Wang- Zheng BhdXKLS:7203 51 Beneish M-Score is -3.23 as of Jul. 05, 2026. GuruFocus rates XKLS:7203 with a GF Score™ of 51/100 and a GF Value™ of RM0.57 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 273 Forest Products companies, Wang- Zheng Bhd ranks better than 88.28% 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 -3.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Wang- Zheng Bhd's Beneish M-Score or its related term are showing as below:
XKLS:7203'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.31 Med: -2.38 Max: 64.78
Current: -3.23
During the past 13 years, the highest Beneish M-Score of Wang- Zheng Bhd was 64.78. The lowest was -3.31. And the median was -2.38.
Wang- Zheng Bhd Beneish M-Score Related Terms
Wang- Zheng Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Wang- Zheng 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.
For the Paper & Paper Products subindustry, Wang- Zheng 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.
Wang- Zheng Bhd Beneish M-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Wang- Zheng Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Wang- Zheng 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 Wang- Zheng 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 * 0.9163
+
0.528 * 0.8697
+
0.404 * 1.0519
+
0.892 * 0.9068
+
0.115 * 1.1003
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.3297
+
4.679 * -0.129908
-
0.327 * 0.6649
=
-3.23
* 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))
=
(5.441 / (5.441 + 52.234))
/
(5.041 / (5.041 + 53.755))
=
0.094339
/
0.085737
=
1.1003
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
=
(-1.925 - 0
-
29.955)
/
245.404
=
-0.129908
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.
Wang- Zheng Bhd has a M-score of -3.23 suggests that the company is unlikely to be a manipulator.
Wang- Zheng Bhd (XKLS:7203) has a Beneish M-Score of -3.23 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wang- Zheng Bhd and its competitors. According to the industry distribution chart, Wang- Zheng Bhd ranks #32 out of 273 companies in the Forest Products industry, placing it in the top 11.7%.
Is Wang- Zheng Bhd's Beneish M-Score too high?
Wang- Zheng Bhd's current Beneish M-Score is -3.23. Based on the distribution chart, Wang- Zheng Bhd ranks #32 out of 273 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Wang- Zheng Bhd has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Wang- Zheng Bhd's Beneish M-Score compare to SLVM?
According to the Forest Products industry distribution chart, Wang- Zheng Bhd ranks #32 out of 273 companies for Beneish M-Score. This places Wang- Zheng Bhd in the top 12% 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 a Forest Products company?
A good Beneish M-Score depends on the Forest Products 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 Wang- Zheng Bhd and its competitors. Wang- Zheng Bhd's current Beneish M-Score is -3.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wang- Zheng Bhd stock overvalued right now?
Based on GuruFocus' analysis, Wang- Zheng Bhd (XKLS:7203) is currently considered Significantly Undervalued. The stock's GF Value™ is RM0.57, compared to a current price of RM0.38 — trading 33.3% below its estimated fair value. The current Beneish M-Score is -3.23. Wang- Zheng Bhd's overall GF Score™ is 51/100 with 4 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 Wang- Zheng Bhd (XKLS:7203), the current Beneish M-Score is -3.23 as of Jul. 05, 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 Wang- Zheng Bhd (XKLS:7203) Overvalued in 2026?
Based on GuruFocus' analysis, Wang- Zheng Bhd stock appears to be undervalued.
The current stock price of RM0.38 is trading 33.3% below its estimated GF Value™ of RM0.57.
GuruFocus considers Wang- Zheng Bhd to be Significantly Undervalued.
Key valuation signals for XKLS:7203:
Beneish M-Score: -3.23
GF Value™: RM0.57 vs. price of RM0.38 (33.3% below fair value)
No single metric tells the full story. See the XKLS:7203 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wang- Zheng Bhd is an investment holding company. Through its subsidiaries, the company is involved in the manufacturing and processing of fiber-based products, which include disposable adult and baby diapers, sanitary protection and tissue products, cotton products, and processed papers. It has three segments, Processed Paper Products segment; which comprises of processed and distributed papers including wood-free paper and art paper; Disposable Fibre-Based products segment, which comprises of manufacture and distribution of a wide range of disposable adult and baby diapers, sanitary protection, tissue products, and cotton products; and Investment holding and others; which engages in investment holding and others. Key revenue is generated from Processed papers products segment.
51GF Score
Get the complete analysis for XKLS:7203
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKLS:7203 has been successfully added to your 
