Flotek Industries, Inc. — Earnings Quality Grade F
FTK · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 128 days, change -8 days YoY
AR growth 19.3% vs revenue growth 26.9%
Revenue 26.9%, CFFO 114.3%. Cash follows revenue
Expense Quality
Inventory -20.1% vs COGS 20.2%. Normal
CapEx growth 2.3% vs revenue 26.9%. Normal
SG&A/Gross Profit = 46.9%. Normal
Gross margin 25.2%, change +4.2pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF < 50% of Net Income for 3 years
Accruals ratio = 10.6%. Exceeds 10%
Cash $0.0B covers only 11% of debt $0.1B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 2.0x. Healthy
Other assets -6.1% vs revenue 26.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.02 (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