Unisem Co Beneish M-Score Historical Data
The historical data trend for Unisem Co'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.
Unisem Co Beneish M-Score Chart
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Unisem Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.28 |
-2.80 |
-2.17 |
-2.20 |
-1.46 |
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Unisem Co Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-2.05 |
-1.96 |
-1.46 |
-1.95 |
-2.40 |
Competitive Comparison of Unisem Co's Beneish M-Score
For the Semiconductor Equipment & Materials subindustry, Unisem Co'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.
Unisem Co's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Unisem Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Unisem Co's Beneish M-Score falls into.
Unisem Co 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 Unisem Co 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 * 0.9569 | + | 0.528 * 1.2928 | + | 0.404 * 0.6412 | + | 0.892 * 0.9284 | + | 0.115 * 1.2064 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.819 | + | 4.679 * 0.015159 | - | 0.327 * 0.8463 |
| = | -2.40 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was ₩42,930 Mil.
Revenue was 45062.156 + 55186.953 + 61358.997 + 62076.504 = ₩223,685 Mil.
Gross Profit was 4073.861 + 8365.658 + 6301.942 + 11335.372 = ₩30,077 Mil.
Total Current Assets was ₩164,693 Mil.
Total Assets was ₩252,427 Mil.
Property, Plant and Equipment(Net PPE) was ₩83,604 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,257 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,667 Mil.
Total Current Liabilities was ₩30,550 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,686 Mil.
Net Income was 1557.979 + 6033.1 + 1091.975 + 6297.418 = ₩14,980 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 7871.702 + 13419.253 + -9898.253 + -238.749 = ₩11,154 Mil.
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Total Receivables was ₩48,322 Mil.
Revenue was 56922.554 + 51753.688 + 57708.508 + 74553.592 = ₩240,938 Mil.
Gross Profit was 10377.629 + 8350.58 + 7906.285 + 15248.343 = ₩41,883 Mil.
Total Current Assets was ₩180,564 Mil.
Total Assets was ₩244,117 Mil.
Property, Plant and Equipment(Net PPE) was ₩57,324 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,877 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,454 Mil.
Total Current Liabilities was ₩34,816 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,019 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) |
| = | (42929.951 / 223684.61) | / | (48322.363 / 240938.342) |
| = | 0.191922 | / | 0.200559 |
| | = | 0.9569 |
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) |
| = | (41882.837 / 240938.342) | / | (30076.833 / 223684.61) |
| = | 0.173832 | / | 0.134461 |
| | = | 1.2928 |
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 - (164692.873 + 83603.815) / 252427.376) | / | (1 - (180563.713 + 57323.618) / 244117.181) |
| = | 0.016364 | / | 0.02552 |
| | = | 0.6412 |
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 |
| = | 223684.61 | / | 240938.342 |
| | = | 0.9284 |
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)) |
| = | (1877.053 / (1877.053 + 57323.618)) | / | (2256.565 / (2256.565 + 83603.815)) |
| = | 0.031707 | / | 0.026282 |
| | = | 1.2064 |
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) |
| = | (5667.269 / 223684.61) | / | (7453.706 / 240938.342) |
| = | 0.025336 | / | 0.030936 |
| | = | 0.819 |
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) |
| = | ((1686.01 + 30550.24) / 252427.376) | / | ((2019.452 + 34816.386) / 244117.181) |
| = | 0.127705 | / | 0.150894 |
| | = | 0.8463 |
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 |
| = | (14980.472 - 0 | - | 11153.953) | / | 252427.376 |
| | = | 0.015159 |
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.
Unisem Co has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.
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