Syarikat Takaful Malaysia Keluarga Bhd (XKLS:6139) Beneish M-Score: -145.91 (As of Aug. 30, 2026)

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XKLS:6139 Syarikat Takaful Malaysia Keluarga Bhd XKLS:6139
79 GF Score
Price RM3.17
GF Value RM4.21
Valuation Modestly Undervalued
! 1 Warning Sign
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What is Syarikat Takaful Malaysia Keluarga Bhd Beneish M-Score?

Syarikat Takaful Malaysia Keluarga Bhd XKLS:6139 -0.94% 79 Beneish M-Score is -145.91 as of Aug. 30, 2026. GuruFocus rates XKLS:6139 with a GF Score™ of 79/100 and a GF Value™ of RM4.21 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 404 Insurance companies, Syarikat Takaful Malaysia Keluarga Bhd ranks better than 99.75% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -145.91 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:6139' s Beneish M-Score Range Over the Past 10 Years
Min: -356.68   Med: -2.3   Max: 409.23
Current: -145.91

During the past 13 years, the highest Beneish M-Score of Syarikat Takaful Malaysia Keluarga Bhd was 409.23. The lowest was -356.68. And the median was -2.30.

XKLS:6139
79GF Score
Syarikat Takaful Malaysia Keluarga Bhd XKLS:6139
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Syarikat Takaful Malaysia Keluarga 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 Syarikat Takaful Malaysia Keluarga 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 * 0.0303+0.528 * 1+0.404 * 1.0011+0.892 * 1.0969+0.115 * 2.1033
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.031233-0.327 * 437.9839
=-145.91

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was RM1 Mil.
Revenue was 1016.752 + 925.726 + 556.801 + 959.285 = RM3,459 Mil.
Gross Profit was 1016.752 + 925.726 + 556.801 + 959.285 = RM3,459 Mil.
Total Current Assets was RM0 Mil.
Total Assets was RM18,611 Mil.
Property, Plant and Equipment(Net PPE) was RM291 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8 Mil.
Selling, General, & Admin. Expense(SGA) was RM0 Mil.
Total Current Liabilities was RM0 Mil.
Long-Term Debt & Capital Lease Obligation was RM505 Mil.
Net Income was 88.835 + 100.971 + 90.942 + 115.419 = RM396 Mil.
Non Operating Income was 1.977 + 1.607 + 2.221 + 1.251 = RM7 Mil.
Cash Flow from Operations was -51.87 + 374.318 + -26.225 + -488.395 = RM-192 Mil.
 Total Receivables was RM18 Mil.
Revenue was 874.644 + 890.714 + 456.853 + 930.949 = RM3,153 Mil.
Gross Profit was 874.644 + 890.714 + 456.853 + 930.949 = RM3,153 Mil.
Total Current Assets was RM0 Mil.
Total Assets was RM17,542 Mil.
Property, Plant and Equipment(Net PPE) was RM293 Mil.
Depreciation, Depletion and Amortization(DDA) was RM18 Mil.
Selling, General, & Admin. Expense(SGA) was RM0 Mil.
Total Current Liabilities was RM0 Mil.
Long-Term Debt & Capital Lease Obligation was RM1 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)
=(0.587 / 3458.564) / (17.699 / 3153.16)
=0.00017 / 0.005613
=0.0303

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)
=(3153.16 / 3153.16) / (3458.564 / 3458.564)
=1 / 1
=1

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 - (0 + 290.687) / 18611.467) / (1 - (0 + 293.207) / 17542.16)
=0.984381 / 0.983286
=1.0011

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
=3458.564 / 3153.16
=1.0969

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))
=(18.039 / (18.039 + 293.207)) / (8.237 / (8.237 + 290.687))
=0.057957 / 0.027555
=2.1033

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)
=(0 / 3458.564) / (0 / 3153.16)
=0 / 0
=1

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)
=((505.388 + 0) / 18611.467) / ((1.092 + 0) / 17542.16)
=0.027155 / 6.2E-5
=437.9839

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
=(396.167 - 7.056 - -192.172) / 18611.467
=0.031233

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.

