Excelerate Energy, Inc. — Earnings Quality Grade F
EE · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 24 days, change -25 days YoY
AR growth -30.3% vs revenue growth 44.3%
Revenue 44.3%, CFFO 88.7%. Cash follows revenue
Expense Quality
Inventory 13.1% vs COGS 53.6%. Normal
CapEx growth 43.9% vs revenue 44.3%. Normal
SG&A/Gross Profit = 23.9%, excellent (<30%)
Gross margin 32.2%, change -4.1pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 11.8x). Non-cash charges depressing profits
FCF $0.3B, FCF/NI = 7.61
Accruals ratio = -10.2%. Low accruals
Cash $0.6B covers only 40% of debt $1.4B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 87% of equity. Over 50%
Debt/EBITDA = 3.4x. Healthy
Other assets 32.9% vs revenue 44.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Insufficient data
Manipulation Score
M-Score = -2.85 (< -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