Ubtech Robotics Beneish M-Score Historical Data
The historical data trend for Ubtech Robotics'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.
Ubtech Robotics Beneish M-Score Chart
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Ubtech Robotics Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-3.23 |
-1.49 |
- |
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Ubtech Robotics Semi-Annual Data
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Dec20 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
Jun24 |
Dec24 |
| Beneish M-Score |
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-3.23 |
- |
-1.49 |
- |
- |
Competitive Comparison of Ubtech Robotics's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Ubtech Robotics'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.
Ubtech Robotics's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ubtech Robotics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ubtech Robotics's Beneish M-Score falls into.
Ubtech Robotics 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 Ubtech Robotics 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 * 2.2919 | + | 0.528 * 1.2495 | + | 0.404 * 0.5961 | + | 0.892 * 1.0255 | + | 0.115 * 1.6935 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4114 | + | 4.679 * -0.049048 | - | 0.327 * 0.9139 |
| = | -1.49 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was HK$1,870 Mil.
Revenue was HK$1,155 Mil.
Gross Profit was HK$364 Mil.
Total Current Assets was HK$3,191 Mil.
Total Assets was HK$5,213 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,380 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$76 Mil.
Selling, General, & Admin. Expense(SGA) was HK$244 Mil.
Total Current Liabilities was HK$2,135 Mil.
Long-Term Debt & Capital Lease Obligation was HK$755 Mil.
Net Income was HK$-1,350 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-1,094 Mil.
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Total Receivables was HK$796 Mil.
Revenue was HK$1,126 Mil.
Gross Profit was HK$444 Mil.
Total Current Assets was HK$1,547 Mil.
Total Assets was HK$3,113 Mil.
Property, Plant and Equipment(Net PPE) was HK$924 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$90 Mil.
Selling, General, & Admin. Expense(SGA) was HK$169 Mil.
Total Current Liabilities was HK$1,524 Mil.
Long-Term Debt & Capital Lease Obligation was HK$365 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) |
| = | (1870.11 / 1154.7) | / | (795.653 / 1125.952) |
| = | 1.619564 | / | 0.706649 |
| | = | 2.2919 |
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) |
| = | (443.523 / 1125.952) | / | (364.029 / 1154.7) |
| = | 0.393909 | / | 0.315259 |
| | = | 1.2495 |
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 - (3190.812 + 1380.457) / 5212.551) | / | (1 - (1546.827 + 923.96) / 3113.403) |
| = | 0.123027 | / | 0.206403 |
| | = | 0.5961 |
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 |
| = | 1154.7 | / | 1125.952 |
| | = | 1.0255 |
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)) |
| = | (90.094 / (90.094 + 923.96)) | / | (76.429 / (76.429 + 1380.457)) |
| = | 0.088845 | / | 0.052461 |
| | = | 1.6935 |
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) |
| = | (244.46 / 1154.7) | / | (168.894 / 1125.952) |
| = | 0.211709 | / | 0.150001 |
| | = | 1.4114 |
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) |
| = | ((755.258 + 2135.171) / 5212.551) | / | ((365.349 + 1523.752) / 3113.403) |
| = | 0.554513 | / | 0.606764 |
| | = | 0.9139 |
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 |
| = | (-1349.776 - 0 | - | -1094.109) | / | 5212.551 |
| | = | -0.049048 |
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.
Ubtech Robotics has a M-score of -1.49 signals that the company is likely to be a manipulator.
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