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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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Malaysia Smelting Bhd's Beneish M-Score or its related term are showing as below:
XKLS:5916'
s Beneish M-Score Range Over the Past 10 Years
Min: -33.47 Med: -2.82 Max: -0.94
Current: -2.59
During the past 13 years, the highest Beneish M-Score of Malaysia Smelting Bhd was -0.94. The lowest was -33.47. And the median was -2.82.
Malaysia Smelting Bhd Beneish M-Score Related Terms
Malaysia Smelting Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Malaysia Smelting 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.
Malaysia Smelting Bhd Beneish M-Score Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Malaysia Smelting 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.
Malaysia Smelting Bhd Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Malaysia Smelting Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Malaysia Smelting 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 Malaysia Smelting 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 * 0.8967
+
0.528 * 1.04
+
0.404 * 0.9363
+
0.892 * 1.0397
+
0.115 * 0.9686
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.028
+
4.679 * -0.000466
-
0.327 * 1.0927
=
-2.59
* 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))
=
(13.649 / (13.649 + 199.666))
/
(14.765 / (14.765 + 208.748))
=
0.063985
/
0.066059
=
0.9686
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
=
(81.974 - 0
-
82.678)
/
1511.043
=
-0.000466
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.
Malaysia Smelting Bhd has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
Malaysia Smelting Bhd (XKLS:5916) has a Beneish M-Score of -2.59 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Malaysia Smelting Bhd and its competitors. According to the industry distribution chart, Malaysia Smelting Bhd ranks #240 out of 679 companies in the Metals & Mining industry, placing it in the top 35.3%.
Is Malaysia Smelting Bhd's Beneish M-Score too high?
Malaysia Smelting Bhd's current Beneish M-Score is -2.59. Based on the distribution chart, Malaysia Smelting Bhd ranks #240 out of 679 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Malaysia Smelting Bhd has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Malaysia Smelting Bhd's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Malaysia Smelting Bhd ranks #240 out of 679 companies for Beneish M-Score. This puts Malaysia Smelting 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Malaysia Smelting Bhd and its competitors. Malaysia Smelting Bhd's current Beneish M-Score is -2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Malaysia Smelting Bhd stock overvalued right now?
Based on GuruFocus' analysis, Malaysia Smelting Bhd (XKLS:5916) is currently considered Significantly Overvalued. The stock's GF Value™ is RM1.44, compared to a current price of RM1.90 — trading 31.9% above its estimated fair value. The current Beneish M-Score is -2.59. Malaysia Smelting Bhd's overall GF Score™ is 78/100 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 Malaysia Smelting Bhd (XKLS:5916), the current Beneish M-Score is -2.59 as of Jul. 25, 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 Malaysia Smelting Bhd (XKLS:5916) Overvalued in 2026?
Based on GuruFocus' analysis, Malaysia Smelting Bhd stock appears to be overvalued.
The current stock price of RM1.90 is trading 31.9% above its estimated GF Value™ of RM1.44.
GuruFocus considers Malaysia Smelting Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:5916:
Beneish M-Score: -2.59
GF Value™: RM1.44 vs. price of RM1.90 (31.9% above fair value)
No single metric tells the full story. See the XKLS:5916 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Malaysia Smelting Corp Bhd is an investment holding company. Along with its subsidiaries, it is engaged in smelting of tin concentrates and tin-bearing materials, the production of various grades of refined tin metal under the MSC brand name, and the sales and delivery of refined tin metal and by-products. The group has three reportable operating segments: Tin smelting, Tin Mining, and Others. The majority of its revenue is generated from the Tin Smelting segment, which includes the smelting of tin concentrates and tin-bearing materials, the production of various grades of refined tin metal, and the sale and delivery of refined tin metal and by-products. Geographically, the group mainly operates in Malaysia.
78GF Score
Get the complete analysis for XKLS:5916
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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