SKK Holdings Limited
RNTZ Industrials Engineering & Construction
SKK Holdings Limited’s revenue for fiscal 2025 (year ended December 2025) was $12.9 million, up 16.6% from fiscal 2024. Revenue growth for three consecutive years.
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SKK Holdings Limited (RNTZ) Beneish M-score
SKK Holdings Limited's Beneish M-score for fiscal 2025 is −2.52; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.52 | 0.70 |
| FY2024 | −3.22 | (5.47) |
| FY2023 | 2.25 | 3.28 |
| FY2022 | −1.03 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.12 | — | 1.03 | |
| Gross margin index | 1.44 | — | 0.76 | |
| Asset quality index | 0.74 | — | 0.30 | |
| Sales growth index | 1.17 | — | 1.04 | |
| Depreciation index | 1.24 | — | 0.14 | |
| SG&A index | 1.41 | — | −0.24 | |
| Total accruals to total assets | (0.08) | — | −0.36 | |
| Leverage index | 1.08 | — | −0.35 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.52 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| AXNX Mint Incorporation Limited compare | −9.8× |
| MSGY Masonglory Limited compare | −4.0× |
| RNTZ SKK Holdings Limited | −2.5× |
| KAZR Skyline Builders Group Holding Limited compare | −2.2× |
| OFAL OFA Group compare | −1.2× |
| RITRF Reitar Logtech Holdings Limited compare | 1.4× |
| ONEG OneConstruction Group Limited compare | — |
| ZDAI DirectBooking Technology Co., Ltd. compare | — |
| PMA Ming Shing Group Holdings Limited compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI