States of America.

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