ACV Auctions Inc. — Earnings Quality Grade F
ACVA · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 95 days, change -2 days YoY
AR growth 16.9% vs revenue growth 19.2%
Revenue 19.2%, CFFO 19.6%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 30.4% vs revenue 19.2%. Normal
SG&A/Gross Profit = 59.0%. Normal
Gross margin 52.4%, change +0.2pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.0B, FCF/NI = -0.51
Accruals ratio = -13.3%. Low accruals
Cash $0.3B covers debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 81% of equity. Over 50%
Interest coverage = -6.6x (<2x). Financial stress
Other assets 20.9% vs revenue 19.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 2% YoY. Normal
Manipulation Score
M-Score = -2.98 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25