Orkim Bhd (XKLS:5348) Beneish M-Score: -3.07 (As of Jul. 03, 2026)


XKLS:5348 Orkim Bhd XKLS:5348
14 GF Score
Price RM0.88
! 3 Warning Signs
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What is Orkim Bhd Beneish M-Score?

Orkim Bhd XKLS:5348 -0.57% 14 Beneish M-Score is -3.07 as of Jul. 03, 2026. GuruFocus rates XKLS:5348 with a GF Score™ of 14/100. The stock has 3 warning signs investors should review. Among 964 Transportation companies, Orkim Bhd ranks better than 86.72% 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 -3.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5348' s Beneish M-Score Range Over the Past 10 Years
Min: -3.07   Med: -3.02   Max: -2.96
Current: -3.07

During the past 4 years, the highest Beneish M-Score of Orkim Bhd was -2.96. The lowest was -3.07. And the median was -3.02.

Orkim Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Orkim 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.

Orkim Bhd Beneish M-Score Chart

Orkim Bhd Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.96 -3.07

Orkim Bhd Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.96 0.00 -3.07

Orkim Bhd Beneish M-Score Competitor Comparison

For the Marine Shipping subindustry, Orkim 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.

Orkim Bhd Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Orkim Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:5348
14GF Score
Orkim Bhd XKLS:5348
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Orkim 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 Orkim 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 * 1.058+0.528 * 1.0702+0.404 * 0.8184+0.892 * 0.9787+0.115 * 0.9747
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.0462+4.679 * -0.079491-0.327 * 1.1137
=-3.07

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was RM25.9 Mil.
Revenue was RM309.9 Mil.
Gross Profit was RM105.0 Mil.
Total Current Assets was RM240.8 Mil.
Total Assets was RM1,102.7 Mil.
Property, Plant and Equipment(Net PPE) was RM861.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM67.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM19.1 Mil.
Total Current Liabilities was RM93.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM386.3 Mil.
Net Income was RM76.2 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM163.8 Mil.
 Total Receivables was RM25.0 Mil.
Revenue was RM316.6 Mil.
Gross Profit was RM114.8 Mil.
Total Current Assets was RM123.2 Mil.
Total Assets was RM893.0 Mil.
Property, Plant and Equipment(Net PPE) was RM768.9 Mil.
Depreciation, Depletion and Amortization(DDA) was RM58.9 Mil.
Selling, General, & Admin. Expense(SGA) was RM9.5 Mil.
Total Current Liabilities was RM91.7 Mil.
Long-Term Debt & Capital Lease Obligation was RM257.4 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)
=(25.902 / 309.85) / (25.014 / 316.589)
=0.083595 / 0.079011
=1.058

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)
=(114.779 / 316.589) / (104.972 / 309.85)
=0.362549 / 0.338783
=1.0702

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 - (240.765 + 860.989) / 1102.684) / (1 - (123.191 + 768.905) / 893.016)
=0.000843 / 0.00103
=0.8184

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
=309.85 / 316.589
=0.9787

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))
=(58.897 / (58.897 + 768.905)) / (67.799 / (67.799 + 860.989))
=0.071149 / 0.072997
=0.9747

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)
=(19.081 / 309.85) / (9.528 / 316.589)
=0.061581 / 0.030096
=2.0462

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)
=((386.317 + 93.638) / 1102.684) / ((257.36 + 91.65) / 893.016)
=0.435261 / 0.390822
=1.1137

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
=(76.173 - 0 - 163.827) / 1102.684
=-0.079491

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.

Orkim Bhd has a M-score of -3.07 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 -3.07 mean?
Orkim Bhd (XKLS:5348) has a Beneish M-Score of -3.07 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Orkim Bhd and its competitors. According to the industry distribution chart, Orkim Bhd ranks #128 out of 964 companies in the Transportation industry, placing it in the top 13.3%.
Is Orkim Bhd's Beneish M-Score too high?
Orkim Bhd's current Beneish M-Score is -3.07. Based on the distribution chart, Orkim Bhd ranks #128 out of 964 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Orkim Bhd has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Orkim Bhd's Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, Orkim Bhd ranks #128 out of 964 companies for Beneish M-Score. This places Orkim Bhd in the top 13% of its industry — outperforming the majority of peers. 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Orkim Bhd and its competitors. Orkim Bhd's current Beneish M-Score is -3.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Orkim Bhd stock overvalued right now?
Orkim Bhd (XKLS:5348) has a current Beneish M-Score of -3.07. The current Beneish M-Score is -3.07. Orkim Bhd's overall GF Score™ is 14/100 with 3 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 Orkim Bhd (XKLS:5348), the current Beneish M-Score is -3.07 as of Jul. 03, 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.

Orkim Bhd Business Description

Address No. 12, Jalan PJU 7/3, Level 15, Menara TSR, Mutiara Damansara, Petaling jaya, SGR, MYS, 47810
Orkim Bhd is an owner-operator of CPP and LPG tankers, providing marine transportation services for CPP and LPG products. The CPP business model focuses on chartering and freighting with clients that are mainly oil majors or product owners, and carries various CPP, such as, gasoline, naphtha, jet fuel, kerosene, diesel, pygas, base oil, and others. This segment also includes the provision of ship broking services. While in the LPG segment business model, the vessels are pressurised gas carriers and can carry up to 3.5 kilo cubic metre of LPG, Butadiene, Propane, Butane or C4 raffinate.
14GF Score

Get the complete analysis for XKLS:5348

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

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