Uzma Bhd Beneish M-Score Historical Data
The historical data trend for Uzma 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.
Uzma Bhd Beneish M-Score Chart
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Uzma Bhd Annual Data
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Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-3.07 |
-3.17 |
-2.43 |
-2.91 |
-2.81 |
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Uzma Bhd Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.75 |
-2.64 |
-2.82 |
-2.81 |
-2.41 |
Competitive Comparison of Uzma Bhd's Beneish M-Score
For the Oil & Gas Integrated subindustry, Uzma 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.
Uzma Bhd's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Uzma Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Uzma Bhd's Beneish M-Score falls into.
Uzma 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 Uzma 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 * 0.6433 | + | 0.528 * 1.1742 | + | 0.404 * 0.8038 | + | 0.892 * 1.306 | + | 0.115 * 1.5115 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8407 | + | 4.679 * 0.01276 | - | 0.327 * 1.1161 |
| = | -2.41 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was RM306.3 Mil.
Revenue was 207.889 + 204.54 + 106.728 + 137.92 = RM657.1 Mil.
Gross Profit was 50.588 + 51.424 + 37.267 + 58.934 = RM198.2 Mil.
Total Current Assets was RM507.6 Mil.
Total Assets was RM1,615.3 Mil.
Property, Plant and Equipment(Net PPE) was RM885.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM52.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM93.2 Mil.
Total Current Liabilities was RM410.4 Mil.
Long-Term Debt & Capital Lease Obligation was RM494.7 Mil.
Net Income was 11.066 + 15.565 + 9.943 + 12.634 = RM49.2 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was -50.181 + -2.067 + 59.919 + 20.925 = RM28.6 Mil.
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Total Receivables was RM364.5 Mil.
Revenue was 151.16 + 126.46 + 86.264 + 139.247 = RM503.1 Mil.
Gross Profit was 64.885 + 25.472 + 37.886 + 49.967 = RM178.2 Mil.
Total Current Assets was RM512.7 Mil.
Total Assets was RM1,324.9 Mil.
Property, Plant and Equipment(Net PPE) was RM585.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM54.4 Mil.
Selling, General, & Admin. Expense(SGA) was RM84.9 Mil.
Total Current Liabilities was RM447.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM217.6 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) |
| = | (306.27 / 657.077) | / | (364.548 / 503.131) |
| = | 0.46611 | / | 0.724559 |
| | = | 0.6433 |
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) |
| = | (178.21 / 503.131) | / | (198.213 / 657.077) |
| = | 0.354202 | / | 0.301659 |
| | = | 1.1742 |
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 - (507.565 + 885.145) / 1615.323) | / | (1 - (512.692 + 585.088) / 1324.945) |
| = | 0.137813 | / | 0.171452 |
| | = | 0.8038 |
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 |
| = | 657.077 | / | 503.131 |
| | = | 1.306 |
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)) |
| = | (54.381 / (54.381 + 585.088)) | / | (52.77 / (52.77 + 885.145)) |
| = | 0.085041 | / | 0.056263 |
| | = | 1.5115 |
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) |
| = | (93.226 / 657.077) | / | (84.911 / 503.131) |
| = | 0.14188 | / | 0.168765 |
| | = | 0.8407 |
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) |
| = | ((494.697 + 410.421) / 1615.323) | / | ((217.597 + 447.58) / 1324.945) |
| = | 0.560333 | / | 0.502041 |
| | = | 1.1161 |
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 |
| = | (49.208 - 0 | - | 28.596) | / | 1615.323 |
| | = | 0.01276 |
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.
Uzma Bhd has a M-score of -2.41 suggests that the company is unlikely to be a manipulator.
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