Energy Services of America Corp — Earnings Quality Grade F
ESOA · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 11 days
AR growth 35.9% exceeds revenue growth 16.8%
Revenue grew 16.8% but CFFO declined -77.8%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
No material inventory
CapEx growth -27.4% vs revenue 16.8%. Normal
SG&A/Gross Profit = 89.1%, exceeds 70%
Gross margin 9.4%, change -4.8pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 10.9x). Non-cash charges depressing profits
FCF < 50% of Net Income for 2 years
Accruals ratio = -1.7%. Low accruals
Cash $0.0B covers only 16% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 25% of equity. Manageable
Debt/EBITDA = 4.3x (>4x). Interest coverage = 1.3x (<2x). Financial stress
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 106% YoY
Manipulation Score
M-Score = -1.85 (grey zone)
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