Unity Enterprise Holdings (HKSE:02195) Beneish M-Score : 0.00 (As of Dec. 13, 2024)

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What is Unity Enterprise Holdings 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.

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

During the past 8 years, the highest Beneish M-Score of Unity Enterprise Holdings was -0.86. The lowest was -4.16. And the median was -1.85.

Unity Enterprise Holdings Beneish M-Score Historical Data

The historical data trend for Unity Enterprise Holdings'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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Unity Enterprise Holdings Beneish M-Score Chart

Unity Enterprise Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-4.16

-1.85

-0.86

-1.74

Unity Enterprise Holdings Semi-Annual Data
	Dec16	Dec17	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial								-	-1.74	-	-	-

Competitive Comparison of Unity Enterprise Holdings's Beneish M-Score

For the Engineering & Construction subindustry, Unity Enterprise Holdings'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.

Unity Enterprise Holdings's Beneish M-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, Unity Enterprise Holdings's Beneish M-Score distribution charts can be found below:

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

Unity Enterprise Holdings 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 Unity Enterprise Holdings 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$122.0 Mil.
Revenue was HK$110.0 Mil.
Gross Profit was HK$-16.6 Mil.
Total Current Assets was HK$176.8 Mil.
Total Assets was HK$177.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$9.3 Mil.
Total Current Liabilities was HK$51.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.1 Mil.
Net Income was HK$-29.4 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-47.2 Mil.

Total Receivables was HK$191.7 Mil.
Revenue was HK$106.2 Mil.
Gross Profit was HK$9.8 Mil.
Total Current Assets was HK$253.5 Mil.
Total Assets was HK$254.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$12.0 Mil.
Total Current Liabilities was HK$99.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 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)
	=	(122.016 / 110.034)	/	(191.652 / 106.187)
	=	1.108894	/	1.804854
	=

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)
	=	(9.833 / 106.187)	/	(-16.638 / 110.034)
	=	0.092601	/	-0.151208
	=

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 - (176.781 + 0.665) / 177.446)	/	(1 - (253.537 + 0.943) / 254.48)
	=	0	/	-0
	=

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
	=	110.034	/	106.187
	=

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))
	=	(0.784 / (0.784 + 0.943))	/	(0.511 / (0.511 + 0.665))
	=	0.453966	/	0.434524
	=

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)
	=	(9.298 / 110.034)	/	(11.98 / 106.187)
	=	0.084501	/	0.11282
	=

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)
	=	((0.05 + 51.45) / 177.446)	/	((0 + 99.132) / 254.48)
	=	0.290229	/	0.389547
	=

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
	=	(-29.412 - 0	-	-47.245)	/	177.446
	=	0.100498

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.

Unity Enterprise Holdings Beneish M-Score Related Terms

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Unity Enterprise Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Unity Enterprise Holdings Ltd (HKSE:02195) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

31 Hung To Road, Unit 1002, 10th Floor, Billion Trade Centre, Kwun Tong, Kowloon, Hong Kong, HKG

Website

http://www.hongdau.com.hk

Unity Enterprise Holdings Ltd is a contractor specializing in RMAA works in Hong Kong. It undertook repair and maintenance services, involving the upkeep, restoration and improvement of existing buildings and facilities, including the services of re-roofing, external and internal walls refurbishment, floor screeding and retiling, spalling repair, scaffolding, repairing and replacement of windows and door, plastering, painting, improvement of fire services system, plumbing and drainage works. In addition, the company also provides ancillary services, such as alteration and addition work of building layout and structural works, design of new structural works and checking of structural adequacy of existing constructions and interior decoration works to the existing premises.

Executives

Harvest Land Company Limited	2101 Beneficial owner
Yeung Wing Sun	2201 Interest of corporation controlled by you
Yu So Yin	2202 Interest of your spouse
Leung Yi Man	2101 Beneficial owner
Tang Kit Yu	2202 Interest of your spouse
Hong Kong Chaoshang Group Limited	2101 Beneficial owner

Unity Enterprise Holdings Headlines

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