Unisys Beneish M-Score Historical Data
The historical data trend for Unisys'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.
Unisys Beneish M-Score Chart
|
Unisys Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.55 |
0.60 |
-2.57 |
-2.75 |
-2.21 |
|
Unisys Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.58 |
-3.04 |
-2.89 |
-2.21 |
-2.36 |
Competitive Comparison of Unisys's Beneish M-Score
For the Information Technology Services subindustry, Unisys'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.
Unisys's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Unisys's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Unisys's Beneish M-Score falls into.
Unisys 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 Unisys 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 * 0.9526 | + | 0.528 * 1.1031 | + | 0.404 * 0.9746 | + | 0.892 * 0.9694 | + | 0.115 * 1.1129 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.6709 | + | 4.679 * -0.058609 | - | 0.327 * 1.0365 |
| = | -2.72 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $426 Mil.
Revenue was 487.8 + 557.6 + 464.6 + 476.8 = $1,987 Mil.
Gross Profit was 136 + 181.2 + 95.3 + 115.8 = $528 Mil.
Total Current Assets was $920 Mil.
Total Assets was $1,891 Mil.
Property, Plant and Equipment(Net PPE) was $100 Mil.
Depreciation, Depletion and Amortization(DDA) was $130 Mil.
Selling, General, & Admin. Expense(SGA) was $413 Mil.
Total Current Liabilities was $590 Mil.
Long-Term Debt & Capital Lease Obligation was $518 Mil.
Net Income was -149.5 + -165.3 + -50 + -40 = $-405 Mil.
Non Operating Income was 4.1 + -383.1 + 6.3 + -6.5 = $-379 Mil.
Cash Flow from Operations was 23.8 + 23 + -4.1 + 42.5 = $85 Mil.
|
Total Receivables was $461 Mil.
Revenue was 516.4 + 557 + 461.2 + 515 = $2,050 Mil.
Gross Profit was 159 + 189.8 + 104.3 + 148.1 = $601 Mil.
Total Current Assets was $978 Mil.
Total Assets was $2,066 Mil.
Property, Plant and Equipment(Net PPE) was $112 Mil.
Depreciation, Depletion and Amortization(DDA) was $191 Mil.
Selling, General, & Admin. Expense(SGA) was $635 Mil.
Total Current Liabilities was $653 Mil.
Long-Term Debt & Capital Lease Obligation was $516 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) |
| = | (425.7 / 1986.8) | / | (461 / 2049.6) |
| = | 0.214264 | / | 0.224922 |
| | = | 0.9526 |
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) |
| = | (601.2 / 2049.6) | / | (528.3 / 1986.8) |
| = | 0.293326 | / | 0.265905 |
| | = | 1.1031 |
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 - (920.3 + 99.6) / 1890.5) | / | (1 - (977.7 + 112.3) / 2066.4) |
| = | 0.460513 | / | 0.472513 |
| | = | 0.9746 |
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 |
| = | 1986.8 | / | 2049.6 |
| | = | 0.9694 |
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)) |
| = | (190.8 / (190.8 + 112.3)) | / | (129.7 / (129.7 + 99.6)) |
| = | 0.629495 | / | 0.565635 |
| | = | 1.1129 |
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) |
| = | (412.9 / 1986.8) | / | (634.9 / 2049.6) |
| = | 0.207822 | / | 0.309768 |
| | = | 0.6709 |
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) |
| = | ((517.8 + 590.2) / 1890.5) | / | ((515.7 + 652.8) / 2066.4) |
| = | 0.586088 | / | 0.565476 |
| | = | 1.0365 |
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 |
| = | (-404.8 - -379.2 | - | 85.2) | / | 1890.5 |
| | = | -0.058609 |
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.
Unisys has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
UIS has been successfully added to your