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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.
Warning Sign:
Beneish M-Score -1.51 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for XL Holdings Bhd's Beneish M-Score or its related term are showing as below:
XKLS:7121'
s Beneish M-Score Range Over the Past 10 Years
Min: -447.61 Med: -2.1 Max: -0.03
Current: -1.51
During the past 13 years, the highest Beneish M-Score of XL Holdings Bhd was -0.03. The lowest was -447.61. And the median was -2.10.
XL Holdings Bhd Beneish M-Score Related Terms
XL Holdings Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for XL Holdings 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.
XKLS:7121 vs ADM, BG, TSN: Beneish M-Score Comparison
For the Farm Products subindustry, XL Holdings 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.
XL Holdings Bhd Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, XL Holdings Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where XL Holdings 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 XL Holdings 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 * 1.8763
+
0.528 * 1.0928
+
0.404 * 0.7171
+
0.892 * 1.1829
+
0.115 * 1.0385
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7634
+
4.679 * 0.148935
-
0.327 * 3.058
=
-1.51
* 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))
=
(5.766 / (5.766 + 104.557))
/
(7.073 / (7.073 + 133.473))
=
0.052265
/
0.050325
=
1.0385
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
=
(9.508 - 0
-
-29.387)
/
261.154
=
0.148935
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.
XL Holdings Bhd has a M-score of -1.51 signals that the company is likely to be a manipulator.
XL Holdings Bhd (XKLS:7121) has a Beneish M-Score of -1.51 as of Jul. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on XL Holdings Bhd and its competitors. According to the industry distribution chart, XL Holdings Bhd ranks #1614 out of 1852 companies in the Consumer Packaged Goods industry, placing it in the top 87.1%.
Is XL Holdings Bhd's Beneish M-Score too high?
XL Holdings Bhd's current Beneish M-Score is -1.51. Based on the distribution chart, XL Holdings Bhd ranks #1614 out of 1852 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, XL Holdings Bhd has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does XL Holdings Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, XL Holdings Bhd ranks #1614 out of 1852 companies for Beneish M-Score. This places XL Holdings 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 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 XL Holdings Bhd and its competitors. XL Holdings Bhd's current Beneish M-Score is -1.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is XL Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, XL Holdings Bhd (XKLS:7121) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.56, compared to a current price of RM0.83 — trading 48.2% above its estimated fair value. The current Beneish M-Score is -1.51. XL Holdings Bhd's overall GF Score™ is 54/100 with 11 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 XL Holdings Bhd (XKLS:7121), the current Beneish M-Score is -1.51 as of Jul. 19, 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 XL Holdings Bhd (XKLS:7121) Overvalued in 2026?
Based on GuruFocus' analysis, XL Holdings Bhd stock appears to be overvalued.
The current stock price of RM0.83 is trading 48.2% above its estimated GF Value™ of RM0.56.
GuruFocus considers XL Holdings Bhd to be Significantly Overvalued.
Key valuation signals for XKLS:7121:
Beneish M-Score: -1.51
GF Value™: RM0.56 vs. price of RM0.83 (48.2% above fair value)
No single metric tells the full story. See the XKLS:7121 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
XL Holdings Bhd is an investment company that engages in the provision of management services. The company's operating segment includes Fish farming, Merchandise, Edible bird nest, Foods, Investment holding, and Growing crop. The Foods segment, which is into the Manufacturing and trading of edible foods, generates the majority of its revenue. Fish farming is into Breeding and rearing of fishery livestock. Merchandise segment in into trading of fish, consumables, and aquarium accessories. The edible bird nest segment is into the trading and distribution of edible bird nest. Growing crop: Growing a crop of pineapple.
54GF Score
Get the complete analysis for XKLS:7121
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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