Ferroglobe PLC — Earnings Quality Grade C
GSM · Basic Materials
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 10 days
AR growth 1.4% vs revenue growth -18.8%
Revenue -18.8%, CFFO -78.8%. Cash follows revenue
Expense Quality
Inventory -11.8% vs COGS -7.6%. Normal
CapEx growth -20.1% vs revenue -18.8%. Normal
SG&A/Gross Profit = 122.2%, exceeds 70%
Gross margin swung -9.2pp (32.9% → 23.7%)
Cash Flow Quality
CFFO/NI = -0.30. Below 1.0
FCF is negative ($-0.0B)
Accruals ratio = -15.7%. Low accruals
Cash $0.1B covers 52% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 24% of equity. Manageable
Interest coverage = -6.9x (<2x). Financial stress
Other assets -13.8% vs revenue -18.8%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 24% YoY. Normal
Manipulation Score
M-Score = -2.94 (< -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