AeroVironment, Inc. — Earnings Quality Grade F
AVAV · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 45 days, change +10 days YoY
AR growth 45.0% exceeds revenue growth 14.5%
Revenue grew 14.5% but CFFO declined -108.6%
Expense Quality
Inventory -4.0% vs COGS 16.0%. Normal
CapEx growth -6.8% vs revenue 14.5%. Normal
SG&A/Gross Profit = 49.8%. Normal
Gross margin 38.8%, change -0.8pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF < 50% of Net Income for 2 years
Accruals ratio = 4.0%. Low accruals
Cash $0.0B covers 64% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 34% of equity
Debt/EBITDA = 0.8x. Healthy
Other assets grew 143.5% vs revenue 14.5%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -12% YoY. Normal
Manipulation Score
M-Score = -2.02 (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