UiPath Beneish M-Score Historical Data
The historical data trend for UiPath'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.
UiPath Beneish M-Score Chart
|
UiPath Annual Data
|
|
Trend |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
|
- |
- |
-2.66 |
-2.65 |
-3.04 |
|
UiPath Quarterly Data
|
|
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
Apr24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
-2.85 |
-3.11 |
-3.14 |
-3.04 |
-3.13 |
Competitive Comparison of UiPath's Beneish M-Score
For the Software - Infrastructure subindustry, UiPath'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.
UiPath's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, UiPath's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where UiPath's Beneish M-Score falls into.
UiPath 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 UiPath 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 * 0.9686 | + | 0.528 * 0.9898 | + | 0.404 * 0.8875 | + | 0.892 * 1.2271 | + | 0.115 * 0.8708 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8692 | + | 4.679 * -0.160513 | - | 0.327 * 1.0954 |
| = | -3.13 |
* 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 (Apr24) TTM: | Last Year (Apr23) TTM: |
Total Receivables was $359 Mil.
Revenue was 335.112 + 405.253 + 325.921 + 287.31 = $1,354 Mil.
Gross Profit was 279.787 + 351.903 + 276.001 + 238.323 = $1,146 Mil.
Total Current Assets was $2,469 Mil.
Total Assets was $2,845 Mil.
Property, Plant and Equipment(Net PPE) was $83 Mil.
Depreciation, Depletion and Amortization(DDA) was $22 Mil.
Selling, General, & Admin. Expense(SGA) was $971 Mil.
Total Current Liabilities was $598 Mil.
Long-Term Debt & Capital Lease Obligation was $63 Mil.
Net Income was -28.736 + 33.916 + -31.537 + -60.361 = $-87 Mil.
Non Operating Income was 10.679 + 6.284 + 13.725 + 7.472 = $38 Mil.
Cash Flow from Operations was 100.037 + 145.602 + 41.854 + 44.285 = $332 Mil.
|
Total Receivables was $302 Mil.
Revenue was 289.588 + 308.549 + 262.744 + 242.222 = $1,103 Mil.
Gross Profit was 245.921 + 260.858 + 219.976 + 197.646 = $924 Mil.
Total Current Assets was $2,257 Mil.
Total Assets was $2,643 Mil.
Property, Plant and Equipment(Net PPE) was $79 Mil.
Depreciation, Depletion and Amortization(DDA) was $18 Mil.
Selling, General, & Admin. Expense(SGA) was $911 Mil.
Total Current Liabilities was $503 Mil.
Long-Term Debt & Capital Lease Obligation was $57 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) |
| = | (358.767 / 1353.596) | / | (301.843 / 1103.103) |
| = | 0.265047 | / | 0.273631 |
| | = | 0.9686 |
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) |
| = | (924.401 / 1103.103) | / | (1146.014 / 1353.596) |
| = | 0.838001 | / | 0.846644 |
| | = | 0.9898 |
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 - (2469.198 + 83.199) / 2844.976) | / | (1 - (2257.274 + 79.186) / 2642.683) |
| = | 0.102841 | / | 0.115876 |
| | = | 0.8875 |
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 |
| = | 1353.596 | / | 1103.103 |
| | = | 1.2271 |
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)) |
| = | (17.541 / (17.541 + 79.186)) | / | (21.883 / (21.883 + 83.199)) |
| = | 0.181345 | / | 0.208247 |
| | = | 0.8708 |
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) |
| = | (971.426 / 1353.596) | / | (910.741 / 1103.103) |
| = | 0.717663 | / | 0.825617 |
| | = | 0.8692 |
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) |
| = | ((62.772 + 597.536) / 2844.976) | / | ((56.564 + 503.389) / 2642.683) |
| = | 0.232096 | / | 0.211888 |
| | = | 1.0954 |
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 |
| = | (-86.718 - 38.16 | - | 331.778) | / | 2844.976 |
| | = | -0.160513 |
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.
UiPath has a M-score of -3.13 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
PATH has been successfully added to your