F

Consolidated Edison, Inc. — Earnings Quality Grade F

ED · Utilities

Major red flags

Revenue
$16.9B
2025
Net Income
$2.0B
2025
Gross Margin
53.3%
Free Cash Flow
$36M
01

Screening Summary

11
Passed
2
Watch
2
Failed
M-Score
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 56 days, change -3 days YoY

A2AR vs Revenue Growth

AR growth 5.9% vs revenue growth 10.9%

A3Revenue vs CFFO

Revenue 10.9%, CFFO 32.8%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory 9.3% vs COGS 11.6%. Normal

B2CapEx vs Revenue

CapEx growth -0.1% vs revenue 10.9%. Normal

B3SG&A Ratio

Insufficient data

B4Gross Margin

Gross margin 53.3%, change -0.3pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 2.37. Profits backed by cash

C2Free Cash Flow

FCF < 50% of Net Income for 3 years

C3Accruals Ratio

Accruals ratio = -3.7%. Low accruals

C4Cash vs Debt

Cash $1.6B covers only 6% of debt $28.4B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.4B = 2% of equity. Manageable

!
D2Leverage

Debt/EBITDA = 4.6x (>4x). Financial stress

D3Soft Asset Growth

Other assets 6.8% vs revenue 10.9%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

!
E1Serial Acquirer FCF

FCF after acquisitions negative for 2/3 years

E2Goodwill Surge

Goodwill+Intangibles change -0% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

Insufficient data

05

Altman Z-Score

1.51
Grey Zone
0 Distress1.102.605.0+ Safe
0.0018
Liquidity
0.1991
Cumulative profit
0.0513
Operating efficiency
0.4798
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10

Consolidated Edison, Inc. (ED) Earnings Quality Grade F — EarningsGrade