Edelteq Holdings Bhd (XKLS:0278) Beneish M-Score : -3.13 (As of May. 12, 2024)

View and export this data going back to 2023. Start your Free Trial

What is Edelteq Holdings 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 -3.13 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0278' s Beneish M-Score Range Over the Past 10 Years
Min: -3.45 Med: -3.13 Max: -1.3
Current: -3.13

During the past 5 years, the highest Beneish M-Score of Edelteq Holdings Bhd was -1.30. The lowest was -3.45. And the median was -3.13.

Edelteq Holdings Bhd Beneish M-Score Historical Data

The historical data trend for Edelteq 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.

* Premium members only.

Edelteq Holdings Bhd Beneish M-Score Chart

Edelteq Holdings Bhd Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-1.30

-3.45

-3.13

Edelteq Holdings Bhd Quarterly Data
	Dec19	Dec20	Dec21	Dec22	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial			-1.30	-3.45	-	-	-3.13

Competitive Comparison of Edelteq Holdings Bhd's Beneish M-Score

For the Semiconductors subindustry, Edelteq 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.

Edelteq Holdings Bhd's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Edelteq Holdings Bhd's Beneish M-Score distribution charts can be found below:

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

Edelteq Holdings 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 Edelteq Holdings 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 * 0.6114

0.528 * 1.0656

0.404 * 0.5849

0.892 * 1.002

0.115 * 2.624

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0225

4.679 * -0.104034

0.327 * 0.5626

-3.13

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was RM4.41 Mil.
Revenue was RM24.41 Mil.
Gross Profit was RM10.91 Mil.
Total Current Assets was RM37.25 Mil.
Total Assets was RM56.30 Mil.
Property, Plant and Equipment(Net PPE) was RM15.28 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.45 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.75 Mil.
Total Current Liabilities was RM6.97 Mil.
Long-Term Debt & Capital Lease Obligation was RM3.25 Mil.
Net Income was RM4.04 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM9.89 Mil.

Total Receivables was RM7.21 Mil.
Revenue was RM24.36 Mil.
Gross Profit was RM11.60 Mil.
Total Current Assets was RM19.17 Mil.
Total Assets was RM28.24 Mil.
Property, Plant and Equipment(Net PPE) was RM5.83 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.47 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.61 Mil.
Total Current Liabilities was RM6.11 Mil.
Long-Term Debt & Capital Lease Obligation was RM3.00 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)
	=	(4.414 / 24.409)	/	(7.205 / 24.36)
	=	0.180835	/	0.295772
	=	0.6114

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)
	=	(11.602 / 24.36)	/	(10.91 / 24.409)
	=	0.476273	/	0.446966
	=	1.0656

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 - (37.249 + 15.277) / 56.299)	/	(1 - (19.168 + 5.832) / 28.235)
	=	0.067017	/	0.114574
	=	0.5849

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
	=	24.409	/	24.36
	=	1.002

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))
	=	(0.469 / (0.469 + 5.832))	/	(0.446 / (0.446 + 15.277))
	=	0.074433	/	0.028366
	=	2.624

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)
	=	(5.751 / 24.409)	/	(5.613 / 24.36)
	=	0.23561	/	0.230419
	=	1.0225

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)
	=	((3.247 + 6.972) / 56.299)	/	((2.996 + 6.113) / 28.235)
	=	0.181513	/	0.322614
	=	0.5626

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
	=	(4.036 - 0	-	9.893)	/	56.299
	=	-0.104034

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.

Edelteq Holdings Bhd has a M-score of -3.13 suggests that the company is unlikely to be a manipulator.

Edelteq Holdings Bhd Beneish M-Score Related Terms

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

Edelteq Holdings Bhd (XKLS:0278) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Edelteq Holdings Bhd (XKLS:0278) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Lorong Impian Ria 4, No. 20, 1st Floor, Taman Impian Ria, Bukit Mertajam, PNG, MYS, 14000

Website

https://www.edelteq.com

Edelteq Holdings Bhd is an investment holding company and through our Subsidiaries, we are principally involved in the provision of engineering support for IC assembly and test processes in the semiconductor industry. The company is a leading semiconductor manufacturing solutions provider. It offers a wide range of products and services for semiconductor packaging, inspection, and testing processes. It operates in four reportable segments: design and assembly of IC burn-in boards and supply of PCBs; supply and refurbishment of IC assembly and test consumables; design, development, and assembly of ATE and factory automation; and trading of operating supplies, spare parts, and tools for IC assembly and testing.

Edelteq Holdings Bhd (XKLS:0278) Headlines

No Headlines