Hock Soon Capital Bhd (XKLS:5346) Beneish M-Score: -2.27 (As of Jul. 12, 2026)


XKLS:5346 Hock Soon Capital Bhd XKLS:5346
21 GF Score
Price RM0.33
! 4 Warning Signs
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What is Hock Soon Capital Bhd Beneish M-Score?

Hock Soon Capital Bhd XKLS:5346 +4.84% 21 Beneish M-Score is -2.27 as of Jul. 12, 2026. GuruFocus rates XKLS:5346 with a GF Score™ of 21/100. The stock has 4 warning signs investors should review. Among 1,851 Consumer Packaged Goods companies, Hock Soon Capital Bhd ranks worse than 67.91% 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 -2.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5346' s Beneish M-Score Range Over the Past 10 Years
Min: -2.94   Med: -2.61   Max: -2.27
Current: -2.27

During the past 4 years, the highest Beneish M-Score of Hock Soon Capital Bhd was -2.27. The lowest was -2.94. And the median was -2.61.

Hock Soon Capital Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hock Soon Capital 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.

Hock Soon Capital Bhd Beneish M-Score Chart

Hock Soon Capital Bhd Annual Data
Trend Sep22 Sep23 Sep24 Sep25
Beneish M-Score
0.00 0.00 -2.94 -2.27

Hock Soon Capital Bhd Semi-Annual Data
Sep22 Sep23 Sep24 Sep25 Mar26
Beneish M-Score 0.00 0.00 -2.94 -2.27 0.00

XKLS:5346 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Hock Soon Capital 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.

Hock Soon Capital Bhd Beneish M-Score vs Consumer Packaged Goods Industry

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

* The bar in red indicates where Hock Soon Capital Bhd's Beneish M-Score falls into.


XKLS:5346
21GF Score
Hock Soon Capital Bhd XKLS:5346
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hock Soon Capital 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 Hock Soon Capital 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 * 1.4435+0.528 * 0.9515+0.404 * 0.6434+0.892 * 0.9738+0.115 * 1.2098
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5218+4.679 * 0.040037-0.327 * 1.3854
=-2.27

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was RM8.02 Mil.
Revenue was RM147.41 Mil.
Gross Profit was RM60.21 Mil.
Total Current Assets was RM180.41 Mil.
Total Assets was RM245.30 Mil.
Property, Plant and Equipment(Net PPE) was RM56.49 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.85 Mil.
Selling, General, & Admin. Expense(SGA) was RM6.62 Mil.
Total Current Liabilities was RM11.47 Mil.
Long-Term Debt & Capital Lease Obligation was RM18.93 Mil.
Net Income was RM41.96 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM32.14 Mil.
 Total Receivables was RM5.71 Mil.
Revenue was RM151.38 Mil.
Gross Profit was RM58.83 Mil.
Total Current Assets was RM126.77 Mil.
Total Assets was RM172.38 Mil.
Property, Plant and Equipment(Net PPE) was RM36.44 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.25 Mil.
Selling, General, & Admin. Expense(SGA) was RM4.47 Mil.
Total Current Liabilities was RM10.76 Mil.
Long-Term Debt & Capital Lease Obligation was RM4.66 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)
=(8.021 / 147.413) / (5.706 / 151.377)
=0.054412 / 0.037694
=1.4435

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)
=(58.828 / 151.377) / (60.205 / 147.413)
=0.388619 / 0.40841
=0.9515

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 - (180.411 + 56.492) / 245.301) / (1 - (126.766 + 36.437) / 172.375)
=0.034235 / 0.05321
=0.6434

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
=147.413 / 151.377
=0.9738

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))
=(2.246 / (2.246 + 36.437)) / (2.848 / (2.848 + 56.492))
=0.058062 / 0.047995
=1.2098

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)
=(6.617 / 147.413) / (4.465 / 151.377)
=0.044887 / 0.029496
=1.5218

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)
=((18.933 + 11.472) / 245.301) / ((4.664 + 10.758) / 172.375)
=0.12395 / 0.089468
=1.3854

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
=(41.963 - 0 - 32.142) / 245.301
=0.040037

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.

Hock Soon Capital Bhd has a M-score of -2.27 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 -2.27 mean?
Hock Soon Capital Bhd (XKLS:5346) has a Beneish M-Score of -2.27 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hock Soon Capital Bhd and its competitors. According to the industry distribution chart, Hock Soon Capital Bhd ranks #1257 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 67.9%.
Is Hock Soon Capital Bhd's Beneish M-Score too high?
Hock Soon Capital Bhd's current Beneish M-Score is -2.27. Based on the distribution chart, Hock Soon Capital Bhd ranks #1257 out of 1851 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Hock Soon Capital Bhd has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Hock Soon Capital Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Hock Soon Capital Bhd ranks #1257 out of 1851 companies for Beneish M-Score. This places Hock Soon Capital 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Hock Soon Capital Bhd and its competitors. Hock Soon Capital Bhd's current Beneish M-Score is -2.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hock Soon Capital Bhd stock overvalued right now?
Hock Soon Capital Bhd (XKLS:5346) has a current Beneish M-Score of -2.27. The current Beneish M-Score is -2.27. Hock Soon Capital Bhd's overall GF Score™ is 21/100 with 4 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 Hock Soon Capital Bhd (XKLS:5346), the current Beneish M-Score is -2.27 as of Jul. 12, 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.

Hock Soon Capital Bhd Business Description

Address Batu 4, Jalan Sungkai, Bidor, Batu, PRK, MYS, 35500
Hock Soon Capital Bhd is engaged in poultry farming. The company is engaged in raising chickens to produce and sell table eggs. The company offer both ordinary eggs with basic nutrition and premium eggs enriched with added nutrients, sold under QPlus or customers own brands.
21GF Score

Get the complete analysis for XKLS:5346

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

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