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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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Luxchem Bhd's Beneish M-Score or its related term are showing as below:
XKLS:5143'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.2 Med: -2.47 Max: 5.69
Current: -2.58
During the past 13 years, the highest Beneish M-Score of Luxchem Bhd was 5.69. The lowest was -3.20. And the median was -2.47.
Luxchem Bhd Beneish M-Score Related Terms
Luxchem Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Luxchem 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 Chemicals subindustry, Luxchem 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.
Luxchem Bhd Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Luxchem Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Luxchem 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 Luxchem 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 * 1.094
+
0.528 * 0.9385
+
0.404 * 0.9918
+
0.892 * 0.8948
+
0.115 * 1.2825
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1459
+
4.679 * -0.030371
-
0.327 * 0.7563
=
-2.58
* 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))
=
(13.493 / (13.493 + 128.953))
/
(13.863 / (13.863 + 173.828))
=
0.094724
/
0.073861
=
1.2825
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
=
(44.479 - 0
-
68.406)
/
787.833
=
-0.030371
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.
Luxchem Bhd has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
Luxchem Bhd (XKLS:5143) has a Beneish M-Score of -2.58 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Luxchem Bhd and its competitors. According to the industry distribution chart, Luxchem Bhd ranks #671 out of 1525 companies in the Chemicals industry, placing it in the top 44%.
Is Luxchem Bhd's Beneish M-Score too high?
Luxchem Bhd's current Beneish M-Score is -2.58. Based on the distribution chart, Luxchem Bhd ranks #671 out of 1525 companies in the Chemicals industry, which is above the industry midpoint. Overall, Luxchem Bhd has a GF Score™ of 52/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Luxchem Bhd's Beneish M-Score compare to DOW?
According to the Chemicals industry distribution chart, Luxchem Bhd ranks #671 out of 1525 companies for Beneish M-Score. This puts Luxchem Bhd in the upper 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Luxchem Bhd and its competitors. Luxchem Bhd's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Luxchem Bhd stock overvalued right now?
Based on GuruFocus' analysis, Luxchem Bhd (XKLS:5143) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.46, compared to a current price of RM0.41 — trading 10.9% below its estimated fair value. The current Beneish M-Score is -2.58. Luxchem Bhd's overall GF Score™ is 52/100 with 2 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 Luxchem Bhd (XKLS:5143), the current Beneish M-Score is -2.58 as of Jul. 14, 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 Luxchem Bhd (XKLS:5143) Overvalued in 2026?
Based on GuruFocus' analysis, Luxchem Bhd stock appears to be undervalued.
The current stock price of RM0.41 is trading 10.9% below its estimated GF Value™ of RM0.46.
GuruFocus considers Luxchem Bhd to be Modestly Undervalued.
Key valuation signals for XKLS:5143:
Beneish M-Score: -2.58
GF Value™: RM0.46 vs. price of RM0.41 (10.9% below fair value)
No single metric tells the full story. See the XKLS:5143 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Luxchem Corp Bhd is a Malaysia-based company engaged in the import, export, and distribution of petrochemical and other related products globally. It operates through two reportable segments, namely Trading and Manufacturing. Maximum revenue is generated from the Trading segment, which is engaged in the import, export, and distribution of petrochemical and other related products, and in the trading of hardware and other materials required for interior decoration, construction, and development. The Manufacturing segment is involved in the manufacturing and trading of unsaturated polyester resin, latex chemical dispersions, latex processing chemicals, former cleaning, powder-free coagulant, and related products. Geographically, the Group derives maximum revenue from Malaysia.
52GF Score
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