Clipper Realty Inc. — Earnings Quality Grade F
CLPR · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 21 days, change +5 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 3.0%, CFFO -29.2%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
SG&A/Gross Profit = 18.3%, excellent (<30%)
Gross margin 55.4%, change -1.7pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.0B, FCF/NI = -1.13
Accruals ratio = -3.4%. Low accruals
Cash $0.0B covers only 2% of debt $1.3B
Balance Sheet Health
Goodwill+Intangibles $0.0B = -16% of equity. Manageable
Debt/EBITDA = 39.9x (>4x). Interest coverage = 0.7x (<2x). Financial stress
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -7% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score — Not Applicable
Clipper Realty Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25