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.
Urban Outfitters Beneish M-Score Chart
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Urban Outfitters Annual Data
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Jan25 |
| Beneish M-Score |
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-2.64 |
-2.60 |
-2.35 |
-2.44 |
-2.46 |
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Urban Outfitters Quarterly Data
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Jul20 |
Oct20 |
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Apr25 |
| Beneish M-Score |
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-2.73 |
-2.61 |
-2.26 |
-2.46 |
-2.44 |
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 * 0.9744 | + | 0.528 * 0.9462 | + | 0.404 * 1.0937 | + | 0.892 * 1.0838 | + | 0.115 * 0.9527 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9945 | + | 4.679 * -0.006077 | - | 0.327 * 0.9668 |
| = | -2.44 |
* 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 (Apr25) TTM: | Last Year (Apr24) TTM: |
Total Receivables was $93 Mil.
Revenue was 1329.501 + 1636.12 + 1361.855 + 1351.959 = $5,679 Mil.
Gross Profit was 489.064 + 527.681 + 497.319 + 493.285 = $2,007 Mil.
Total Current Assets was $1,439 Mil.
Total Assets was $4,457 Mil.
Property, Plant and Equipment(Net PPE) was $2,320 Mil.
Depreciation, Depletion and Amortization(DDA) was $117 Mil.
Selling, General, & Admin. Expense(SGA) was $1,480 Mil.
Total Current Liabilities was $1,029 Mil.
Long-Term Debt & Capital Lease Obligation was $909 Mil.
Net Income was 108.347 + 120.301 + 102.911 + 117.485 = $449 Mil.
Non Operating Income was 9.646 + -25.403 + 7.141 + 7.429 = $-1 Mil.
Cash Flow from Operations was 33.032 + 320.472 + 18.548 + 105.263 = $477 Mil.
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Total Receivables was $88 Mil.
Revenue was 1200.732 + 1486.194 + 1281.174 + 1272.195 = $5,240 Mil.
Gross Profit was 408.385 + 434.185 + 454.407 + 455.581 = $1,753 Mil.
Total Current Assets was $1,374 Mil.
Total Assets was $4,189 Mil.
Property, Plant and Equipment(Net PPE) was $2,216 Mil.
Depreciation, Depletion and Amortization(DDA) was $106 Mil.
Selling, General, & Admin. Expense(SGA) was $1,373 Mil.
Total Current Liabilities was $1,034 Mil.
Long-Term Debt & Capital Lease Obligation was $850 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) |
| = | (93.248 / 5679.435) | / | (88.297 / 5240.295) |
| = | 0.016419 | / | 0.01685 |
| | = | 0.9744 |
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) |
| = | (1752.558 / 5240.295) | / | (2007.349 / 5679.435) |
| = | 0.334439 | / | 0.353442 |
| | = | 0.9462 |
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 - (1439.059 + 2320.388) / 4457.076) | / | (1 - (1373.726 + 2215.513) / 4188.702) |
| = | 0.156522 | / | 0.143114 |
| | = | 1.0937 |
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 |
| = | 5679.435 | / | 5240.295 |
| | = | 1.0838 |
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)) |
| = | (106.369 / (106.369 + 2215.513)) | / | (117.218 / (117.218 + 2320.388)) |
| = | 0.045812 | / | 0.048087 |
| | = | 0.9527 |
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) |
| = | (1479.982 / 5679.435) | / | (1373.118 / 5240.295) |
| = | 0.260586 | / | 0.262031 |
| | = | 0.9945 |
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) |
| = | ((909.168 + 1029.058) / 4457.076) | / | ((849.917 + 1034.224) / 4188.702) |
| = | 0.434865 | / | 0.449815 |
| | = | 0.9668 |
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 |
| = | (449.044 - -1.187 | - | 477.315) | / | 4457.076 |
| | = | -0.006077 |
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 -2.44 suggests that the company is unlikely to be a manipulator.
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