F

Fresh Del Monte Produce, Inc. — Earnings Quality Grade F

FDP · Consumer Defensive

Major red flags

Revenue
$4.3B
2025
Net Income
$91M
2025
Gross Margin
9.2%
Free Cash Flow
$181M
01

Screening Summary

16
Passed
1
Watch
1
Failed
-2.77
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 32 days, change -2 days YoY

A2AR vs Revenue Growth

AR growth -4.3% vs revenue growth 1.0%

A3Revenue vs CFFO

Revenue 1.0%, CFFO 34.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -2.3% vs COGS 0.0%. Normal

!
B2CapEx vs Revenue

CapEx growth 23.4% is >2x revenue growth 1.0%

B3SG&A Ratio

SG&A/Gross Profit = 53.3%. Normal

B4Gross Margin

Gross margin 9.2%, change +0.9pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 2.70. Profits backed by cash

C2Free Cash Flow

FCF $0.2B, FCF/NI = 2.00

C3Accruals Ratio

Accruals ratio = -5.0%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 10% of debt $0.3B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.4B = 21% of equity. Manageable

D2Leverage

Debt/EBITDA = 1.6x. Healthy

D3Soft Asset Growth

Other assets 7.9% vs revenue 1.0%. Normal

D4Asset Impairment

Write-offs normal

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -1% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.77 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-2.77
-4.0 Clean-2.22 Grey-1.78 Danger0
0.947
DSRI
AR growing faster than revenue?
0.906
GMI
Gross margin declining?
1.047
AQI
Asset quality deteriorating?
1.01
SGI
Revenue growth rate
1.03
DEPI
Depreciation slowing?
1.07
SGAI
SG&A ratio changing?
-0.0505
TATA
Accruals level
0.913
LVGI
Leverage increasing?
05

Altman Z-Score

5.22
Safe Zone
0 Distress1.102.605.0+ Safe
0.1999
Liquidity
0.4731
Cumulative profit
0.0465
Operating efficiency
1.9598
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25