Unit4 NV (FRA:UNT) Beneish M-Score : 0.00 (As of May. 26, 2024)

View and export this data going back to . Start your Free Trial

What is Unit4 NV Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Unit4 NV's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Unit4 NV was 0.00. The lowest was -2.46. And the median was -2.46.

Unit4 NV Beneish M-Score Historical Data

The historical data trend for Unit4 NV'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.

* Premium members only.

Unit4 NV Beneish M-Score Chart

Unit4 NV Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Beneish M-Score

Get a 7-Day Free Trial

Unit4 NV Semi-Annual Data
	Dec02	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13
Beneish M-Score	Get a 7-Day Free Trial							-	-	-	-	-

Competitive Comparison of Unit4 NV's Beneish M-Score

For the Software - Application subindustry, Unit4 NV'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.

Unit4 NV's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Unit4 NV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Unit4 NV's Beneish M-Score falls into.

Unit4 NV 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 Unit4 NV for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1

0.528 * 0.9971

0.404 * 0.9889

0.892 * 1.0441

0.115 * 1.0912

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.097671

0.327 * 1.0405

-2.91

This Year (Dec13) TTM:

Last Year (Dec12) TTM:

Total Receivables was €0.0 Mil.
Revenue was €490.5 Mil.
Gross Profit was €454.6 Mil.
Total Current Assets was €123.5 Mil.
Total Assets was €578.4 Mil.
Property, Plant and Equipment(Net PPE) was €41.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €56.9 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €195.8 Mil.
Long-Term Debt & Capital Lease Obligation was €95.8 Mil.
Net Income was €16.6 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €73.1 Mil.

Total Receivables was €0.0 Mil.
Revenue was €469.8 Mil.
Gross Profit was €434.2 Mil.
Total Current Assets was €133.1 Mil.
Total Assets was €614.0 Mil.
Property, Plant and Equipment(Net PPE) was €37.1 Mil.
Depreciation, Depletion and Amortization(DDA) was €63.3 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €211.1 Mil.
Long-Term Debt & Capital Lease Obligation was €86.5 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)
	=	(0 / 490.487)	/	(0 / 469.77)
	=	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)
	=	(434.161 / 469.77)	/	(454.622 / 490.487)
	=	0.924199	/	0.926879
	=	0.9971

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 - (123.471 + 41.554) / 578.391)	/	(1 - (133.139 + 37.109) / 613.991)
	=	0.714683	/	0.722719
	=	0.9889

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
	=	490.487	/	469.77
	=	1.0441

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))
	=	(63.338 / (63.338 + 37.109))	/	(56.884 / (56.884 + 41.554))
	=	0.630561	/	0.577866
	=	1.0912

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)
	=	(0 / 490.487)	/	(0 / 469.77)
	=	0	/	0
	=	1

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)
	=	((95.762 + 195.839) / 578.391)	/	((86.456 + 211.053) / 613.991)
	=	0.504159	/	0.484549
	=	1.0405

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
	=	(16.577 - 0	-	73.069)	/	578.391
	=	-0.097671

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.

Unit4 NV has a M-score of -2.91 suggests that the company is unlikely to be a manipulator.

Unit4 NV Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Unit4 NV's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Unit4 NV (FRA:UNT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Unit4 NV (FRA:UNT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.unit4.com

Unit4 NV was founded on 1980. The Company is a cloud business software and services company that helps dynamic public sector and commercial services organizations to embrace change simply, quickly and cost effectively in a market sector that call 'Businesses Living IN Change' (BLINC). The Group incorporates a number of change embracing software brands, including UNIT4 Agresso, our flagship ERP suite for mid-sized services intensive organizations. The Company's UNIT4 Coda, best-of-class financial management software; and FinancialForce.com, the cloud enterprise applications company formed with investment from salesforce.com. Its software products and services are designed to meet the needs of an ever changing business. The Company has about 300 customers with about 80,000 active users and local installations in around 20 countries.

Unit4 NV (FRA:UNT) Headlines

No Headlines