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Urban Outfitters (FRA:UOF) Beneish M-Score : -2.50 (As of Mar. 15, 2025)


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What is Urban Outfitters 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.

Good Sign:

Beneish M-Score -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:UOF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.14   Med: -2.62   Max: -2.35
Current: -2.5

During the past 13 years, the highest Beneish M-Score of Urban Outfitters was -2.35. The lowest was -3.14. And the median was -2.62.


Urban Outfitters Beneish M-Score Historical Data

The historical data trend for Urban Outfitters'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.

* Premium members only.

Urban Outfitters Beneish M-Score Chart

Urban Outfitters Annual Data
Trend Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.64 -2.60 -2.35 -2.44 -2.50

Urban Outfitters Quarterly Data
Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.44 -2.73 -2.61 -2.26 -2.50

Competitive Comparison of Urban Outfitters's Beneish M-Score

For the Apparel Retail subindustry, Urban Outfitters'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.


Urban Outfitters's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Urban Outfitters's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Urban Outfitters's Beneish M-Score falls into.



Urban Outfitters 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 Urban Outfitters 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 * 1.0611+0.528 * 0.9603+0.404 * 1.1016+0.892 * 1.0955+0.115 * 0.9512
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0062+4.679 * -0.028926-0.327 * 0.9594
=-2.45

* 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 (Jan25) TTM:Last Year (Jan24) TTM:
Total Receivables was €71 Mil.
Revenue was 1580.492 + 1250.183 + 1246.506 + 1119.082 = €5,196 Mil.
Gross Profit was 509.74 + 456.539 + 454.809 + 380.615 = €1,802 Mil.
Total Current Assets was €1,442 Mil.
Total Assets was €4,366 Mil.
Property, Plant and Equipment(Net PPE) was €2,196 Mil.
Depreciation, Depletion and Amortization(DDA) was €108 Mil.
Selling, General, & Admin. Expense(SGA) was €1,359 Mil.
Total Current Liabilities was €1,039 Mil.
Long-Term Debt & Capital Lease Obligation was €842 Mil.
Net Income was 116.211 + 94.472 + 108.321 + 57.565 = €377 Mil.
Non Operating Income was 5.402 + 6.555 + 6.85 + 5.821 = €25 Mil.
Cash Flow from Operations was 309.576 + 17.027 + 97.052 + 54.57 = €478 Mil.
Total Receivables was €62 Mil.
Revenue was 1364.326 + 1213.272 + 1150.064 + 1015.671 = €4,743 Mil.
Gross Profit was 398.582 + 430.323 + 411.845 + 338.563 = €1,579 Mil.
Total Current Assets was €1,177 Mil.
Total Assets was €3,774 Mil.
Property, Plant and Equipment(Net PPE) was €2,026 Mil.
Depreciation, Depletion and Amortization(DDA) was €94 Mil.
Selling, General, & Admin. Expense(SGA) was €1,233 Mil.
Total Current Liabilities was €913 Mil.
Long-Term Debt & Capital Lease Obligation was €782 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)
=(71.498 / 5196.263) / (61.513 / 4743.333)
=0.01376 / 0.012968
=1.0611

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)
=(1579.313 / 4743.333) / (1801.703 / 5196.263)
=0.332954 / 0.346731
=0.9603

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 - (1442.041 + 2196.436) / 4365.818) / (1 - (1177.338 + 2025.968) / 3774.09)
=0.166599 / 0.151238
=1.1016

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
=5196.263 / 4743.333
=1.0955

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))
=(94.417 / (94.417 + 2025.968)) / (107.875 / (107.875 + 2196.436))
=0.044528 / 0.046814
=0.9512

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)
=(1359.147 / 5196.263) / (1233.08 / 4743.333)
=0.261562 / 0.259961
=1.0062

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)
=((841.588 + 1039.106) / 4365.818) / ((782.001 + 912.68) / 3774.09)
=0.430777 / 0.44903
=0.9594

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
=(376.569 - 24.628 - 478.225) / 4365.818
=-0.028926

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.

Urban Outfitters has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.


Urban Outfitters Beneish M-Score Related Terms

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Urban Outfitters Business Description

Traded in Other Exchanges
Address
5000 South Broad Street, Philadelphia, PA, USA, 19112-1495
Founded in 1970, Philadelphia-based Urban Outfitters is an apparel and home goods retailer that operates more than 700 stores and e-commerce in the United States (87.5% of fiscal 2024 sales) and other regions. Its retail nameplates are Urban Outfitters, Free People, FP Movement, and Anthropologie. Retail accounted for 91% of fiscal 2024 revenue, but the firm also sells products through a wholesale operation, owns some restaurants, and operates a clothing rental and resale business called Nuuly (5% of sales). Urban Outfitters primarily markets to young adults and offers products in categories such as apparel (66% of sales), home goods (16% of sales), accessories (13% of sales), and more.

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