Auro Holdings Bhd (XKLS:5025) Beneish M-Score : 0.48 (As of May. 23, 2024)

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What is Auro 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.

Warning Sign:

Beneish M-Score 0.48 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:5025' s Beneish M-Score Range Over the Past 10 Years
Min: -284.6 Med: -3.33 Max: 14.49
Current: 0.48

During the past 13 years, the highest Beneish M-Score of Auro Holdings Bhd was 14.49. The lowest was -284.60. And the median was -3.33.

Auro Holdings Bhd Beneish M-Score Historical Data

The historical data trend for Auro 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.

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Auro Holdings Bhd Beneish M-Score Chart

Auro Holdings Bhd Annual Data

Trend

Aug12

Aug13

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Feb22

Feb23

Beneish M-Score

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-3.82

-6.13

-3.62

-5.84

7.45

Auro Holdings Bhd Quarterly Data
	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Nov20	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Beneish M-Score	Get a 7-Day Free Trial															-5.07	7.45	-	-	0.48

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

For the Lumber & Wood Production subindustry, Auro 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.

Auro Holdings Bhd's Beneish M-Score Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Auro Holdings Bhd's Beneish M-Score distribution charts can be found below:

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

Auro 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 Auro 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 * 1.728

0.528 * 3.1026

0.404 * 0.9274

0.892 * 1.5811

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.3773

4.679 * 0.126953

0.327 * 1.0406

0.48

This Year (Nov23) TTM:

Last Year (Nov22) TTM:

Total Receivables was RM2.91 Mil.
Revenue was 0.352 + 2.254 + 1.691 + 0.481 = RM4.78 Mil.
Gross Profit was -0.475 + -0.341 + 0.046 + -0.478 = RM-1.25 Mil.
Total Current Assets was RM5.89 Mil.
Total Assets was RM31.75 Mil.
Property, Plant and Equipment(Net PPE) was RM25.82 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM3.32 Mil.
Total Current Liabilities was RM5.06 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.05 Mil.
Net Income was -0.786 + -0.307 + 0.042 + -0.494 = RM-1.55 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 1.27 + -1.023 + -1.776 + -4.047 = RM-5.58 Mil.

Total Receivables was RM1.06 Mil.
Revenue was 0.824 + 0.625 + 0.697 + 0.876 = RM3.02 Mil.
Gross Profit was -0.702 + -0.598 + -0.537 + -0.612 = RM-2.45 Mil.
Total Current Assets was RM7.44 Mil.
Total Assets was RM33.57 Mil.
Property, Plant and Equipment(Net PPE) was RM26.09 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.57 Mil.
Total Current Liabilities was RM5.18 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.01 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)
	=	(2.907 / 4.778)	/	(1.064 / 3.022)
	=	0.608414	/	0.352085
	=	1.728

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)
	=	(-2.449 / 3.022)	/	(-1.248 / 4.778)
	=	-0.81039	/	-0.261197
	=	3.1026

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 - (5.888 + 25.821) / 31.752)	/	(1 - (7.435 + 26.088) / 33.572)
	=	0.001354	/	0.00146
	=	0.9274

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
	=	4.778	/	3.022
	=	1.5811

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 / (0 + 26.088))	/	(0 / (0 + 25.821))
	=	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

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)
	=	(3.321 / 4.778)	/	(5.567 / 3.022)
	=	0.695061	/	1.842158
	=	0.3773

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)
	=	((0.048 + 5.061) / 31.752)	/	((0.013 + 5.178) / 33.572)
	=	0.160903	/	0.154623
	=	1.0406

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
	=	(-1.545 - 0	-	-5.576)	/	31.752
	=	0.126953

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.

Auro Holdings Bhd has a M-score of 0.48 signals that the company is likely to be a manipulator.

Auro Holdings Bhd Beneish M-Score Related Terms

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Auro Holdings Bhd (XKLS:5025) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Auro Holdings Bhd (XKLS:5025) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 12-2, Jalan Radin Bagus 6, Bandar Baru Sri Petaling, Wilayah Persekutuan, Kuala Lumpur, SGR, MYS, 57000

Website

https://www.nwp.com.my

Auro Holdings Bhd is an investment holding company engaged in the manufacturing and trading of a wide range of quality timber products such as interior and exterior moulded timber products, supplying FSC-certified and non-certified sawn timber, and also providing kiln-drying and timber treatment services. Its operating segments are the Molding and timber segment which involves manufacturing and selling of timber and timber products and provision of kiln drying and timber treatment services and Investment and others. Geographically it derives revenues from Malaysia, China, Singapore and others.

Auro Holdings Bhd (XKLS:5025) Headlines

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