Syarikat Takaful Malaysia Keluarga Bhd has a M-score of -145.91 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 -145.91 mean?
Syarikat Takaful Malaysia Keluarga Bhd (XKLS:6139) has a Beneish M-Score of -145.91 as of Aug. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Syarikat Takaful Malaysia Keluarga Bhd and its competitors. According to the industry distribution chart, Syarikat Takaful Malaysia Keluarga Bhd ranks #1 out of 404 companies in the Insurance industry, placing it in the top 0.2%.
Is Syarikat Takaful Malaysia Keluarga Bhd's Beneish M-Score too high?
Syarikat Takaful Malaysia Keluarga Bhd's current Beneish M-Score is -145.91. Based on the distribution chart, Syarikat Takaful Malaysia Keluarga Bhd ranks #1 out of 404 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Syarikat Takaful Malaysia Keluarga Bhd has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Syarikat Takaful Malaysia Keluarga Bhd's Beneish M-Score compare to FNF and AXS?
According to the Insurance industry distribution chart, Syarikat Takaful Malaysia Keluarga Bhd ranks #1 out of 404 companies for Beneish M-Score. This places Syarikat Takaful Malaysia Keluarga Bhd in the top 0% 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Syarikat Takaful Malaysia Keluarga Bhd and its competitors. Syarikat Takaful Malaysia Keluarga Bhd's current Beneish M-Score is -145.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Syarikat Takaful Malaysia Keluarga Bhd stock overvalued right now?
Based on GuruFocus' analysis, Syarikat Takaful Malaysia Keluarga Bhd (XKLS:6139) is currently considered Modestly Undervalued. The stock's GF Value™ is RM4.21, compared to a current price of RM3.17 — trading 24.7% below its estimated fair value. The current Beneish M-Score is -145.91. Syarikat Takaful Malaysia Keluarga Bhd's overall GF Score™ is 79/100 with 1 warning sign 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 Syarikat Takaful Malaysia Keluarga Bhd (XKLS:6139), the current Beneish M-Score is -145.91 as of Aug. 30, 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 Syarikat Takaful Malaysia Keluarga Bhd (XKLS:6139) Overvalued in 2026?

Based on GuruFocus' analysis, Syarikat Takaful Malaysia Keluarga Bhd stock appears to be undervalued. The current stock price of RM3.17 is trading 24.7% below its estimated GF Value™ of RM4.21. GuruFocus considers Syarikat Takaful Malaysia Keluarga Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:6139:

  • Beneish M-Score: -145.91
  • GF Value™: RM4.21 vs. price of RM3.17 (24.7% below fair value)
  • GF Score™: 79/100 with 1 warning sign

No single metric tells the full story. See the XKLS:6139 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Syarikat Takaful Malaysia Keluarga Bhd Business Description

Address No. 4, Jalan Sultan Sulaiman, 27th Floor, Annexe Block, P.O.Box 11483, Menara Takafu, Kuala Lumpur, SGR, MYS, 50000
Syarikat Takaful Malaysia Keluarga Bhd is a takaful insurance provider in Malaysia and Indonesia. Like insurancetakaful protects participants from loss, but unlike traditional insurance, it adheres to a business model that conforms to Islamic religious law. The company's business includes participants who pool their money into a Participant Risk Fund, which then has funds available to disburse when a participant is facing a loss. For managing the takaful fund, the company receives a service fee on participant contributions. Syarikat Takaful Malaysia manages family and general takaful businesses, which include medical, motor and home takaful. The vast majority of the company's revenue comes from customers in Malaysia.
79GF Score

Get the complete analysis for XKLS:6139

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

RM3.17
Price
RM4.21
GF Value