Inversiones Unespa Beneish M-Score Historical Data
The historical data trend for Inversiones Unespa'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.
Inversiones Unespa Beneish M-Score Chart
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Inversiones Unespa Annual Data
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Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
Dec25 |
| Beneish M-Score |
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-0.81 |
-2.10 |
-2.05 |
-2.24 |
-3.13 |
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Inversiones Unespa Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
Jun25 |
Sep25 |
Dec25 |
Mar26 |
| Beneish M-Score |
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-2.18 |
-2.93 |
-2.00 |
-3.13 |
-2.46 |
XSGO:UNESPA vs CBRE, CSGP, BEKE: Beneish M-Score Comparison
For the Real Estate Services subindustry, Inversiones Unespa'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.
Inversiones Unespa Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Inversiones Unespa's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Inversiones Unespa's Beneish M-Score falls into.
Inversiones Unespa 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 Inversiones Unespa 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 | + | 0.528 * 1.0412 | + | 0.404 * 0.9809 | + | 0.892 * 1.5684 | + | 0.115 * 0.9722 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.6831 | + | 4.679 * 0.036009 | - | 0.327 * 3.1895 |
| = | -2.46 |
* 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 (Mar26) TTM: | Last Year (Mar25) TTM: |
Total Receivables was CLP0 Mil.
Revenue was 629.937 + 336.557 + 7.127 + 418.778 = CLP1,392 Mil.
Gross Profit was 574.839 + 336.557 + 7.127 + 418.778 = CLP1,337 Mil.
Total Current Assets was CLP1,126 Mil.
Total Assets was CLP15,878 Mil.
Property, Plant and Equipment(Net PPE) was CLP102 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP3 Mil.
Selling, General, & Admin. Expense(SGA) was CLP78 Mil.
Total Current Liabilities was CLP313 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0 Mil.
Net Income was 432.069 + 306.265 + -11.539 + 359.184 = CLP1,086 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 493.552 + 251.054 + -116.008 + -114.357 = CLP514 Mil.
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Total Receivables was CLP0 Mil.
Revenue was 64.176 + 427.941 + 11.895 + 383.751 = CLP888 Mil.
Gross Profit was 64.176 + 427.941 + 11.895 + 383.751 = CLP888 Mil.
Total Current Assets was CLP598 Mil.
Total Assets was CLP11,818 Mil.
Property, Plant and Equipment(Net PPE) was CLP103 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP3 Mil.
Selling, General, & Admin. Expense(SGA) was CLP73 Mil.
Total Current Liabilities was CLP73 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0 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) |
| = | (0 / 1392.399) | / | (0 / 887.763) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (887.763 / 887.763) | / | (1337.301 / 1392.399) |
| = | 1 | / | 0.960429 |
| | = | 1.0412 |
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 - (1125.596 + 101.554) / 15877.827) | / | (1 - (597.938 + 103.477) / 11817.635) |
| = | 0.922713 | / | 0.940647 |
| | = | 0.9809 |
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 |
| = | 1392.399 | / | 887.763 |
| | = | 1.5684 |
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)) |
| = | (2.547 / (2.547 + 103.477)) | / | (2.573 / (2.573 + 101.554)) |
| = | 0.024023 | / | 0.02471 |
| | = | 0.9722 |
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) |
| = | (78.478 / 1392.399) | / | (73.251 / 887.763) |
| = | 0.056362 | / | 0.082512 |
| | = | 0.6831 |
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 + 312.626) / 15877.827) | / | ((0 + 72.948) / 11817.635) |
| = | 0.019689 | / | 0.006173 |
| | = | 3.1895 |
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 |
| = | (1085.979 - 0 | - | 514.241) | / | 15877.827 |
| | = | 0.036009 |
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.
Inversiones Unespa has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
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