Uoa Development Bhd (XKLS:5200) Beneish M-Score: -2.11 (As of Jun. 26, 2026)


XKLS:5200 Uoa Development Bhd XKLS:5200
88 GF Score
Price RM1.82
GF Value RM2.17
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Uoa Development Bhd Beneish M-Score?

Uoa Development Bhd XKLS:5200 -1.09% 88 Beneish M-Score is -2.11 as of Jun. 26, 2026. GuruFocus rates XKLS:5200 with a GF Score™ of 88/100 and a GF Value™ of RM2.17 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,682 Real Estate companies, Uoa Development Bhd ranks worse than 64.68% 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 -2.11 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5200' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26   Med: -2.33   Max: -1.13
Current: -2.11

During the past 13 years, the highest Beneish M-Score of Uoa Development Bhd was -1.13. The lowest was -3.26. And the median was -2.33.

Uoa Development Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Uoa Development 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.

Uoa Development Bhd Beneish M-Score Chart

Uoa Development Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.06 -3.26 -2.92 -1.34 -2.31

Uoa Development 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.51 -1.70 -1.76 -2.31 -2.11

Uoa Development Bhd Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Uoa Development 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.

Uoa Development Bhd Beneish M-Score vs Real Estate Industry

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

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


XKLS:5200
88GF Score
Uoa Development Bhd XKLS:5200
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Uoa Development 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 Uoa Development 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 * 1.1226+0.528 * 0.8856+0.404 * 1.1732+0.892 * 1.0135+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1009+4.679 * 0.050216-0.327 * 0.9376
=-2.11

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM305.7 Mil.
Revenue was 113.855 + 174.72 + 217.3 + 130.163 = RM636.0 Mil.
Gross Profit was 35.144 + 61.993 + 99.928 + 65.074 = RM262.1 Mil.
Total Current Assets was RM3,431.1 Mil.
Total Assets was RM6,715.8 Mil.
Property, Plant and Equipment(Net PPE) was RM373.6 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM211.4 Mil.
Total Current Liabilities was RM461.4 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.1 Mil.
Net Income was 41.941 + 192.756 + 115.63 + 91.708 = RM442.0 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 11.751 + 85.444 + 27.737 + -20.138 = RM104.8 Mil.
 Total Receivables was RM268.7 Mil.
Revenue was 152.103 + 234.862 + 141.366 + 99.217 = RM627.5 Mil.
Gross Profit was 60.869 + 87.792 + 43.227 + 37.168 = RM229.1 Mil.
Total Current Assets was RM3,680.8 Mil.
Total Assets was RM6,439.5 Mil.
Property, Plant and Equipment(Net PPE) was RM379.3 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM189.5 Mil.
Total Current Liabilities was RM471.5 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.4 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)
=(305.715 / 636.038) / (268.7 / 627.548)
=0.480655 / 0.428174
=1.1226

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)
=(229.056 / 627.548) / (262.139 / 636.038)
=0.365002 / 0.412144
=0.8856

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 - (3431.072 + 373.622) / 6715.806) / (1 - (3680.845 + 379.34) / 6439.508)
=0.433472 / 0.369488
=1.1732

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
=636.038 / 627.548
=1.0135

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))
=(0 / (0 + 379.34)) / (0 / (0 + 373.622))
=0 / 0
=1

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)
=(211.438 / 636.038) / (189.501 / 627.548)
=0.33243 / 0.301971
=1.1009

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)
=((1.082 + 461.367) / 6715.806) / ((1.437 + 471.497) / 6439.508)
=0.06886 / 0.073443
=0.9376

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
=(442.035 - 0 - 104.794) / 6715.806
=0.050216

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.

Uoa Development Bhd has a M-score of -2.11 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 -2.11 mean?
Uoa Development Bhd (XKLS:5200) has a Beneish M-Score of -2.11 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Uoa Development Bhd and its competitors. According to the industry distribution chart, Uoa Development Bhd ranks #1088 out of 1682 companies in the Real Estate industry, placing it in the top 64.7%.
Is Uoa Development Bhd's Beneish M-Score too high?
Uoa Development Bhd's current Beneish M-Score is -2.11. Based on the distribution chart, Uoa Development Bhd ranks #1088 out of 1682 companies in the Real Estate industry, which is below the industry midpoint. Overall, Uoa Development Bhd has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Uoa Development Bhd's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Uoa Development Bhd ranks #1088 out of 1682 companies for Beneish M-Score. This places Uoa Development 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 Uoa Development Bhd and its competitors. Uoa Development Bhd's current Beneish M-Score is -2.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Uoa Development Bhd stock overvalued right now?
Based on GuruFocus' analysis, Uoa Development Bhd (XKLS:5200) is currently considered Modestly Undervalued. The stock's GF Value™ is RM2.17, compared to a current price of RM1.82 — trading 16.1% below its estimated fair value. The current Beneish M-Score is -2.11. Uoa Development Bhd's overall GF Score™ is 88/100 with 5 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 Uoa Development Bhd (XKLS:5200), the current Beneish M-Score is -2.11 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 Uoa Development Bhd (XKLS:5200) Overvalued in 2026?

Based on GuruFocus' analysis, Uoa Development Bhd stock appears to be undervalued. The current stock price of RM1.82 is trading 16.1% below its estimated GF Value™ of RM2.17. GuruFocus considers Uoa Development Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:5200:

  • Beneish M-Score: -2.11
  • GF Value™: RM2.17 vs. price of RM1.82 (16.1% below fair value)
  • GF Score™: 88/100 with 5 warning signs

No single metric tells the full story. See the XKLS:5200 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Uoa Development Bhd Business Description

Address No. 8, Jalan Kerinchi, Avenue 10, Suite G-1, Vertical Corporate Tower B, The Vertical Bangsar South City, Kuala Lumpur, MYS, 59200
UOA Development Bhd is an investment holding company based in Malaysia. Along with its subsidiaries, it mainly engages in property development. Its real estate projects cover both commercial and residential properties, predominantly in Malaysia. The group's reportable operating segments are: Property development, which focuses on building residential and commercial properties; Construction, which involves constructing residential and commercial properties; and Others, which include hospitality, healthcare, training services, and investing in properties for rental income, capital appreciation, or both. A majority of its revenue is generated from the Property development segment.
88GF Score

Get the complete analysis for XKLS:5200

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

RM1.82
Price
RM2.17
GF Value