Urban One Beneish M-Score Historical Data
The historical data trend for Urban One'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.
Urban One Beneish M-Score Chart
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Urban One Annual Data
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Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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-2.10 |
-2.69 |
-2.46 |
-2.47 |
-2.40 |
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Urban One Quarterly Data
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Dec18 |
Mar19 |
Jun19 |
Sep19 |
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Mar20 |
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
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Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
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-2.55 |
-2.40 |
-2.41 |
-2.66 |
-2.55 |
Competitive Comparison of Urban One's Beneish M-Score
For the Broadcasting subindustry, Urban One'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.
Urban One's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Urban One's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Urban One's Beneish M-Score falls into.
Urban One 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 Urban One 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 * 1.0144 | + | 0.528 * 1.0282 | + | 0.404 * 0.8599 | + | 0.892 * 1.0168 | + | 0.115 * 0.9699 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0672 | + | 4.679 * -0.01032 | - | 0.327 * 0.9781 |
| = | -2.55 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was $131.3 Mil.
Revenue was 117.825 + 129.652 + 109.869 + 132.566 = $489.9 Mil.
Gross Profit was 83.912 + 97.098 + 75.952 + 96.289 = $353.3 Mil.
Total Current Assets was $393.5 Mil.
Total Assets was $1,192.1 Mil.
Property, Plant and Equipment(Net PPE) was $59.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $71.8 Mil.
Selling, General, & Admin. Expense(SGA) was $233.2 Mil.
Total Current Liabilities was $105.5 Mil.
Long-Term Debt & Capital Lease Obligation was $736.2 Mil.
Net Income was -54.411 + 70.366 + -2.922 + 1.078 = $14.1 Mil.
Non Operating Income was -85.373 + 74.692 + -14.731 + -4.951 = $-30.4 Mil.
Cash Flow from Operations was 1.527 + 24.671 + 17.104 + 13.474 = $56.8 Mil.
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Total Receivables was $127.3 Mil.
Revenue was 121.25 + 118.657 + 112.131 + 129.789 = $481.8 Mil.
Gross Profit was 91.76 + 90.306 + 83.613 + 91.54 = $357.2 Mil.
Total Current Assets was $287.1 Mil.
Total Assets was $1,250.7 Mil.
Property, Plant and Equipment(Net PPE) was $61.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $69.9 Mil.
Selling, General, & Admin. Expense(SGA) was $214.9 Mil.
Total Current Liabilities was $112.6 Mil.
Long-Term Debt & Capital Lease Obligation was $790.2 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) |
| = | (131.305 / 489.912) | / | (127.301 / 481.827) |
| = | 0.268018 | / | 0.264205 |
| | = | 1.0144 |
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) |
| = | (357.219 / 481.827) | / | (353.251 / 489.912) |
| = | 0.741384 | / | 0.72105 |
| | = | 1.0282 |
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 - (393.536 + 59.399) / 1192.05) | / | (1 - (287.088 + 61.787) / 1250.696) |
| = | 0.620037 | / | 0.721055 |
| | = | 0.8599 |
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 |
| = | 489.912 | / | 481.827 |
| | = | 1.0168 |
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)) |
| = | (69.876 / (69.876 + 61.787)) | / | (71.775 / (71.775 + 59.399)) |
| = | 0.530719 | / | 0.547174 |
| | = | 0.9699 |
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) |
| = | (233.167 / 489.912) | / | (214.886 / 481.827) |
| = | 0.475936 | / | 0.445982 |
| | = | 1.0672 |
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) |
| = | ((736.156 + 105.487) / 1192.05) | / | ((790.176 + 112.634) / 1250.696) |
| = | 0.706047 | / | 0.721846 |
| | = | 0.9781 |
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 |
| = | (14.111 - -30.363 | - | 56.776) | / | 1192.05 |
| | = | -0.01032 |
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.
Urban One has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
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