Bluelinx Holdings Inc. — Earnings Quality Grade F
BXC · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 27 days, change -1 days YoY
AR growth -3.4% vs revenue growth 0.0%
Revenue 0.0%, CFFO -29.8%. Cash follows revenue
Expense Quality
Inventory -8.4% vs COGS 1.6%. Normal
CapEx growth -32.9% vs revenue 0.0%. Normal
SG&A/Gross Profit = 84.4%, exceeds 70%
Gross margin 15.3%, change -1.3pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 273.0x). Non-cash charges depressing profits
FCF $0.0B, FCF/NI = 150.00
Accruals ratio = -3.8%. Low accruals
Cash $0.4B covers 57% of debt $0.7B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 25% of equity. Manageable
Debt/EBITDA = 9.3x (>4x). Interest coverage = 1.0x (<2x). Financial stress
Other assets grew 33.9% vs revenue 0.0%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 87% YoY
Manipulation Score
M-Score = -2.41 (< -2.22). Unlikely manipulator
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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