QL Resources Bhd (XKLS:7084) Beneish M-Score: -2.74 (As of Jun. 25, 2026)

What is QL Resources Bhd Beneish M-Score?

QL Resources Bhd XKLS:7084 +0.53% 89 Beneish M-Score is -2.74 as of Jun. 25, 2026. GuruFocus rates XKLS:7084 with a GF Score™ of 89/100 and a GF Value™ of RM4.41 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,849 Consumer Packaged Goods companies, QL Resources Bhd ranks better than 68.69% 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 -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:7084' s Beneish M-Score Range Over the Past 10 Years
Min: -2.85 Med: -2.7 Max: -2.64
Current: -2.74

During the past 13 years, the highest Beneish M-Score of QL Resources Bhd was -2.64. The lowest was -2.85. And the median was -2.70.

QL Resources Bhd Beneish M-Score Related Terms

QL Resources Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for QL Resources 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.

QL Resources Bhd Beneish M-Score Chart

QL Resources Bhd Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

Get a 7-Day Free Trial

-2.67

-2.64

-2.72

-2.80

-2.74

QL Resources 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															-2.80	0.00	0.00	0.00	-2.74

XKLS:7084 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, QL Resources 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.

QL Resources Bhd Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, QL Resources Bhd's Beneish M-Score distribution charts can be found below:

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

Save Embed

89GF Score

QL Resources Bhd XKLS:7084

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

View Full Analysis

QL Resources 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 QL Resources 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 * 1.1997

0.528 * 0.2328

0.404 * 0.8932

0.892 * 1

0.115 * 0.9877

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * -0.039122

0.327 * 0.9611

-2.74

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was RM790 Mil.
Revenue was RM7,047 Mil.
Gross Profit was RM7,047 Mil.
Total Current Assets was RM2,834 Mil.
Total Assets was RM6,106 Mil.
Property, Plant and Equipment(Net PPE) was RM2,977 Mil.
Depreciation, Depletion and Amortization(DDA) was RM292 Mil.
Selling, General, & Admin. Expense(SGA) was RM0 Mil.
Total Current Liabilities was RM1,759 Mil.
Long-Term Debt & Capital Lease Obligation was RM354 Mil.
Net Income was RM450 Mil.
Gross Profit was RM0 Mil.
Cash Flow from Operations was RM689 Mil.

Total Receivables was RM659 Mil.
Revenue was RM7,048 Mil.
Gross Profit was RM1,640 Mil.
Total Current Assets was RM2,684 Mil.
Total Assets was RM5,903 Mil.
Property, Plant and Equipment(Net PPE) was RM2,900 Mil.
Depreciation, Depletion and Amortization(DDA) was RM281 Mil.
Selling, General, & Admin. Expense(SGA) was RM917 Mil.
Total Current Liabilities was RM1,787 Mil.
Long-Term Debt & Capital Lease Obligation was RM338 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)
	=	(790.476 / 7047.423)	/	(658.917 / 7047.652)
	=	0.112165	/	0.093495
	=	1.1997

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)
	=	(1640.439 / 7047.652)	/	(7047.423 / 7047.423)
	=	0.232764	/	1
	=	0.2328

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 - (2834.228 + 2977.467) / 6105.73)	/	(1 - (2684.212 + 2900.268) / 5902.736)
	=	0.048157	/	0.053917
	=	0.8932

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
	=	7047.423	/	7047.652
	=	1

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))
	=	(280.982 / (280.982 + 2900.268))	/	(292.389 / (292.389 + 2977.467))
	=	0.088324	/	0.08942
	=	0.9877

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 / 7047.423)	/	(917.131 / 7047.652)
	=	0	/	0.130133
	=	0

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)
	=	((353.709 + 1758.563) / 6105.73)	/	((338.17 + 1786.632) / 5902.736)
	=	0.345949	/	0.359969
	=	0.9611

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
	=	(450.352 - 0	-	689.218)	/	6105.73
	=	-0.039122

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.

QL Resources Bhd has a M-score of -2.74 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 -2.74 mean?

QL Resources Bhd (XKLS:7084) has a Beneish M-Score of -2.74 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on QL Resources Bhd and its competitors. According to the industry distribution chart, QL Resources Bhd ranks #579 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 31.3%.

Is QL Resources Bhd's Beneish M-Score too high?

QL Resources Bhd's current Beneish M-Score is -2.74. Based on the distribution chart, QL Resources Bhd ranks #579 out of 1849 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, QL Resources Bhd has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does QL Resources Bhd's Beneish M-Score compare to ADM and BG?

According to the Consumer Packaged Goods industry distribution chart, QL Resources Bhd ranks #579 out of 1849 companies for Beneish M-Score. This puts QL Resources 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 Consumer Packaged Goods company?

A good Beneish M-Score depends on the Consumer Packaged Goods 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 QL Resources Bhd and its competitors. QL Resources Bhd's current Beneish M-Score is -2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is QL Resources Bhd stock overvalued right now?

Based on GuruFocus' analysis, QL Resources Bhd (XKLS:7084) is currently considered Modestly Undervalued. The stock's GF Value™ is RM4.41, compared to a current price of RM3.80 — trading 13.8% below its estimated fair value. The current Beneish M-Score is -2.74. QL Resources Bhd's overall GF Score™ is 89/100 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 QL Resources Bhd (XKLS:7084), the current Beneish M-Score is -2.74 as of Jun. 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 QL Resources Bhd (XKLS:7084) Overvalued in 2026?

Based on GuruFocus' analysis, QL Resources Bhd stock appears to be undervalued. The current stock price of RM3.80 is trading 13.8% below its estimated GF Value™ of RM4.41. GuruFocus considers QL Resources Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:7084:

Beneish M-Score: -2.74
GF Value™: RM4.41 vs. price of RM3.80 (13.8% below fair value)
GF Score™: 89/100 with 1 warning sign

No single metric tells the full story. See the XKLS:7084 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

QL Resources Bhd Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies XKLS:4065 XKLS:2089 XKLS:2291 XKLS:5323 XKLS:5126 XKLS:5027 XKLS:6633 XKLS:5029 XKLS:5012 XKLS:3476 ADM SZSE:002714 BG TSN SZSE:300498 OSL:MOWI OSL:SALM XZIM:TANGANDA SZSE:300972 SZSE:000876

Address Number 16A, Jalan Astaka U8/83, Bukit Jelutong, Shah Alam, SGR, MYS, 40150

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

QL Resources Bhd is an agro-food company. The company has the following principal segments;: Integrated Livestock Farming; Marine Products Manufacturing; Palm oil and clean energy and Convenience store chain. It farms and produces resource-efficient protein and food energy sources. The group's business operates in four geographical areas: Malaysia, Indonesia, Vietnam, and Others. It generates the majority of its revenue from the Integrated Livestock Farming segment.

89GF Score

Get the complete analysis for XKLS:7084

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

RM3.80

Price

RM4.41

GF Value

View XKLS:7084 Analysis

See Beneish M-Score data for all stocks →