AIRO Group Holdings, Inc. — Earnings Quality Grade D
AIRO · Industrials
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 12 days
AR outpaced revenue for 2 consecutive years
Revenue 4.6%, CFFO -251.0%. Cash follows revenue
Expense Quality
Inventory 31.9% vs COGS 27.5%. Normal
CapEx growth 289.6% is >2x revenue growth 4.6%
SG&A/Gross Profit = 119.9%, exceeds 70%
Gross margin swung -7.2pp (67.1% → 59.9%)
Cash Flow Quality
CFFO/NI = 7.90. Profits backed by cash
FCF is negative ($-0.0B)
Accruals ratio = 3.7%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.7B = 89% of equity. Over 50%
Interest coverage = -2.9x (<2x). Financial stress
Other assets grew 24.5% vs revenue 4.6%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -1.95 (grey zone)
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
