DHT Holdings, Inc. — Earnings Quality Grade F
DHT · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 39 days, change +5 days YoY
AR growth -0.7% vs revenue growth -12.8%
Revenue -12.8%, CFFO -7.4%. Cash follows revenue
Expense Quality
Inventory -34.5% vs COGS -16.9%. Normal
CapEx growth 219.4% is >2x revenue growth -12.8%
SG&A/Gross Profit = 10.4%, excellent (<30%)
Gross margin 38.3%, change +3.0pp. Stable
Cash Flow Quality
CFFO/NI = 1.31. Profits backed by cash
FCF is negative ($-0.0B)
Accruals ratio = -4.1%. Low accruals
Cash $0.1B covers only 18% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 0% of equity. Manageable
Debt/EBITDA = 1.3x. Healthy
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.74 (< -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