Coursera, Inc. — Earnings Quality Grade F
COUR · Consumer Defensive
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 28 days, change -1 days YoY
AR growth 4.7% vs revenue growth 9.0%
Revenue 9.0%, CFFO 13.9%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 4.3% vs revenue 9.0%. Normal
SG&A/Gross Profit = 89.5%, exceeds 70%
Gross margin 54.6%, change +1.1pp. 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 $0.1B, FCF/NI = -1.75
Accruals ratio = -16.0%. Low accruals
Insufficient data
Balance Sheet Health
Goodwill+Intangibles $0.0B = 4% of equity. Manageable
Insufficient data
Other assets -17.8% vs revenue 9.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 11% YoY. Normal
Manipulation Score
M-Score = -3.25 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25