FirstEnergy Corp. — Earnings Quality Grade F
FE · Utilities
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 23 days, change -1 days YoY
AR growth 8.3% vs revenue growth 12.0%
Revenue 12.0%, CFFO 28.0%. Cash follows revenue
Expense Quality
Inventory 5.1% vs COGS 19.6%. Normal
CapEx growth 16.7% vs revenue 12.0%. Normal
Insufficient data
Gross margin 65.3%, change -2.2pp. Stable
Cash Flow Quality
CFFO/NI = 3.63. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -4.8%. Low accruals
Cash $0.1B covers only 0% of debt $26.6B
Balance Sheet Health
Goodwill+Intangibles $5.6B = 45% of equity
Debt/EBITDA = 6.2x (>4x). Financial stress
Other assets 11.3% vs revenue 12.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10