Hil Industries Bhd (XKLS:8443) Beneish M-Score : -2.93 (As of Jun. 20, 2024)

View and export this data going back to 1992. Start your Free Trial

What is Hil Industries 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 -2.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:8443' s Beneish M-Score Range Over the Past 10 Years
Min: -2.93 Med: -2.5 Max: -1.91
Current: -2.93

During the past 13 years, the highest Beneish M-Score of Hil Industries Bhd was -1.91. The lowest was -2.93. And the median was -2.50.

Hil Industries Bhd Beneish M-Score Historical Data

The historical data trend for Hil 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.

* Premium members only.

Hil Industries Bhd Beneish M-Score Chart

Hil Industries Bhd Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-1.91

-2.10

-2.00

-2.81

-2.93

Hil Industries Bhd Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-2.93	-

Competitive Comparison of Hil Industries Bhd's Beneish M-Score

For the Metal Fabrication subindustry, Hil 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.

Hil Industries Bhd's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Hil Industries Bhd's Beneish M-Score distribution charts can be found below:

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

Hil 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 Hil Industries 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 * 0.6241

0.528 * 0.8147

0.404 * 0.8592

0.892 * 1.2497

0.115 * 0.7362

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9883

4.679 * -0.031009

0.327 * 0.9966

-2.93

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was RM50.7 Mil.
Revenue was RM212.1 Mil.
Gross Profit was RM70.6 Mil.
Total Current Assets was RM414.4 Mil.
Total Assets was RM514.5 Mil.
Property, Plant and Equipment(Net PPE) was RM69.3 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8.5 Mil.
Selling, General, & Admin. Expense(SGA) was RM16.2 Mil.
Total Current Liabilities was RM44.2 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.0 Mil.
Net Income was RM38.7 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM54.6 Mil.

Total Receivables was RM65.0 Mil.
Revenue was RM169.7 Mil.
Gross Profit was RM46.0 Mil.
Total Current Assets was RM394.9 Mil.
Total Assets was RM478.3 Mil.
Property, Plant and Equipment(Net PPE) was RM50.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.4 Mil.
Selling, General, & Admin. Expense(SGA) was RM13.1 Mil.
Total Current Liabilities was RM41.3 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.0 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)
	=	(50.714 / 212.063)	/	(65.021 / 169.69)
	=	0.239146	/	0.383175
	=	0.6241

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)
	=	(45.999 / 169.69)	/	(70.558 / 212.063)
	=	0.271077	/	0.332722
	=	0.8147

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 - (414.397 + 69.27) / 514.536)	/	(1 - (394.911 + 49.986) / 478.296)
	=	0.059994	/	0.069829
	=	0.8592

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
	=	212.063	/	169.69
	=	1.2497

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))
	=	(4.395 / (4.395 + 49.986))	/	(8.542 / (8.542 + 69.27))
	=	0.080819	/	0.109777
	=	0.7362

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)
	=	(16.199 / 212.063)	/	(13.116 / 169.69)
	=	0.076388	/	0.077294
	=	0.9883

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)
	=	((0 + 44.239) / 514.536)	/	((0 + 41.261) / 478.296)
	=	0.085978	/	0.086267
	=	0.9966

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
	=	(38.677 - 0	-	54.632)	/	514.536
	=	-0.031009

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.

Hil Industries Bhd has a M-score of -2.93 suggests that the company is unlikely to be a manipulator.

Hil Industries Bhd Beneish M-Score Related Terms

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

Hil Industries Bhd (XKLS:8443) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Hil Industries Bhd (XKLS:8443) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Lot 3, Jalan Lada Sulah 16/11, Section 16, Shah Alam, SGR, MYS, 40000

Website

https://www.hil.com.my

Hil Industries Bhd is a manufacturer and seller of industrial and domestic moulded plastic products. The company's reportable segment include: Manufacturing; Property development and management; and Trading, services and others. The Manufacturing segment engages in the manufacture and sale of industrial and domestic moulded plastic products. The Property development and management segment is involved in the development of residential, commercial and light industrial properties, and letting out of properties and provision of property management services. Trading, services and others segment includes general trading. The company generates key revenue from the Manufacturing segment. It has a business presence in Malaysia, the PRC and Taiwan.

Hil Industries Bhd (XKLS:8443) Headlines

No Headlines