LBS Bina Group Bhd (XKLS:5789) Beneish M-Score: -2.43 (As of Jun. 26, 2026)

What is LBS Bina Group Bhd Beneish M-Score?

LBS Bina Group Bhd XKLS:5789 65 Beneish M-Score is -2.43 as of Jun. 26, 2026. GuruFocus rates XKLS:5789 with a GF Score™ of 65/100 and a GF Value™ of RM0.51 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,682 Real Estate companies, LBS Bina Group Bhd ranks better than 54.88% 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 -2.43 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5789' s Beneish M-Score Range Over the Past 10 Years
Min: -3.3 Med: -2.45 Max: -1.66
Current: -2.43

During the past 13 years, the highest Beneish M-Score of LBS Bina Group Bhd was -1.66. The lowest was -3.30. And the median was -2.45.

LBS Bina Group Bhd Beneish M-Score Related Terms

LBS Bina Group Bhd Beneish M-Score Historical Data

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The historical data trend for LBS Bina Group 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.

LBS Bina Group Bhd Beneish M-Score Chart

LBS Bina Group Bhd Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.25

-2.54

-3.30

-2.36

-2.45

LBS Bina Group 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															-2.35	-2.12	-2.33	-2.45	-2.43

LBS Bina Group Bhd Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, LBS Bina Group 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.

LBS Bina Group Bhd Beneish M-Score vs Real Estate Industry

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

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

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65GF Score

LBS Bina Group Bhd XKLS:5789

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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LBS Bina Group 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 LBS Bina Group 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 * 0.9955

0.528 * 1.0721

0.404 * 0.9836

0.892 * 1.0669

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.819

4.679 * -0.015434

0.327 * 0.9812

-2.43

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was RM1,036 Mil.
Revenue was 296.516 + 462.306 + 452.253 + 309.841 = RM1,521 Mil.
Gross Profit was 100.76 + 156.907 + 112.777 + 107.219 = RM478 Mil.
Total Current Assets was RM2,273 Mil.
Total Assets was RM4,499 Mil.
Property, Plant and Equipment(Net PPE) was RM352 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM238 Mil.
Total Current Liabilities was RM1,215 Mil.
Long-Term Debt & Capital Lease Obligation was RM960 Mil.
Net Income was 17.029 + 40.626 + 29.279 + 27.084 = RM114 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was -87.596 + 128.934 + 64.963 + 77.153 = RM183 Mil.

Total Receivables was RM976 Mil.
Revenue was 329.196 + 287.137 + 377.393 + 431.852 = RM1,426 Mil.
Gross Profit was 108.112 + 116.799 + 120.377 + 134.728 = RM480 Mil.
Total Current Assets was RM2,288 Mil.
Total Assets was RM4,495 Mil.
Property, Plant and Equipment(Net PPE) was RM304 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM273 Mil.
Total Current Liabilities was RM1,246 Mil.
Long-Term Debt & Capital Lease Obligation was RM969 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)
	=	(1036.292 / 1520.916)	/	(975.749 / 1425.578)
	=	0.68136	/	0.684459
	=	0.9955

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)
	=	(480.016 / 1425.578)	/	(477.663 / 1520.916)
	=	0.336717	/	0.314063
	=	1.0721

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 - (2273.192 + 352.339) / 4498.955)	/	(1 - (2288.205 + 304.003) / 4495.176)
	=	0.416413	/	0.423336
	=	0.9836

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
	=	1520.916	/	1425.578
	=	1.0669

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 + 304.003))	/	(0 / (0 + 352.339))
	=	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)
	=	(238.412 / 1520.916)	/	(272.857 / 1425.578)
	=	0.156756	/	0.191401
	=	0.819

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)
	=	((960.141 + 1214.627) / 4498.955)	/	((968.704 + 1245.919) / 4495.176)
	=	0.483394	/	0.492667
	=	0.9812

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
	=	(114.018 - 0	-	183.454)	/	4498.955
	=	-0.015434

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.

LBS Bina Group Bhd has a M-score of -2.43 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 -2.43 mean?

LBS Bina Group Bhd (XKLS:5789) has a Beneish M-Score of -2.43 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on LBS Bina Group Bhd and its competitors. According to the industry distribution chart, LBS Bina Group Bhd ranks #759 out of 1682 companies in the Real Estate industry, placing it in the top 45.1%.

Is LBS Bina Group Bhd's Beneish M-Score too high?

LBS Bina Group Bhd's current Beneish M-Score is -2.43. Based on the distribution chart, LBS Bina Group Bhd ranks #759 out of 1682 companies in the Real Estate industry, which is above the industry midpoint. Overall, LBS Bina Group Bhd has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does LBS Bina Group Bhd's Beneish M-Score compare to competitors?

According to the Real Estate industry distribution chart, LBS Bina Group Bhd ranks #759 out of 1682 companies for Beneish M-Score. This puts LBS Bina Group 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 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 LBS Bina Group Bhd and its competitors. LBS Bina Group Bhd's current Beneish M-Score is -2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is LBS Bina Group Bhd stock overvalued right now?

Based on GuruFocus' analysis, LBS Bina Group Bhd (XKLS:5789) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.51, compared to a current price of RM0.42 — trading 18.6% below its estimated fair value. The current Beneish M-Score is -2.43. LBS Bina Group Bhd's overall GF Score™ is 65/100 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 LBS Bina Group Bhd (XKLS:5789), the current Beneish M-Score is -2.43 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 LBS Bina Group Bhd (XKLS:5789) Overvalued in 2026?

Based on GuruFocus' analysis, LBS Bina Group Bhd stock appears to be undervalued. The current stock price of RM0.42 is trading 18.6% below its estimated GF Value™ of RM0.51. GuruFocus considers LBS Bina Group Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:5789:

Beneish M-Score: -2.43
GF Value™: RM0.51 vs. price of RM0.42 (18.6% below fair value)
GF Score™: 65/100 with 5 warning signs

No single metric tells the full story. See the XKLS:5789 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

LBS Bina Group Bhd Business Description

Industry Real Estate Real Estate

Comparable Companies XKLS:3611 XKLS:1503 XKLS:1724 XKLS:5075 XKLS:5827 XKLS:2305 XKLS:1287 XKLS:0273 XKLS:3174 XKLS:0308 HKSE:00016 HKSE:01109 DFM:EMAAR STC:VHM HKSE:00688 HKSE:01113 TSE:1925 ADX:ALDAR SGX:H78 DFM:EMAARDEV

Other Exchanges 5789PA.PFD:Malaysia

Address No. 1 Jalan SS9/2, Plaza Seri Setia Level 1-4, Petaling Jaya, SGR, MYS, 47300

Website https://www.lbs.com.my

LBS Bina Group Bhd is engaged in investment holding, property development, investment and management, construction and trading, manufacturing of precast concrete products, hotel and retail mall operations, financial and credit-related services, racing circuit development and management, energy and water-related investment activities, hospital and agricultural activities. Its segments include Property development, Construction and trading, Management and investment, Hotel, and Others. The majority of the revenue is derived from the Property Development segment, which develops residential, industrial and commercial properties. Geographically, it operates in Malaysia and Saudi.

65GF Score

Get the complete analysis for XKLS:5789

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

RM0.42

Price

RM0.51

GF Value

View XKLS:5789 Analysis

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