A

Boise Cascade, L.L.C. — Earnings Quality Grade A

BCC · Basic Materials

Strong financial health

Revenue
$6.4B
2025
Net Income
$133M
2025
Gross Margin
16.5%
Free Cash Flow
$13M
01

Screening Summary

16
Passed
1
Watch
0
Failed
-2.55
M-Score

Management Signals

View all →
Routine2025-12-04
Nate Jorgensen · CEOAppointment
Standard appointment
SEC
Routine2025-12-04
Nate Jorgensen · Chief Executive OfficerRetirement
SEC
Routine2025-12-04
Tom Carlile · Chairtransition
Planned succession
SEC

Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available

02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 18 days, change +1 days YoY

A2AR vs Revenue Growth

AR growth -1.8% vs revenue growth -4.8%

A3Revenue vs CFFO

Revenue -4.8%, CFFO -42.0%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -0.9% vs COGS -0.8%. Normal

B2CapEx vs Revenue

CapEx growth 5.2% vs revenue -4.8%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 67.9%. Normal

B4Gross Margin

Gross margin 16.5%, change -3.3pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.91. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 0.10

C3Accruals Ratio

Accruals ratio = -3.7%. Low accruals

!
C4Cash vs Debt

Cash $0.5B covers 93% of debt $0.5B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.3B = 17% of equity. Manageable

D2Leverage

Debt/EBITDA = 1.4x. Healthy

D3Soft Asset Growth

Other assets -28.6% vs revenue -4.8%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 0% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.55 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.55
-4.0 Clean-2.22 Grey-1.78 Danger0
1.031
DSRI
AR growing faster than revenue?
1.203
GMI
Gross margin declining?
1.034
AQI
Asset quality deteriorating?
0.952
SGI
Revenue growth rate
0.997
DEPI
Depreciation slowing?
1.078
SGAI
SG&A ratio changing?
-0.0374
TATA
Accruals level
0.966
LVGI
Leverage increasing?
05

Altman Z-Score

6.15
Safe Zone
0 Distress1.102.605.0+ Safe
0.3582
Liquidity
0.4638
Cumulative profit
0.0622
Operating efficiency
1.7779
Leverage

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