CTS Corporation — Earnings Quality Grade D
CTS · Technology
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 59 days, change +4 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 5.2%, CFFO 3.9%. Cash follows revenue
Expense Quality
Inventory 1.0% vs COGS 1.9%. Normal
CapEx growth -15.6% vs revenue 5.2%. Normal
SG&A/Gross Profit = 47.5%. Normal
Gross margin 38.4%, change +2.0pp. Stable
Cash Flow Quality
CFFO/NI = 1.56. Profits backed by cash
FCF $0.1B, FCF/NI = 1.32
Accruals ratio = -4.8%. Low accruals
Cash $0.1B covers 99% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 66% of equity. Over 50%
Debt/EBITDA = 0.7x. Healthy
Other assets -16.2% vs revenue 5.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.60 (< -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