U2Bio Co Beneish M-Score Historical Data
The historical data trend for U2Bio 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.
U2Bio Co Beneish M-Score Chart
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U2Bio Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.51 |
-3.58 |
-1.68 |
-3.90 |
-1.66 |
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U2Bio Co Semi-Annual Data
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Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
- |
-3.90 |
- |
-1.66 |
Competitive Comparison of U2Bio Co's Beneish M-Score
For the Diagnostics & Research subindustry, U2Bio 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.
U2Bio Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, U2Bio Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where U2Bio Co's Beneish M-Score falls into.
U2Bio 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 U2Bio 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 * 1.6269 | + | 0.528 * 1.4462 | + | 0.404 * 2.0012 | + | 0.892 * 0.4462 | + | 0.115 * 0.8645 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.8959 | + | 4.679 * 0.065052 | - | 0.327 * 0.5767 |
| = | -1.66 |
* 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 ₩7,391 Mil.
Revenue was ₩30,792 Mil.
Gross Profit was ₩8,219 Mil.
Total Current Assets was ₩45,172 Mil.
Total Assets was ₩49,199 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,549 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩919 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,849 Mil.
Total Current Liabilities was ₩8,003 Mil.
Long-Term Debt & Capital Lease Obligation was ₩192 Mil.
Net Income was ₩646 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-2,555 Mil.
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Total Receivables was ₩10,183 Mil.
Revenue was ₩69,013 Mil.
Gross Profit was ₩26,639 Mil.
Total Current Assets was ₩47,873 Mil.
Total Assets was ₩51,028 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,871 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩888 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,979 Mil.
Total Current Liabilities was ₩14,634 Mil.
Long-Term Debt & Capital Lease Obligation was ₩105 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) |
| = | (7391.243 / 30792.037) | / | (10182.571 / 69013.134) |
| = | 0.240037 | / | 0.147545 |
| | = | 1.6269 |
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) |
| = | (26638.76 / 69013.134) | / | (8218.566 / 30792.037) |
| = | 0.385996 | / | 0.266906 |
| | = | 1.4462 |
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 - (45172.072 + 1548.977) / 49199.391) | / | (1 - (47873.266 + 1870.682) / 51028.368) |
| = | 0.050373 | / | 0.025171 |
| | = | 2.0012 |
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 |
| = | 30792.037 | / | 69013.134 |
| | = | 0.4462 |
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)) |
| = | (887.971 / (887.971 + 1870.682)) | / | (918.866 / (918.866 + 1548.977)) |
| = | 0.321886 | / | 0.372336 |
| | = | 0.8645 |
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) |
| = | (3849.314 / 30792.037) | / | (2979.184 / 69013.134) |
| = | 0.12501 | / | 0.043168 |
| | = | 2.8959 |
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) |
| = | ((191.958 + 8003.148) / 49199.391) | / | ((104.637 + 14634.473) / 51028.368) |
| = | 0.166569 | / | 0.288841 |
| | = | 0.5767 |
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 |
| = | (645.895 - 0 | - | -2554.6) | / | 49199.391 |
| | = | 0.065052 |
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.
U2Bio Co has a M-score of -1.66 signals that the company is likely to be a manipulator.
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