USBC, INC.
USBC Technology Scientific & Technical Instruments
USBC, INC.’s revenue for fiscal 2022 (year ended September 2022) was $4.4 million. In the quarter to June 2026, EPS grew 96.9% and free cash flow grew 689.0%, each against the same quarter a year earlier.
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USBC, INC. (USBC) Beneish M-score
USBC, INC.'s Beneish M-score for fiscal 2022 cannot be worked out: no comparable prior fiscal year (a missing year or a changed year end).
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2019 | −12.14 | (24.49) |
| FY2018 | 12.35 | 26.21 |
| FY2017 | −13.86 | (13.44) |
| FY2016 | −0.42 | — |
How fiscal 2022’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | — | — | n/a | — |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | — | — | n/a | — |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index SG&A not reported — index set to 1 | 1.00 | — | Set to 1 | −0.17 |
| Total accruals to total assets | (0.96) | — | −4.47 | |
| Leverage index | — | — | n/a | — |
| Beneish M-score | n/a — no comparable prior fiscal year (a missing year or a changed year end) | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ODYS Odysight.ai Inc. compare | −4.2× |
| MLAB Mesa Laboratories, Inc. compare | −2.8× |
| ACFN Acorn Energy Inc. compare | −2.8× |
| SOTK Sono-Tek Corporation compare | −2.5× |
| GNSS Genasys Inc. compare | −2.5× |
| LGL LGL Group, Inc. (The) compare | −2.2× |
| WRAP Wrap Technologies, Inc. compare | 1.6× |
| USBC USBC, INC. | — |
| ARBE Arbe Robotics Ltd. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI