Ubion Co Beneish M-Score Historical Data
The historical data trend for Ubion Co'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.
Ubion Co Beneish M-Score Chart
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Ubion Co Annual Data
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Trend |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
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- |
- |
- |
-2.17 |
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Ubion Co Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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- |
- |
-1.74 |
-2.17 |
-2.16 |
Competitive Comparison of Ubion Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Ubion Co'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.
Ubion Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ubion Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ubion Co's Beneish M-Score falls into.
Ubion Co 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 Ubion Co 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 * 1.2438 | + | 0.528 * 1.0566 | + | 0.404 * 1.0393 | + | 0.892 * 1.0048 | + | 0.115 * 1.0642 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0619 | + | 4.679 * 0.010526 | - | 0.327 * 0.9881 |
| = | -2.16 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩9,318 Mil.
Revenue was 8173.168 + 6084.501 + 7854.319 + 9616.557 = ₩31,729 Mil.
Gross Profit was 2981.568 + 2107.91 + 2908.451 + 4910.154 = ₩12,908 Mil.
Total Current Assets was ₩14,702 Mil.
Total Assets was ₩23,083 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,655 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,553 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,886 Mil.
Total Current Liabilities was ₩13,838 Mil.
Long-Term Debt & Capital Lease Obligation was ₩25 Mil.
Net Income was -225.723 + -721.603 + -48.329 + 686.933 = ₩-309 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 162.234 + 146.837 + -1681.268 + 820.509 = ₩-552 Mil.
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Total Receivables was ₩7,456 Mil.
Revenue was 8276.696 + 6976.652 + 7849.707 + 8474.627 = ₩31,578 Mil.
Gross Profit was 3247.38 + 3261.888 + 3560.445 + 3504.254 = ₩13,574 Mil.
Total Current Assets was ₩15,929 Mil.
Total Assets was ₩24,195 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,482 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,574 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,391 Mil.
Total Current Liabilities was ₩14,561 Mil.
Long-Term Debt & Capital Lease Obligation was ₩146 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) |
| = | (9318.346 / 31728.545) | / | (7456.492 / 31577.682) |
| = | 0.29369 | / | 0.236132 |
| | = | 1.2438 |
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) |
| = | (13573.967 / 31577.682) | / | (12908.083 / 31728.545) |
| = | 0.42986 | / | 0.406829 |
| | = | 1.0566 |
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 - (14701.505 + 1654.942) / 23083.439) | / | (1 - (15929.317 + 1481.563) / 24195.098) |
| = | 0.291421 | / | 0.280396 |
| | = | 1.0393 |
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 |
| = | 31728.545 | / | 31577.682 |
| | = | 1.0048 |
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)) |
| = | (1573.925 / (1573.925 + 1481.563)) | / | (1552.682 / (1552.682 + 1654.942)) |
| = | 0.515114 | / | 0.48406 |
| | = | 1.0642 |
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) |
| = | (7886.426 / 31728.545) | / | (7391.242 / 31577.682) |
| = | 0.248559 | / | 0.234065 |
| | = | 1.0619 |
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) |
| = | ((25.451 + 13838.366) / 23083.439) | / | ((146.186 + 14561.01) / 24195.098) |
| = | 0.600596 | / | 0.607859 |
| | = | 0.9881 |
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 |
| = | (-308.722 - 0 | - | -551.688) | / | 23083.439 |
| | = | 0.010526 |
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.
Ubion Co has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.
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