Unique Logistics International (Unique Logistics International) Beneish M-Score : -0.19 (As of May. 13, 2024)

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What is Unique Logistics International 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.

Warning Sign:

Beneish M-Score -0.19 higher than -1.78, which implies that the company might have manipulated its financial results.

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

UNQL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.43 Med: -2.2 Max: 1.15
Current: -0.19

During the past 4 years, the highest Beneish M-Score of Unique Logistics International was 1.15. The lowest was -3.43. And the median was -2.20.

Unique Logistics International Beneish M-Score Historical Data

The historical data trend for Unique Logistics International'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.

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Unique Logistics International Beneish M-Score Chart

Unique Logistics International Annual Data

Trend

May20

May21

May22

May23

Beneish M-Score

0.72

-3.25

Unique Logistics International Quarterly Data
	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Beneish M-Score	Get a 7-Day Free Trial												-3.43	-3.25	-2.54	-2.20	-0.19

Competitive Comparison of Unique Logistics International's Beneish M-Score

For the Integrated Freight & Logistics subindustry, Unique Logistics International'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.

Unique Logistics International's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Unique Logistics International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Unique Logistics International's Beneish M-Score falls into.

Unique Logistics International 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 Unique Logistics International 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 * 1.8584

0.528 * 4.5968

0.404 * 1.1188

0.892 * 0.5479

0.115 * 0.4503

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.623

4.679 * 0.028032

0.327 * 1.0201

-0.19

This Year (Feb24) TTM:

Last Year (Feb23) TTM:

Total Receivables was $45.1 Mil.
Revenue was 67.83 + 61.842 + 62.868 + 50.645 = $243.2 Mil.
Gross Profit was 0.822 + -0.697 + 0.426 + 2 = $2.6 Mil.
Total Current Assets was $57.2 Mil.
Total Assets was $105.6 Mil.
Property, Plant and Equipment(Net PPE) was $10.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.5 Mil.
Selling, General, & Admin. Expense(SGA) was $5.1 Mil.
Total Current Liabilities was $52.0 Mil.
Long-Term Debt & Capital Lease Obligation was $28.3 Mil.
Net Income was -5.962 + -2.897 + -2.231 + 0.946 = $-10.1 Mil.
Non Operating Income was -8.972 + 0.215 + 0.154 + 2.243 = $-6.4 Mil.
Cash Flow from Operations was -0.246 + 1.784 + -9.306 + 1.023 = $-6.7 Mil.

Total Receivables was $44.3 Mil.
Revenue was 49.628 + 88.837 + 136.509 + 168.848 = $443.8 Mil.
Gross Profit was 2.165 + 6.2 + 6.049 + 6.987 = $21.4 Mil.
Total Current Assets was $62.5 Mil.
Total Assets was $110.9 Mil.
Property, Plant and Equipment(Net PPE) was $12.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.4 Mil.
Selling, General, & Admin. Expense(SGA) was $5.7 Mil.
Total Current Liabilities was $72.2 Mil.
Long-Term Debt & Capital Lease Obligation was $10.5 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)
	=	(45.107 / 243.185)	/	(44.298 / 443.822)
	=	0.185484	/	0.09981
	=	1.8584

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)
	=	(21.401 / 443.822)	/	(2.551 / 243.185)
	=	0.04822	/	0.01049
	=	4.5968

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 - (57.224 + 10.218) / 105.628)	/	(1 - (62.47 + 12.623) / 110.941)
	=	0.361514	/	0.323127
	=	1.1188

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
	=	243.185	/	443.822
	=	0.5479

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))
	=	(2.358 / (2.358 + 12.623))	/	(5.491 / (5.491 + 10.218))
	=	0.157399	/	0.349545
	=	0.4503

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)
	=	(5.086 / 243.185)	/	(5.719 / 443.822)
	=	0.020914	/	0.012886
	=	1.623

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)
	=	((28.324 + 51.962) / 105.628)	/	((10.464 + 72.202) / 110.941)
	=	0.760083	/	0.745135
	=	1.0201

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
	=	(-10.144 - -6.36	-	-6.745)	/	105.628
	=	0.028032

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.

Unique Logistics International has a M-score of -0.19 signals that the company is likely to be a manipulator.

Unique Logistics International Beneish M-Score Related Terms

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Unique Logistics International (Unique Logistics International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Unique Logistics International Inc (OTCPK:UNQL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

154-09, 146th Avenue, Jamaica, NY, USA, 11434

Website

https://www.unique-logistics.com

Unique Logistics International Inc is a logistics and freight forwarding company. Its services include Air Freight, Ocean Freight, Customs Brokerage, Insurance, Domestic Distribution, and DDP and Fiscal Representation. Geographically, it derives a majority of its revenue from China, Hong Kong and Taiwan.

Executives

Migdalia Diaz	officer: Chief Operating Officer	3722 CASTEEL PARK DRIVE, MARIETTA GA 30064
Sunandan Ray	director, officer: Chief Executive Officer	320 SOUTHDOWN ROAD, LLYOD HARBOR NY 11743
Lee Patrick Man Bun	director	UNIT 05-06, 3/F, ENTERPRISE SQUARE, 9 SHEUNG YUET RD, KOWLOON BAY, KOWLOON K3 1703
David S. Briones	director	C/O PETRO RIVER OIL COMPANY, 1980 POST OAK BLVD., SUITE 2020, HOUSTON TX 77056
Sterling C. Barton	10 percent owner	823 SOUTH SIXTH STREET, SUITE 100, LAS VEGAS NV 89101
Keith S. Barton	10 percent owner	488 MADISON AVENUE, SUITE 1100, NEW YORK NY 10022
Gcnd, Inc.	10 percent owner	C/O GARY WOLF ESQ., 488 MADISON AVE., STE. 1100, NEW YORK NY 10022