Astec Industries, Inc. — Earnings Quality Grade F
ASTE · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 56 days, change +10 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 8.1%, CFFO 167.0%. Cash follows revenue
Expense Quality
Inventory 10.2% vs COGS 6.0%. Normal
CapEx growth 98.5% is >2x revenue growth 8.1%
SG&A/Gross Profit = 82.5%, exceeds 70%
Gross margin 26.5%, change +1.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.58. Profits backed by cash
FCF $0.0B, FCF/NI = 0.53
Accruals ratio = -1.7%. Low accruals
Cash $0.1B covers only 21% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 35% of equity
Debt/EBITDA = 3.2x. Healthy
Other assets 20.0% vs revenue 8.1%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles surged 553% YoY
Manipulation Score
M-Score = -2.11 (grey zone)
Portfolio monitoring
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25