F

Broadridge Financial Solutions, — Earnings Quality Grade F

BR · Technology

Major red flags

Revenue
$6.9B
2025
Net Income
$840M
2025
Gross Margin
31.0%
Free Cash Flow
$1.1B
01

Screening Summary

15
Passed
0
Watch
2
Failed
-2.66
M-Score
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 57 days, change -3 days YoY

A2AR vs Revenue Growth

AR growth 1.1% vs revenue growth 5.9%

A3Revenue vs CFFO

Revenue 5.9%, CFFO 10.9%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 1.7% vs revenue 5.9%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 44.4%. Normal

B4Gross Margin

Gross margin 31.0%, change +1.3pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.40. Profits backed by cash

C2Free Cash Flow

FCF $1.1B, FCF/NI = 1.26

C3Accruals Ratio

Accruals ratio = -3.9%. Low accruals

C4Cash vs Debt

Cash $0.6B covers only 16% of debt $3.5B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $4.9B = 184% of equity. Over 50%

D2Leverage

Debt/EBITDA = 2.3x. Healthy

D3Soft Asset Growth

Other assets -11.8% vs revenue 5.9%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 2% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.66 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.66
-4.0 Clean-2.22 Grey-1.78 Danger0
0.955
DSRI
AR growing faster than revenue?
0.958
GMI
Gross margin declining?
0.969
AQI
Asset quality deteriorating?
1.059
SGI
Revenue growth rate
0.985
DEPI
Depreciation slowing?
0.977
SGAI
SG&A ratio changing?
-0.0388
TATA
Accruals level
0.932
LVGI
Leverage increasing?
05

Altman Z-Score

2.85
Safe Zone
0 Distress1.102.605.0+ Safe
-0.0052
Liquidity
0.452
Cumulative profit
0.1398
Operating efficiency
0.4508
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09

Broadridge Financial Solutions, (BR) Earnings Quality Grade F — EarningsGrade