Engtex Group Bhd Beneish M-Score Historical Data
The historical data trend for Engtex Group 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.
Engtex Group Bhd Beneish M-Score Chart
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Engtex Group Bhd Annual Data
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Dec14 |
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Dec19 |
Dec20 |
Dec21 |
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Dec23 |
| Beneish M-Score |
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-2.83 |
-2.59 |
-2.59 |
-2.09 |
-2.15 |
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Engtex Group Bhd Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Mar24 |
| Beneish M-Score |
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-2.07 |
-2.06 |
-2.35 |
-2.15 |
-2.63 |
Competitive Comparison of Engtex Group Bhd's Beneish M-Score
For the Industrial Distribution subindustry, Engtex Group 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.
Engtex Group Bhd's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Engtex Group Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Engtex Group Bhd's Beneish M-Score falls into.
Engtex Group 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 Engtex Group 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 * 1.0111 | + | 0.528 * 1.0589 | + | 0.404 * 1.0578 | + | 0.892 * 1.0168 | + | 0.115 * 1.0096 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9818 | + | 4.679 * -0.049606 | - | 0.327 * 0.9986 |
| = | -2.63 |
* 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.
| This Year (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was RM433 Mil.
Revenue was 383.544 + 370.139 + 373.057 + 348.627 = RM1,475 Mil.
Gross Profit was 46.593 + 34.054 + 34.749 + 32.267 = RM148 Mil.
Total Current Assets was RM1,082 Mil.
Total Assets was RM1,597 Mil.
Property, Plant and Equipment(Net PPE) was RM468 Mil.
Depreciation, Depletion and Amortization(DDA) was RM23 Mil.
Selling, General, & Admin. Expense(SGA) was RM102 Mil.
Total Current Liabilities was RM717 Mil.
Long-Term Debt & Capital Lease Obligation was RM32 Mil.
Net Income was 9.399 + 1.526 + 3.185 + 1.655 = RM16 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 48.616 + -41.12 + 70.87 + 16.628 = RM95 Mil.
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Total Receivables was RM421 Mil.
Revenue was 377.944 + 351.125 + 351.238 + 370.701 = RM1,451 Mil.
Gross Profit was 38.49 + 27.133 + 36.992 + 51.171 = RM154 Mil.
Total Current Assets was RM1,081 Mil.
Total Assets was RM1,567 Mil.
Property, Plant and Equipment(Net PPE) was RM442 Mil.
Depreciation, Depletion and Amortization(DDA) was RM22 Mil.
Selling, General, & Admin. Expense(SGA) was RM102 Mil.
Total Current Liabilities was RM701 Mil.
Long-Term Debt & Capital Lease Obligation was RM35 Mil.
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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) |
| = | (433.048 / 1475.367) | / | (421.237 / 1451.008) |
| = | 0.293519 | / | 0.290306 |
| | = | 1.0111 |
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) |
| = | (153.786 / 1451.008) | / | (147.663 / 1475.367) |
| = | 0.105986 | / | 0.100086 |
| | = | 1.0589 |
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 - (1081.93 + 467.6) / 1597.165) | / | (1 - (1081.14 + 441.803) / 1567.129) |
| = | 0.029825 | / | 0.028196 |
| | = | 1.0578 |
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 |
| = | 1475.367 | / | 1451.008 |
| | = | 1.0168 |
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)) |
| = | (22.282 / (22.282 + 441.803)) | / | (23.348 / (23.348 + 467.6)) |
| = | 0.048013 | / | 0.047557 |
| | = | 1.0096 |
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) |
| = | (101.862 / 1475.367) | / | (102.042 / 1451.008) |
| = | 0.069042 | / | 0.070325 |
| | = | 0.9818 |
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) |
| = | ((31.972 + 717.043) / 1597.165) | / | ((35.291 + 700.673) / 1567.129) |
| = | 0.468965 | / | 0.469626 |
| | = | 0.9986 |
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 |
| = | (15.765 - 0 | - | 94.994) | / | 1597.165 |
| | = | -0.049606 |
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.
Engtex Group Bhd has a M-score of -2.63 suggests that the company is unlikely to be a manipulator.
Engtex Group Bhd (XKLS:5056) Business Description
Traded in Other Exchanges
N/A
Address
Lot 36, Jalan BRP 9/2B, Putra Industrial Park, Bukit Rahman Putra, Sungai Buloh, SGR, MYS, 47000
Engtex Group Bhd is an investment holding company operating in four business segments; The wholesale and distribution segment Includes wholesale and distribution of pipes, valves, fittings, plumbing materials, steel-related products, general hardware products, and construction materials, Manufacturing segment Includes manufacturing and sale of steel and ductile iron pipes and fittings, valves, manhole covers, hydrants, industrial casting products, welded wire mesh, hard-drawn wire, bitumen products, and other steel-related products, Property development segment includes property development and investment activities, and the Hospitality segment Includes the provision of rooms, food and beverage, meeting and function rooms, and other hospitality services.
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