Joe Holding Bhd (XKLS:7096) Beneish M-Score : -5.19 (As of Jun. 23, 2024)

View and export this data going back to 2000. Start your Free Trial

What is Joe Holding Bhd Beneish M-Score?

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 -5.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:7096' s Beneish M-Score Range Over the Past 10 Years
Min: -56.78 Med: -3.35 Max: -1.33
Current: -5.19

During the past 13 years, the highest Beneish M-Score of Joe Holding Bhd was -1.33. The lowest was -56.78. And the median was -3.35.

Joe Holding Bhd Beneish M-Score Historical Data

The historical data trend for Joe Holding 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.

* Premium members only.

Joe Holding Bhd Beneish M-Score Chart

Joe Holding Bhd Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

Get a 7-Day Free Trial

-3.04

-2.57

-1.33

-3.19

-5.19

Joe Holding Bhd Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-5.19	-	-	-

Competitive Comparison of Joe Holding Bhd's Beneish M-Score

For the Auto Parts subindustry, Joe Holding 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.

Joe Holding Bhd's Beneish M-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Joe Holding Bhd's Beneish M-Score distribution charts can be found below:

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

Joe Holding 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 Joe Holding 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 * 0.632

0.528 * 0.6385

0.404 * 1.4492

0.892 * 1.1214

0.115 * 0.7795

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.3476

4.679 * -0.17813

0.327 * 5.2054

-5.19

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was RM4.33 Mil.
Revenue was RM21.07 Mil.
Gross Profit was RM4.33 Mil.
Total Current Assets was RM150.71 Mil.
Total Assets was RM255.51 Mil.
Property, Plant and Equipment(Net PPE) was RM7.86 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.89 Mil.
Selling, General, & Admin. Expense(SGA) was RM15.91 Mil.
Total Current Liabilities was RM62.57 Mil.
Long-Term Debt & Capital Lease Obligation was RM3.91 Mil.
Net Income was RM-38.88 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM6.64 Mil.

Total Receivables was RM6.10 Mil.
Revenue was RM18.79 Mil.
Gross Profit was RM2.47 Mil.
Total Current Assets was RM170.76 Mil.
Total Assets was RM239.29 Mil.
Property, Plant and Equipment(Net PPE) was RM5.88 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.05 Mil.
Selling, General, & Admin. Expense(SGA) was RM6.04 Mil.
Total Current Liabilities was RM11.68 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.28 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)
	=	(4.325 / 21.069)	/	(6.102 / 18.788)
	=	0.205278	/	0.324782
	=	0.632

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)
	=	(2.466 / 18.788)	/	(4.331 / 21.069)
	=	0.131254	/	0.205563
	=	0.6385

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 - (150.708 + 7.856) / 255.51)	/	(1 - (170.759 + 5.88) / 239.288)
	=	0.379422	/	0.261814
	=	1.4492

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
	=	21.069	/	18.788
	=	1.1214

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))
	=	(1.045 / (1.045 + 5.88))	/	(1.886 / (1.886 + 7.856))
	=	0.150903	/	0.193595
	=	0.7795

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)
	=	(15.909 / 21.069)	/	(6.043 / 18.788)
	=	0.75509	/	0.321641
	=	2.3476

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)
	=	((3.914 + 62.574) / 255.51)	/	((0.28 + 11.682) / 239.288)
	=	0.260217	/	0.04999
	=	5.2054

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
	=	(-38.878 - 0	-	6.636)	/	255.51
	=	-0.17813

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.

Joe Holding Bhd has a M-score of -5.19 suggests that the company is unlikely to be a manipulator.

Joe Holding Bhd Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Joe Holding Bhd's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Joe Holding Bhd (XKLS:7096) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Joe Holding Bhd (XKLS:7096) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jalan Teratai, Off Jalan Meru, Lot 5031 and 5032, Klang, SGR, MYS, 41050

Website

https://gp-products.com

Joe Holding Bhd is an investment holding company. The company's operating segment includes Automotive batteries; Valve Regulated Lead Acid (VRLA) batteries; Investment holding and others. It generates maximum revenue from the Automotive batteries segment. The Automotive batteries segment is engaged in the manufacture, assembly, and sale of automotive batteries and components. Geographically, it derives a majority of revenue from Malaysia. Valve Regulated Lead Acid batteries segment includes Manufacture, assembly and sales of sealed lead acid batteries. Investment holding segment includes Provision of warehouse storage service. Others includes Glove manufacturing and dormant subsidiary companies.

Joe Holding Bhd (XKLS:7096) Headlines

No Headlines