B&G Foods, Inc. — Earnings Quality Grade F
BGS · Consumer Defensive
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 28 days, change -4 days YoY
AR growth -18.3% vs revenue growth -5.4%
Revenue -5.4%, CFFO -22.5%. Cash follows revenue
Expense Quality
Inventory -17.7% vs COGS -5.3%. Normal
CapEx growth 12.4% vs revenue -5.4%. Normal
SG&A/Gross Profit = 48.9%. Normal
Gross margin 21.8%, change -0.0pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.1B, FCF/NI = -1.64
Accruals ratio = -5.1%. Low accruals
Cash $0.1B covers only 3% of debt $2.0B
Balance Sheet Health
Goodwill+Intangibles $1.7B = 383% of equity. Over 50%
Debt/EBITDA = 10.6x (>4x). Interest coverage = 1.2x (<2x). Financial stress
Other assets grew 31.9% vs revenue -5.4%
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -5% YoY. Normal
Manipulation Score
M-Score = -2.92 (< -2.22). Unlikely manipulator
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