Uoa Development Bhd Beneish M-Score Historical Data
The historical data trend for Uoa Development Bhd'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.
Uoa Development Bhd Beneish M-Score Chart
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Uoa Development Bhd Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.54 |
-2.06 |
-3.26 |
-2.85 |
-1.41 |
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Uoa Development Bhd Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.85 |
-2.93 |
-2.68 |
-2.10 |
-1.41 |
Competitive Comparison of Uoa Development Bhd's Beneish M-Score
For the Real Estate - Development subindustry, Uoa Development Bhd'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.
Uoa Development Bhd's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Uoa Development Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Uoa Development Bhd's Beneish M-Score falls into.
Uoa Development Bhd 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 Uoa Development Bhd 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 * 1.434 | + | 0.528 * 1.2155 | + | 0.404 * 1.0187 | + | 0.892 * 1.3663 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.715 | + | 4.679 * 0.040837 | - | 0.327 * 1.0636 |
| = | -1.41 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was RM350.2 Mil.
Revenue was 234.862 + 141.366 + 99.217 + 70.253 = RM545.7 Mil.
Gross Profit was 87.792 + 43.227 + 37.168 + 27.027 = RM195.2 Mil.
Total Current Assets was RM3,646.5 Mil.
Total Assets was RM6,388.7 Mil.
Property, Plant and Equipment(Net PPE) was RM380.3 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM188.0 Mil.
Total Current Liabilities was RM490.2 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.9 Mil.
Net Income was 128.207 + 48.342 + 61.053 + 49.701 = RM287.3 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 12.566 + -4.945 + 2.031 + 16.757 = RM26.4 Mil.
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Total Receivables was RM178.7 Mil.
Revenue was 109.012 + 107.048 + 98.097 + 85.235 = RM399.4 Mil.
Gross Profit was 53.508 + 40.507 + 41.52 + 38.133 = RM173.7 Mil.
Total Current Assets was RM3,499.7 Mil.
Total Assets was RM6,081.1 Mil.
Property, Plant and Equipment(Net PPE) was RM374.4 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM192.4 Mil.
Total Current Liabilities was RM439.0 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.4 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) |
| = | (350.158 / 545.698) | / | (178.713 / 399.392) |
| = | 0.64167 | / | 0.447463 |
| | = | 1.434 |
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) |
| = | (173.668 / 399.392) | / | (195.214 / 545.698) |
| = | 0.434831 | / | 0.357733 |
| | = | 1.2155 |
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 - (3646.496 + 380.276) / 6388.657) | / | (1 - (3499.69 + 374.415) / 6081.074) |
| = | 0.3697 | / | 0.362924 |
| | = | 1.0187 |
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 |
| = | 545.698 | / | 399.392 |
| | = | 1.3663 |
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 + 374.415)) | / | (0 / (0 + 380.276)) |
| = | 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) |
| = | (187.962 / 545.698) | / | (192.414 / 399.392) |
| = | 0.344443 | / | 0.481767 |
| | = | 0.715 |
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) |
| = | ((0.931 + 490.18) / 6388.657) | / | ((0.442 + 439.047) / 6081.074) |
| = | 0.076872 | / | 0.072272 |
| | = | 1.0636 |
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 |
| = | (287.303 - 0 | - | 26.409) | / | 6388.657 |
| | = | 0.040837 |
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.
Uoa Development Bhd has a M-score of -1.41 signals that the company is likely to be a manipulator.
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