F

Albany International Corporatio — Earnings Quality Grade F

AIN · Consumer Cyclical

Major red flags

Revenue
$1.2B
2025
Net Income
-$57M
2025
Gross Margin
20.6%
Free Cash Flow
$81M
01

Screening Summary

12
Passed
3
Watch
2
Failed
-3.06
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 68 days, change -0 days YoY

A2AR vs Revenue Growth

AR growth -4.1% vs revenue growth -3.9%

A3Revenue vs CFFO

Revenue -3.9%, CFFO -30.2%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -16.6% vs COGS 13.3%. Normal

B2CapEx vs Revenue

CapEx growth -11.9% vs revenue -3.9%. Normal

!
B3SG&A Ratio

SG&A/Gross Profit = 89.5%, exceeds 70%

!
B4Gross Margin

Gross margin swung -12.0pp (32.6% → 20.6%)

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = -2.66. Below 1.0

C2Free Cash Flow

FCF $0.1B, FCF/NI = -1.41

C3Accruals Ratio

Accruals ratio = -12.2%. Low accruals

C4Cash vs Debt

Cash $0.1B covers only 24% of debt $0.5B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.2B = 25% of equity. Manageable

D2Leverage

Debt/EBITDA = 9.0x (>4x). Interest coverage = -0.9x (<2x). Financial stress

D3Soft Asset Growth

Other assets -50.8% vs revenue -3.9%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -14% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -3.06 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-3.06
-4.0 Clean-2.22 Grey-1.78 Danger0
0.997
DSRI
AR growing faster than revenue?
1.583
GMI
Gross margin declining?
0.831
AQI
Asset quality deteriorating?
0.961
SGI
Revenue growth rate
0.888
DEPI
Depreciation slowing?
1.077
SGAI
SG&A ratio changing?
-0.1221
TATA
Accruals level
1.581
LVGI
Leverage increasing?
05

Altman Z-Score

4.34
Safe Zone
0 Distress1.102.605.0+ Safe
0.2831
Liquidity
0.5681
Cumulative profit
-0.021
Operating efficiency
0.7361
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25