Alico, Inc. — Earnings Quality Grade F
ALCO · Consumer Defensive
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 8 days, change +2 days YoY
AR growth 31.5% exceeds revenue growth -5.5%
Revenue -5.5%, CFFO 166.0%. Cash follows revenue
Expense Quality
Inventory -86.0% vs COGS 129.3%. Normal
CapEx growth -69.2% vs revenue -5.5%. Normal
SG&A/Gross Profit = -6.1%, excellent (<30%)
Gross margin swung -315.3pp (-120.9% → -436.2%)
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 < 50% of Net Income for 2 years
Accruals ratio = -83.1%. Low accruals
Cash $0.0B covers only 45% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 2% of equity. Manageable
Interest coverage = -42.1x (<2x). Financial stress
Other assets -26.2% vs revenue -5.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -6.44 (< -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