Warrior Met Coal, Inc. — Earnings Quality Grade F
HCC · Basic Materials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 17 days (34 → 51)
AR outpaced revenue for 2 consecutive years
Revenue -14.1%, CFFO -37.6%. Cash follows revenue
Expense Quality
Inventory 13.7% vs COGS -0.7%. Normal
CapEx growth -27.9% vs revenue -14.1%. Normal
SG&A/Gross Profit = 59.0%. Normal
Gross margin swung -12.4pp (20.9% → 8.5%)
Cash Flow Quality
CFFO/NI = 4.02. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -6.2%. Low accruals
Cash $0.4B covers debt $0.3B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 1.1x. Healthy
Other assets 3.7% vs revenue -14.1%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
No goodwill
Manipulation Score
M-Score = -1.99 (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