Haemonetics Corporation — Earnings Quality Grade F
HAE · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 54 days, change -3 days YoY
AR growth -1.9% vs revenue growth 4.0%
Revenue 4.0%, CFFO -0.0%. Cash follows revenue
Expense Quality
Inventory growth 15.1% far exceeds COGS -0.9%, margin rising. Fraud signal
CapEx growth 3.0% vs revenue 4.0%. Normal
SG&A/Gross Profit = 58.3%. Normal
Gross margin 55.0%, change +2.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.08. Profits backed by cash
FCF $0.1B, FCF/NI = 0.85
Accruals ratio = -0.6%. Low accruals
Cash $0.3B covers only 25% of debt $1.2B
Balance Sheet Health
Goodwill+Intangibles $1.1B = 129% of equity. Over 50%
Debt/EBITDA = 3.6x. Healthy
Other assets grew 20.3% vs revenue 4.0%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 9% YoY. Normal
Manipulation Score
M-Score = -2.64 (< -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