Amprius Technologies, Inc. — Earnings Quality Grade F
AMPX · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 34 days (86 → 120)
AR outpaced revenue for 2 consecutive years
Revenue grew 205.1% but CFFO only 6.7%
Expense Quality
Inventory 2.4% vs COGS 52.4%. Normal
CapEx growth 37.2% vs revenue 205.1%. Normal
SG&A/Gross Profit = 277.8%, exceeds 70%
Gross margin rose +89.3pp while AR increased and AP decreased. Fraud pattern
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.0B)
Accruals ratio = -8.2%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = -2.1x. Healthy
Other assets -8.3% vs revenue 205.1%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
No goodwill
Manipulation Score
M-Score = -4.78 (< -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