Coeur Mining, Inc. — Earnings Quality Grade F
CDE · Basic Materials
Major red flags
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 3 days, change +0 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 96.4%, CFFO 409.0%. Cash follows revenue
Expense Quality
Inventory growth 87.2% far exceeds COGS 57.2%, margin rising. Fraud signal
CapEx growth 20.7% vs revenue 96.4%. Normal
SG&A/Gross Profit = 6.2%, excellent (<30%)
Gross margin swung +13.8pp (30.6% → 44.5%)
Cash Flow Quality
CFFO/NI = 1.51. Profits backed by cash
FCF $0.7B, FCF/NI = 1.14
Accruals ratio = -6.4%. Low accruals
Cash $0.6B covers debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 19% of equity. Manageable
Debt/EBITDA = 0.4x. Healthy
Other assets 2.3% vs revenue 96.4%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Insufficient data
Manipulation Score
M-Score = -1.17 (> -1.78). LIKELY MANIPULATOR
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25