Univision Engineering (LSE:UVEL) Beneish M-Score : 0.00 (As of Jun. 05, 2024)

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What is Univision Engineering 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 Univision Engineering's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Univision Engineering was 0.00. The lowest was 0.00. And the median was 0.00.

Univision Engineering Beneish M-Score Historical Data

The historical data trend for Univision Engineering'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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Univision Engineering Beneish M-Score Chart

Univision Engineering Annual Data

Trend

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Beneish M-Score

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-1.63

-0.75

-1.87

-2.24

-9.49

Univision Engineering Semi-Annual Data
	Mar13	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22
Beneish M-Score	Get a 7-Day Free Trial															-	-2.24	-	-9.49	-

Competitive Comparison of Univision Engineering's Beneish M-Score

For the Security & Protection Services subindustry, Univision Engineering'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.

Univision Engineering's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Univision Engineering's Beneish M-Score distribution charts can be found below:

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

Univision Engineering 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 Univision Engineering 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 * 1.0273

0.528 * -0.2453

0.404 * 0.9015

0.892 * 0.3621

0.115 * 1.8144

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.3421

4.679 * -1.092346

0.327 * 2.597

-9.49

This Year (Mar22) TTM:

Last Year (Mar21) TTM:

Total Receivables was £3.71 Mil.
Revenue was £3.96 Mil.
Gross Profit was £-2.89 Mil.
Total Current Assets was £6.57 Mil.
Total Assets was £8.92 Mil.
Property, Plant and Equipment(Net PPE) was £0.46 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.22 Mil.
Selling, General, & Admin. Expense(SGA) was £1.45 Mil.
Total Current Liabilities was £10.60 Mil.
Long-Term Debt & Capital Lease Obligation was £0.14 Mil.
Net Income was £-10.27 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-0.52 Mil.

Total Receivables was £9.98 Mil.
Revenue was £10.95 Mil.
Gross Profit was £1.96 Mil.
Total Current Assets was £12.02 Mil.
Total Assets was £15.93 Mil.
Property, Plant and Equipment(Net PPE) was £0.16 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.23 Mil.
Selling, General, & Admin. Expense(SGA) was £1.71 Mil.
Total Current Liabilities was £7.36 Mil.
Long-Term Debt & Capital Lease Obligation was £0.02 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)
	=	(3.713 / 3.963)	/	(9.982 / 10.945)
	=	0.936916	/	0.912015
	=	1.0273

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)
	=	(1.959 / 10.945)	/	(-2.892 / 3.963)
	=	0.178986	/	-0.72975
	=	-0.2453

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 - (6.566 + 0.461) / 8.923)	/	(1 - (12.016 + 0.16) / 15.931)
	=	0.212485	/	0.235704
	=	0.9015

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
	=	3.963	/	10.945
	=	0.3621

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))
	=	(0.23 / (0.23 + 0.16))	/	(0.222 / (0.222 + 0.461))
	=	0.589744	/	0.325037
	=	1.8144

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)
	=	(1.451 / 3.963)	/	(1.711 / 10.945)
	=	0.366137	/	0.156327
	=	2.3421

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)
	=	((0.135 + 10.597) / 8.923)	/	((0.022 + 7.356) / 15.931)
	=	1.202735	/	0.463122
	=	2.597

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
	=	(-10.265 - 0	-	-0.518)	/	8.923
	=	-1.092346

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.

Univision Engineering has a M-score of -9.49 suggests that the company is unlikely to be a manipulator.

Univision Engineering Beneish M-Score Related Terms

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Univision Engineering (LSE:UVEL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Univision Engineering Ltd (LSE:UVEL) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

27 Shing Yip Street, Unit 201, 2nd Floor, Sunbeam Centre, Kwun Tong, Kowloon, Hong Kong, HKG

Website

https://www.uvel.com

Univision Engineering Ltd is a UK-based company engaged in the provision of surveillance and security systems. The company is involved in the supply, design, consultation installation, and maintenance of closed-circuit television (CCTV) and surveillance systems, and the sale of security system-related products. The company offers a product and services which includes Area Traffic Control & City Traffic Surveillance System, Highway, Tunnel/Bridge Toll, Traffic Monitoring & Surveillance System, Railways, Mass Transit Stations & Control Centres, Border Control Point and International Airport Immigration & Customs, Air Cargo & Container Terminals. Geographically it has a business presence across the region of Hong Kong, Macau, Taiwan, and the People's Republic of China.

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