Omesti Bhd (XKLS:9008PB.PFD) Beneish M-Score : -2.06 (As of May. 12, 2024)

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What is Omesti 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 -2.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:9008PB.PFD' s Beneish M-Score Range Over the Past 10 Years
Min: -4.53 Med: -2.21 Max: -2.02
Current: -2.06

During the past 13 years, the highest Beneish M-Score of Omesti Bhd was -2.02. The lowest was -4.53. And the median was -2.21.

Omesti Bhd Beneish M-Score Historical Data

The historical data trend for Omesti 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.

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Omesti Bhd Beneish M-Score Chart

Omesti Bhd Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

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-2.02

-2.11

-2.71

-2.27

-2.06

Omesti Bhd Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-2.06	-	-	-

Competitive Comparison of Omesti Bhd's Beneish M-Score

For the Specialty Business Services subindustry, Omesti 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.

Omesti Bhd's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Omesti Bhd's Beneish M-Score distribution charts can be found below:

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

Omesti 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 Omesti 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 * 0.4936

0.528 * 1.0699

0.404 * 1.3221

0.892 * 0.8749

0.115 * 0.7004

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.167888

0.327 * 0.7469

-2.06

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was RM37.55 Mil.
Revenue was RM116.23 Mil.
Gross Profit was RM42.46 Mil.
Total Current Assets was RM105.20 Mil.
Total Assets was RM622.50 Mil.
Property, Plant and Equipment(Net PPE) was RM28.85 Mil.
Depreciation, Depletion and Amortization(DDA) was RM43.27 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM189.36 Mil.
Long-Term Debt & Capital Lease Obligation was RM16.70 Mil.
Net Income was RM126.51 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM22.00 Mil.

Total Receivables was RM86.94 Mil.
Revenue was RM132.85 Mil.
Gross Profit was RM51.92 Mil.
Total Current Assets was RM224.14 Mil.
Total Assets was RM681.82 Mil.
Property, Plant and Equipment(Net PPE) was RM53.02 Mil.
Depreciation, Depletion and Amortization(DDA) was RM38.43 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM251.86 Mil.
Long-Term Debt & Capital Lease Obligation was RM50.32 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)
	=	(37.548 / 116.226)	/	(86.941 / 132.846)
	=	0.32306	/	0.65445
	=	0.4936

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)
	=	(51.919 / 132.846)	/	(42.455 / 116.226)
	=	0.390821	/	0.36528
	=	1.0699

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 - (105.2 + 28.854) / 622.5)	/	(1 - (224.142 + 53.018) / 681.817)
	=	0.784652	/	0.593498
	=	1.3221

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
	=	116.226	/	132.846
	=	0.8749

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))
	=	(38.426 / (38.426 + 53.018))	/	(43.27 / (43.27 + 28.854))
	=	0.420213	/	0.599939
	=	0.7004

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)
	=	(0 / 116.226)	/	(0 / 132.846)
	=	0	/	0
	=	1

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)
	=	((16.695 + 189.36) / 622.5)	/	((50.321 + 251.859) / 681.817)
	=	0.331012	/	0.443198
	=	0.7469

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
	=	(126.513 - 0	-	22.003)	/	622.5
	=	0.167888

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.

Omesti Bhd has a M-score of -2.06 suggests that the company is unlikely to be a manipulator.

Omesti Bhd Beneish M-Score Related Terms

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Omesti Bhd (XKLS:9008PB.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Omesti Bhd (XKLS:9008PB.PFD) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

9008:Malaysia

Address

No. 1 Persiaran Jalil 1, Bandar Bukit Jalil, 2-07-01 - Level 7, Plaza Bukit Jalil, Ho Hup Tower - Aurora Place, Kuala Lumpur, SGR, MYS, 57000

Website

https://www.omesti.com

Omesti Bhd is an investment holding and provision of management service company. The company's reportable segment includes Business Performance Services; Trading and Distribution Services; Digital and Infrastructure Services, Healthcare Services, and Others. The company generates maximum revenue from the Business Performance Services segment. The Business Performance Services segment is engaged in the provision of business performance improvement-related services. Trading and Distribution Services is engaged in the distribution and reselling of hardware and software and related services. Geographically, it derives a majority of its revenue from Malaysia and also has a presence in Singapore, Indonesia, Vietnam, and Brunei.

Omesti Bhd (XKLS:9008PB.PFD) Headlines

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