FLEX LNG Ltd. — Earnings Quality Grade F
FLNG · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 0 days, change -1 days YoY
AR growth -72.1% vs revenue growth -2.4%
Revenue -2.4%, CFFO -23.0%. Cash follows revenue
Expense Quality
Inventory growth 86.7% exceeds COGS 10.1%
Insufficient data
SG&A/Gross Profit = 4.3%, excellent (<30%)
Gross margin swung -5.4pp (58.3% → 52.9%)
Cash Flow Quality
CFFO/NI = 1.88. Profits backed by cash
FCF $0.1B, FCF/NI = 1.88
Accruals ratio = -2.5%. Low accruals
Cash $0.4B covers only 24% of debt $1.8B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 7.6x (>4x). Interest coverage = 1.9x (<2x). Financial stress
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -3.43 (< -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