Cal-Maine Foods, Inc. — Earnings Quality Grade B
CALM · Consumer Defensive
Generally healthy
Screening Summary
Management Signals
Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 21 days, change -1 days YoY
AR growth 76.2% vs revenue growth 83.2%
Revenue 83.2%, CFFO 171.3%. Cash follows revenue
Expense Quality
Inventory 12.9% vs COGS 35.1%. Normal
CapEx growth 9.6% vs revenue 83.2%. Normal
SG&A/Gross Profit = 17.0%, excellent (<30%)
Gross margin swung +20.1pp (23.3% → 43.4%)
Cash Flow Quality
CFFO/NI = 1.00. Profits backed by cash
FCF $1.1B, FCF/NI = 0.87
Accruals ratio = -0.2%. Low accruals
Insufficient data
Balance Sheet Health
Goodwill+Intangibles $0.1B = 2% of equity. Manageable
Leverage manageable
Other assets 32.0% vs revenue 83.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.07 (grey zone)
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25