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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.
Good Sign:
Beneish M-Score -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for SEG International Bhd's Beneish M-Score or its related term are showing as below:
XKLS:9792'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.53 Med: -2.72 Max: -1.93
Current: -2.69
During the past 13 years, the highest Beneish M-Score of SEG International Bhd was -1.93. The lowest was -3.53. And the median was -2.72.
SEG International Bhd Beneish M-Score Related Terms
SEG International Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for SEG International 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:9792 vs EDU, TAL, LAUR: Beneish M-Score Comparison
For the Education & Training Services subindustry, SEG International 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.
SEG International Bhd Beneish M-Score vs Education Industry
For the Education industry and Consumer Defensive sector, SEG International Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SEG International 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 SEG International 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 * 1.0491
+
0.528 * 0.9821
+
0.404 * 1.0903
+
0.892 * 1.1363
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9411
+
4.679 * -0.086209
-
0.327 * 1.0214
=
-2.69
* 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))
=
(0 / (0 + 278.773))
/
(0 / (0 + 272.9))
=
0
/
0
=
1
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
=
(9.135 - 0
-
49.31)
/
466.02
=
-0.086209
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.
SEG International Bhd has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
SEG International Bhd (XKLS:9792) has a Beneish M-Score of -2.69 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SEG International Bhd and its competitors. According to the industry distribution chart, SEG International Bhd ranks #98 out of 239 companies in the Education industry, placing it in the top 41%.
Is SEG International Bhd's Beneish M-Score too high?
SEG International Bhd's current Beneish M-Score is -2.69. Based on the distribution chart, SEG International Bhd ranks #98 out of 239 companies in the Education industry, which is above the industry midpoint. Overall, SEG International Bhd has a GF Score™ of 47/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SEG International Bhd's Beneish M-Score compare to EDU and TAL?
According to the Education industry distribution chart, SEG International Bhd ranks #98 out of 239 companies for Beneish M-Score. This puts SEG International 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 an Education company?
A good Beneish M-Score depends on the Education 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 SEG International Bhd and its competitors. SEG International Bhd's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SEG International Bhd stock overvalued right now?
Based on GuruFocus' analysis, SEG International Bhd (XKLS:9792) is currently considered Fairly Valued. The stock's GF Value™ is RM0.65, compared to a current price of RM0.64 — trading 2.3% below its estimated fair value. The current Beneish M-Score is -2.69. SEG International Bhd's overall GF Score™ is 47/100 with 7 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 SEG International Bhd (XKLS:9792), the current Beneish M-Score is -2.69 as of Jul. 14, 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 SEG International Bhd (XKLS:9792) Overvalued in 2026?
Based on GuruFocus' analysis, SEG International Bhd stock appears to be undervalued.
The current stock price of RM0.64 is trading 2.3% below its estimated GF Value™ of RM0.65.
GuruFocus considers SEG International Bhd to be Fairly Valued.
Key valuation signals for XKLS:9792:
Beneish M-Score: -2.69
GF Value™: RM0.65 vs. price of RM0.64 (2.3% below fair value)
No single metric tells the full story. See the XKLS:9792 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SEG International Bhd is engaged in the businesses of investment holding and provision of management consultancy services, property management, rental of premises, business advisory services, and educational and training services. Along with its subsidiaries, it is principally engaged in one segment, the provision of educational activities. The Group operates across higher education and K-12 segments, offering tertiary education and professional qualifications in Malaysia. It provides educational courses across different fields such as accounting and finance, health sciences, law, medicine, music, business, engineering, psychology, information technology, etc., through its university campuses, as well as online platforms. Geographically, the Group operates solely in Malaysia.
47GF Score
Get the complete analysis for XKLS:9792
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