B. I. G. Industries Bhd (XKLS:7005) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


XKLS:7005 B. I. G. Industries Bhd XKLS:7005
50 GF Score
Price RM0.58
GF Value RM0.70
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is B. I. G. Industries Bhd Beneish M-Score?

B. I. G. Industries Bhd XKLS:7005 50 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates XKLS:7005 with a GF Score™ of 50/100 and a GF Value™ of RM0.70 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,530 Chemicals companies, B. I. G. Industries Bhd ranks worse than 65359.41% 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.

The historical rank and industry rank for B. I. G. Industries Bhd's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of B. I. G. Industries Bhd was -1.99. The lowest was -25.27. And the median was -3.09.

B. I. G. Industries Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for B. I. G. Industries 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.

B. I. G. Industries Bhd Beneish M-Score Chart

B. I. G. Industries Bhd Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 -2.32 -3.71

B. I. G. Industries 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.63 -3.71 -2.88 -2.03 0.00

XKLS:7005 vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, B. I. G. Industries 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.

B. I. G. Industries Bhd Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, B. I. G. Industries Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where B. I. G. Industries Bhd's Beneish M-Score falls into.


XKLS:7005
50GF Score
B. I. G. Industries Bhd XKLS:7005
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

B. I. G. Industries 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 B. I. G. Industries 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM13.17 Mil.
Revenue was 12.479 + 12.74 + 6.709 + 9.166 = RM41.09 Mil.
Gross Profit was 7.109 + 7.403 + 4.901 + 5.494 = RM24.91 Mil.
Total Current Assets was RM48.27 Mil.
Total Assets was RM71.64 Mil.
Property, Plant and Equipment(Net PPE) was RM23.37 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.46 Mil.
Selling, General, & Admin. Expense(SGA) was RM7.68 Mil.
Total Current Liabilities was RM13.27 Mil.
Long-Term Debt & Capital Lease Obligation was RM2.31 Mil.
Net Income was 0.299 + 3.111 + 0.432 + 0.953 = RM4.80 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 2.714 + 0.323 + -4.621 + 1.227 = RM-0.36 Mil.
 Total Receivables was RM5.22 Mil.
Revenue was 6.787 + 8.68 + 13.762 + 9.969 = RM39.20 Mil.
Gross Profit was 5.208 + 5.37 + 7.59 + 5.039 = RM23.21 Mil.
Total Current Assets was RM40.42 Mil.
Total Assets was RM64.16 Mil.
Property, Plant and Equipment(Net PPE) was RM23.74 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.75 Mil.
Selling, General, & Admin. Expense(SGA) was RM6.31 Mil.
Total Current Liabilities was RM11.92 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.90 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)
=(13.172 / 41.094) / (5.217 / 39.198)
=0.320533 / 0.133094
=

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)
=(23.207 / 39.198) / (24.907 / 41.094)
=0.592046 / 0.606098
=

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 - (48.272 + 23.366) / 71.638) / (1 - (40.422 + 23.741) / 64.163)
=0 / 0
=

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
=41.094 / 39.198
=

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))
=(2.747 / (2.747 + 23.741)) / (2.462 / (2.462 + 23.366))
=0.103707 / 0.095323
=

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)
=(7.683 / 41.094) / (6.312 / 39.198)
=0.186962 / 0.161029
=

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)
=((2.307 + 13.269) / 71.638) / ((0.904 + 11.92) / 64.163)
=0.217427 / 0.199866
=

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
=(4.795 - 0 - -0.357) / 71.638
=0.071917

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
B. I. G. Industries Bhd (XKLS:7005) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on B. I. G. Industries Bhd and its competitors. According to the industry distribution chart, B. I. G. Industries Bhd ranks #999999 out of 1530 companies in the Chemicals industry.
Is B. I. G. Industries Bhd's Beneish M-Score too high?
B. I. G. Industries Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, B. I. G. Industries Bhd ranks #999999 out of 1530 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, B. I. G. Industries Bhd has a GF Score™ of 50/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does B. I. G. Industries Bhd's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, B. I. G. Industries Bhd ranks #999999 out of 1530 companies for Beneish M-Score. This places B. I. G. Industries 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 B. I. G. Industries Bhd and its competitors. B. I. G. Industries Bhd's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is B. I. G. Industries Bhd stock overvalued right now?
Based on GuruFocus' analysis, B. I. G. Industries Bhd (XKLS:7005) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.70, compared to a current price of RM0.58 — trading 17.1% below its estimated fair value. The current Beneish M-Score is 0.00. B. I. G. Industries Bhd's overall GF Score™ is 50/100 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 B. I. G. Industries Bhd (XKLS:7005), the current Beneish M-Score is 0.00 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 B. I. G. Industries Bhd (XKLS:7005) Overvalued in 2026?

Based on GuruFocus' analysis, B. I. G. Industries Bhd stock appears to be undervalued. The current stock price of RM0.58 is trading 17.1% below its estimated GF Value™ of RM0.70. GuruFocus considers B. I. G. Industries Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:7005:

  • Beneish M-Score: 0.00
  • GF Value™: RM0.70 vs. price of RM0.58 (17.1% below fair value)
  • GF Score™: 50/100 with 3 warning signs

No single metric tells the full story. See the XKLS:7005 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

B. I. G. Industries Bhd Business Description

Address Jalan Tinju 13/50, Section 13, 19D, 4th Floor, Block 2, Section 13, Worldwide Business Centre, Shah Alam, SGR, MYS, 40675
B. I. G. Industries Bhd engages in the manufacturing, distributing, and marketing of industrial gases, pharmaceutical and medical goods, property development, and manufacturing and sale of ready-mix concrete products, manufacturing and trading of reinforced concrete piles, and distribution of cement. Its segments include Gas, which manufactures, distributes and markets industrial gases, pharmaceutical and medical goods, provision of services and maintenance and trading in related products, Property that operates as a property management and property developer, and Corporate/Others provides management services. The group operates predominantly in Malaysia.
50GF Score

Get the complete analysis for XKLS:7005

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

RM0.58
Price
RM0.70
GF Value