United Beneish M Score

UNFI
 Stock
  

USD 46.72  1.27  2.79%   

This module uses fundamental data of United Natural to approximate the value of its Beneish M Score. United Natural M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Also, please take a look at United Natural Piotroski F Score and United Natural Altman Z Score analysis.
  
United Natural Long Term Debt to Equity is most likely to increase slightly in the upcoming years. The last year's value of Long Term Debt to Equity was reported at 1.19. The current Debt to Equity Ratio is estimated to increase to 1.44, while Total Debt is projected to decrease to roughly 246.4 M. United Natural Price to Book Value is most likely to increase slightly in the upcoming years. The preceding year's Price to Book Value was reported at 2.67. The current Price to Earnings Ratio is estimated to increase to 27.11, while Book Value per Share is projected to decrease to 12.81.
At this time, it appears that United Natural Foods is an unlikely manipulator. The earnings manipulation may begin if United Natural's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by United Natural executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of United Natural's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.94
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.0Focus
Asset QualityN/AFocus
Expense Coverage0.96Focus
Gross Margin Strengs1.06Focus
Accruals Factor0.96Focus
Depreciation Resistance0.95Focus
Net Sales Growth1.02Focus
Financial Leverage Condition1.02Focus

United Natural Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if United Natural's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense511.3 M523.8 M
Fairly Down
Decreasing
Slightly volatile
Revenues29.4 B28.9 B
Fairly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables202.4 M198.4 M
Fairly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net243 M251.3 M
Sufficiently Down
Decreasing
Slightly volatile
Operating Income329.5 M336 M
Fairly Down
Decreasing
Very volatile
Net Cash Flow from Operations497.4 M331 M
Way Up
Increasing
Slightly volatile
Liabilities Non Current124.6 M88.6 M
Significantly Up
Decreasing
Slightly volatile
Current Liabilities2.6 B2.4 B
Notably Up
Increasing
Slightly volatile
Total Liabilities6.2 B5.8 B
Notably Up
Increasing
Slightly volatile
Gross Margin15.314.4566
Notably Up
Decreasing
Slightly volatile
Depreciation Amortization and Accretion25.3 M24.7 M
Fairly Up
Decreasing
Slightly volatile
Debt Non Current44.7 M43.6 M
Fairly Up
Decreasing
Slightly volatile
Debt Current307.2 M284.7 M
Significantly Up
Increasing
Slightly volatile
Total Debt246.4 M266.4 M
Significantly Down
Decreasing
Slightly volatile
Assets Non Current455 M481.3 M
Notably Down
Decreasing
Slightly volatile
Current Assets3.9 B3.8 B
Fairly Up
Increasing
Slightly volatile
Total AssetsB7.6 B
Sufficiently Up
Increasing
Slightly volatile

United Natural Foods Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between United Natural's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards United Natural in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find United Natural's degree of accounting gimmicks and manipulations.

About United Natural Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

25.26 Million

United Natural Depreciation Amortization and Accretion is most likely to decrease significantly in the upcoming years. The last year's value of Depreciation Amortization and Accretion was reported at 24.73 Million

About United Natural Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze United Natural Foods's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of United Natural using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of United Natural Foods based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island. United Nat operates under Food Distribution classification in the United States and is traded on New York Stock Exchange. It employs 30300 people.

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Also, please take a look at United Natural Piotroski F Score and United Natural Altman Z Score analysis. Note that the United Natural Foods information on this page should be used as a complementary analysis to other United Natural's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

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When running United Natural Foods price analysis, check to measure United Natural's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy United Natural is operating at the current time. Most of United Natural's value examination focuses on studying past and present price action to predict the probability of United Natural's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move United Natural's price. Additionally, you may evaluate how the addition of United Natural to your portfolios can decrease your overall portfolio volatility.
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Is United Natural's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of United Natural. If investors know United will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about United Natural listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.1) 
Market Capitalization
2.8 B
Quarterly Revenue Growth YOY
0.08
Return On Assets
0.0328
Return On Equity
0.15
The market value of United Natural Foods is measured differently than its book value, which is the value of United that is recorded on the company's balance sheet. Investors also form their own opinion of United Natural's value that differs from its market value or its book value, called intrinsic value, which is United Natural's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because United Natural's market value can be influenced by many factors that don't directly affect United Natural's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between United Natural's value and its price as these two are different measures arrived at by different means. Investors typically determine United Natural value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, United Natural's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.