Unionman Technology Co Beneish M-Score Historical Data
The historical data trend for Unionman Technology Co'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.
Unionman Technology Co Beneish M-Score Chart
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Unionman Technology Co Annual Data
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| Beneish M-Score |
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-1.83 |
-2.11 |
-2.11 |
-2.46 |
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Unionman Technology Co Quarterly Data
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Jun20 |
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Mar25 |
| Beneish M-Score |
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-2.15 |
-2.57 |
-2.63 |
-2.46 |
-2.82 |
Competitive Comparison of Unionman Technology Co's Beneish M-Score
For the Communication Equipment subindustry, Unionman Technology Co'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.
Unionman Technology Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Unionman Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Unionman Technology Co's Beneish M-Score falls into.
Unionman Technology Co 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 Unionman Technology Co 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 * 0.9484 | + | 0.528 * 1.04 | + | 0.404 * 0.8649 | + | 0.892 * 1.0437 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.6955 | + | 4.679 * -0.067879 | - | 0.327 * 1.1057 |
| = | -2.82 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was ¥1,128 Mil.
Revenue was 546.257 + 629.554 + 542.033 + 674.868 = ¥2,393 Mil.
Gross Profit was 39.717 + 68.66 + 38.747 + 84.961 = ¥232 Mil.
Total Current Assets was ¥2,045 Mil.
Total Assets was ¥3,451 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,099 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥113 Mil.
Total Current Liabilities was ¥2,164 Mil.
Long-Term Debt & Capital Lease Obligation was ¥355 Mil.
Net Income was -56.484 + -36.675 + -50.711 + -58.964 = ¥-203 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 32.116 + -48.919 + -21.533 + 69.74 = ¥31 Mil.
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Total Receivables was ¥1,140 Mil.
Revenue was 661.741 + 597.737 + 416.803 + 616.141 = ¥2,292 Mil.
Gross Profit was 98.329 + 22.872 + 13.617 + 96.427 = ¥231 Mil.
Total Current Assets was ¥2,073 Mil.
Total Assets was ¥3,192 Mil.
Property, Plant and Equipment(Net PPE) was ¥791 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥155 Mil.
Total Current Liabilities was ¥1,780 Mil.
Long-Term Debt & Capital Lease Obligation was ¥327 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) |
| = | (1128.168 / 2392.712) | / | (1139.741 / 2292.422) |
| = | 0.471502 | / | 0.497178 |
| | = | 0.9484 |
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) |
| = | (231.245 / 2292.422) | / | (232.085 / 2392.712) |
| = | 0.100874 | / | 0.096997 |
| | = | 1.04 |
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 - (2044.896 + 1099.276) / 3450.82) | / | (1 - (2072.975 + 790.726) / 3191.63) |
| = | 0.088862 | / | 0.102747 |
| | = | 0.8649 |
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 |
| = | 2392.712 | / | 2292.422 |
| | = | 1.0437 |
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 / (0 + 790.726)) | / | (0 / (0 + 1099.276)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (112.542 / 2392.712) | / | (155.035 / 2292.422) |
| = | 0.047035 | / | 0.067629 |
| | = | 0.6955 |
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) |
| = | ((354.777 + 2164.135) / 3450.82) | / | ((326.636 + 1780.414) / 3191.63) |
| = | 0.729946 | / | 0.66018 |
| | = | 1.1057 |
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 |
| = | (-202.834 - 0 | - | 31.404) | / | 3450.82 |
| | = | -0.067879 |
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.
Unionman Technology Co has a M-score of -2.82 suggests that the company is unlikely to be a manipulator.
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