UTi Worldwide Beneish M-Score Historical Data
The historical data trend for UTi Worldwide'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.
UTi Worldwide Beneish M-Score Chart
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UTi Worldwide Annual Data
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Jan12 |
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Jan15 |
| Beneish M-Score |
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-2.15 |
-2.53 |
-2.90 |
-2.47 |
-2.89 |
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UTi Worldwide Quarterly Data
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Jan11 |
Apr11 |
Jul11 |
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Oct15 |
| Beneish M-Score |
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-2.58 |
-2.89 |
-3.13 |
-3.61 |
-3.60 |
Competitive Comparison of UTi Worldwide's Beneish M-Score
For the Integrated Freight & Logistics subindustry, UTi Worldwide'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.
UTi Worldwide's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, UTi Worldwide's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where UTi Worldwide's Beneish M-Score falls into.
UTi Worldwide 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 UTi Worldwide 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 * 0.8558 | + | 0.528 * 1.005 | + | 0.404 * 0.9432 | + | 0.892 * 0.8717 | + | 0.115 * 0.8875 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0771 | + | 4.679 * -0.164364 | - | 0.327 * 1.1716 |
| = | -3.60 |
* 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 (Oct15) TTM: | Last Year (Oct14) TTM: |
Total Receivables was $806 Mil.
Revenue was 884.711 + 913.928 + 973.317 + 964.563 = $3,737 Mil.
Gross Profit was 328.191 + 338.549 + 329.452 + 312.168 = $1,308 Mil.
Total Current Assets was $1,262 Mil.
Total Assets was $1,834 Mil.
Property, Plant and Equipment(Net PPE) was $168 Mil.
Depreciation, Depletion and Amortization(DDA) was $82 Mil.
Selling, General, & Admin. Expense(SGA) was $1,070 Mil.
Total Current Liabilities was $867 Mil.
Long-Term Debt & Capital Lease Obligation was $417 Mil.
Net Income was -32.705 + -70.729 + -33.291 + -103.883 = $-241 Mil.
Non Operating Income was -1.712 + 0.067 + -0.071 + -0.649 = $-2 Mil.
Cash Flow from Operations was 22.547 + 68.289 + -75.357 + 47.72 = $63 Mil.
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Total Receivables was $1,080 Mil.
Revenue was 1077.179 + 1094.145 + 1043.888 + 1071.103 = $4,286 Mil.
Gross Profit was 382.351 + 393.72 + 369.354 + 362.909 = $1,508 Mil.
Total Current Assets was $1,472 Mil.
Total Assets was $2,192 Mil.
Property, Plant and Equipment(Net PPE) was $208 Mil.
Depreciation, Depletion and Amortization(DDA) was $85 Mil.
Selling, General, & Admin. Expense(SGA) was $1,140 Mil.
Total Current Liabilities was $882 Mil.
Long-Term Debt & Capital Lease Obligation was $427 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) |
| = | (806.058 / 3736.519) | / | (1080.406 / 4286.315) |
| = | 0.215724 | / | 0.252059 |
| | = | 0.8558 |
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) |
| = | (1508.334 / 4286.315) | / | (1308.36 / 3736.519) |
| = | 0.351895 | / | 0.350155 |
| | = | 1.005 |
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 - (1262.435 + 167.66) / 1833.995) | / | (1 - (1472.216 + 207.696) / 2191.666) |
| = | 0.22023 | / | 0.2335 |
| | = | 0.9432 |
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 |
| = | 3736.519 | / | 4286.315 |
| | = | 0.8717 |
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)) |
| = | (85.011 / (85.011 + 207.696)) | / | (81.556 / (81.556 + 167.66)) |
| = | 0.29043 | / | 0.32725 |
| | = | 0.8875 |
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) |
| = | (1070.19 / 3736.519) | / | (1139.83 / 4286.315) |
| = | 0.286414 | / | 0.265923 |
| | = | 1.0771 |
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) |
| = | ((416.643 + 867.314) / 1833.995) | / | ((427.401 + 882.28) / 2191.666) |
| = | 0.700088 | / | 0.597573 |
| | = | 1.1716 |
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 |
| = | (-240.608 - -2.365 | - | 63.199) | / | 1833.995 |
| | = | -0.164364 |
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.
UTi Worldwide has a M-score of -3.60 suggests that the company is unlikely to be a manipulator.
UTi Worldwide (UTi Worldwide) Business Description
Traded in Other Exchanges
N/A
Address
UTi Worldwide Inc was incorporated in the British Virgin Islands on January 30, 1995 under the International Business Companies Act as an international business company and operates under the British Virgin Islands legislation governing corporations. The Company's segments include: Freight Forwarding and Contract Logistics and Distribution Segment. Freight Forwarding the Company do not own or operate aircraft or vessels and, consequently, contract with commercial carriers to arrange for the shipment of cargo. In Contract Logistics and Distribution Segment; provides services relating to value-added warehousing and the subsequent distribution of goods and materials in order to meet clients inventory needs and production or distribution schedules. The Company operates a network of freight forwarding offices and contract logistics and distribution centers in a total of 60 countries. In addition, it serves its clients in 100 additional countries through independent agent-owned offices. The Companys business is managed from main support offices located in Long Beach, California, and several other locations. The Companys primary services include air and ocean freight forwarding, contract logistics, customs brokerage, distribution, inbound logistics and truckload brokerage. It also provides other supply chain management services, including consulting, the coordination of purchase orders and customized management services. Through its supply chain planning and optimization services, it assists its clients in designing and implementing solutions that improve the predictability and visibility and reduce the overall costs of their supply chains. As a freight forwarder, it conducts business as an indirect carrier and occasionally as an authorized agent for an airline. It acts as an indirect carrier with respect to shipments of freight. It arranges for, and in many cases provides, pick-up and delivery service between the carrier and the location of the shipper or recipient. When it acts as an authorized agent for an airline or ocean carrier, it arranges for the transportation of individual shipments to the airline or ocean carrier. As part of its freight forwarding services, it provides customs brokerage services in the United States and other countries in which it operates. As part of its customs brokerage services, it prepares and files formal documentation required for clearance through customs agencies, obtain customs bonds, facilitate the payment of import duties on behalf of the importer, arrange for payment of collect freight charges, assist with determining and obtaining the commodity classifications for shipments and perform other related services. The Companys contract logistics services include receiving, deconsolidation and decontainerization, sorting, put away, consolidation, assembly, cargo loading and unloading, assembly of freight and protective packaging, warehousing services, order management, and customized distribution and
Executives
| Donald W Slager |
director |
C/O ALLIED WASTE INDUSTRIES, 15880 N. GREENWAY-HAYDEN LOOP, STE. 100, SCOTTSDALE AZ 85260 |
| Langley C John Jr |
director |
19433 LAUREL PARK RD, RANCHO DOMINGUEZ CA 90220 |
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