Utz Brands Beneish M-Score Historical Data
The historical data trend for Utz Brands'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.
|
Utz Brands Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
|
- |
-0.73 |
-1.84 |
-2.52 |
-2.67 |
|
Utz Brands Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.52 |
-2.64 |
-2.67 |
-2.70 |
-2.67 |
Competitive Comparison
For the Packaged Foods subindustry, Utz Brands'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.
Utz Brands Beneish M-Score Distribution
For the Consumer Packaged Goods industry and Consumer Defensive sector, Utz Brands's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Utz Brands's Beneish M-Score falls into.
Utz Brands 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 Utz Brands 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 * 0.9398 | + | 0.528 * 1.0046 | + | 0.404 * 1.0228 | + | 0.892 * 1.0212 | + | 0.115 * 1.007 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9544 | + | 4.679 * -0.036234 | - | 0.327 * 1.0218 |
| = | -2.67 |
* 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 $140 Mil.
Revenue was 352.099 + 371.852 + 362.853 + 351.433 = $1,438 Mil.
Gross Profit was 115.328 + 119.269 + 117.393 + 104.496 = $456 Mil.
Total Current Assets was $328 Mil.
Total Assets was $2,747 Mil.
Property, Plant and Equipment(Net PPE) was $319 Mil.
Depreciation, Depletion and Amortization(DDA) was $79 Mil.
Selling, General, & Admin. Expense(SGA) was $433 Mil.
Total Current Liabilities was $231 Mil.
Long-Term Debt & Capital Lease Obligation was $942 Mil.
Net Income was -27.679 + 15.993 + -4.124 + -9.127 = $-25 Mil.
Non Operating Income was -11.616 + 7.888 + 2.801 + -1.125 = $-2 Mil.
Cash Flow from Operations was 27.51 + 53.445 + 4.128 + -8.443 = $77 Mil.
|
Total Receivables was $146 Mil.
Revenue was 354.669 + 362.818 + 350.147 + 340.767 = $1,408 Mil.
Gross Profit was 115.448 + 118.273 + 111.529 + 103.807 = $449 Mil.
Total Current Assets was $372 Mil.
Total Assets was $2,840 Mil.
Property, Plant and Equipment(Net PPE) was $345 Mil.
Depreciation, Depletion and Amortization(DDA) was $87 Mil.
Selling, General, & Admin. Expense(SGA) was $444 Mil.
Total Current Liabilities was $237 Mil.
Long-Term Debt & Capital Lease Obligation was $949 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) |
| = | (140.367 / 1438.237) | / | (146.259 / 1408.401) |
| = | 0.097597 | / | 0.103848 |
| | = | 0.9398 |
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) |
| = | (449.057 / 1408.401) | / | (456.486 / 1438.237) |
| = | 0.318842 | / | 0.317393 |
| | = | 1.0046 |
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 - (328.053 + 318.881) / 2746.736) | / | (1 - (372.186 + 345.198) / 2840.366) |
| = | 0.764472 | / | 0.747433 |
| | = | 1.0228 |
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 |
| = | 1438.237 | / | 1408.401 |
| | = | 1.0212 |
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)) |
| = | (86.801 / (86.801 + 345.198)) | / | (79.488 / (79.488 + 318.881)) |
| = | 0.200929 | / | 0.199534 |
| | = | 1.007 |
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) |
| = | (433.119 / 1438.237) | / | (444.404 / 1408.401) |
| = | 0.301146 | / | 0.315538 |
| | = | 0.9544 |
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) |
| = | ((941.613 + 230.686) / 2746.736) | / | ((949.005 + 237.433) / 2840.366) |
| = | 0.426797 | / | 0.417706 |
| | = | 1.0218 |
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 |
| = | (-24.937 - -2.052 | - | 76.64) | / | 2746.736 |
| | = | -0.036234 |
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.
Utz Brands has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
UTZ has been successfully added to your