F

Bloomin' Brands, Inc. — Earnings Quality Grade F

BLMN · Consumer Cyclical

Major red flags

Revenue
$4.0B
2025
Net Income
$8M
2025
Gross Margin
13.3%
Free Cash Flow
$97M
01

Screening Summary

14
Passed
2
Watch
2
Failed
-2.9
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 9 days, change -1 days YoY

A2AR vs Revenue Growth

AR growth -10.8% vs revenue growth 0.1%

A3Revenue vs CFFO

Revenue 0.1%, CFFO 21.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -10.5% vs COGS 2.3%. Normal

B2CapEx vs Revenue

CapEx growth -18.5% vs revenue 0.1%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 45.3%. Normal

B4Gross Margin

Gross margin 13.3%, change -1.9pp. Stable

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO far exceeds NI (ratio 33.6x). Non-cash charges depressing profits

C2Free Cash Flow

FCF $0.1B, FCF/NI = 11.75

C3Accruals Ratio

Accruals ratio = -8.5%. Low accruals

C4Cash vs Debt

Cash $0.1B covers only 3% of debt $2.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.6B = 190% of equity. Over 50%

!
D2Leverage

Debt/EBITDA = 9.4x (>4x). Financial stress

D3Soft Asset Growth

Other assets -66.7% vs revenue 0.1%. Normal

D4Asset Impairment

Write-offs normal

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -5% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.90 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-2.9
-4.0 Clean-2.22 Grey-1.78 Danger0
0.891
DSRI
AR growing faster than revenue?
1.139
GMI
Gross margin declining?
0.978
AQI
Asset quality deteriorating?
1.001
SGI
Revenue growth rate
0.957
DEPI
Depreciation slowing?
1.085
SGAI
SG&A ratio changing?
-0.0846
TATA
Accruals level
0.898
LVGI
Leverage increasing?
05

Altman Z-Score

-2
Distress Zone
0 Distress1.102.605.0+ Safe
-0.192
Liquidity
-0.2893
Cumulative profit
0.0117
Operating efficiency
0.1177
Leverage

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