F

ARMOUR Residential REIT, Inc. — Earnings Quality Grade F

ARR · Real Estate

Major red flags

Revenue
$332M
2025
Net Income
$323M
2025
Gross Margin
Free Cash Flow
$124M
01

Screening Summary

7
Passed
0
Watch
3
Failed
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 surged by 40469 days (-40374 → 95)

A2AR vs Revenue Growth

AR growth 62.9% vs revenue growth 69550.2%

A3Revenue vs CFFO

Revenue grew 69550.2% but CFFO declined -52.5%

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

Insufficient data

B3SG&A Ratio

Insufficient data

B4Gross Margin

Insufficient data

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO < Net Income for 3 consecutive years

C2Free Cash Flow

FCF $0.1B, FCF/NI = 0.38

C3Accruals Ratio

Accruals ratio = 0.9%. Low accruals

C4Cash vs Debt

Insufficient data

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

D2Leverage

Insufficient data

D3Soft Asset Growth

Insufficient data

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

Insufficient data

Portfolio monitoring

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Altman Z-Score — Not Applicable

ARMOUR Residential REIT, Inc. is a financial company. Z-Score is designed for non-financial companies.

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