Hyliion Holdings Corp. — Earnings Quality Grade C
HYLN · Consumer Cyclical
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 51 days, change -414 days YoY
AR growth -74.6% vs revenue growth 130.3%
Revenue grew 130.3% but CFFO only 18.0%
Expense Quality
No material inventory
CapEx growth 43.7% vs revenue 130.3%. Normal
SG&A/Gross Profit = 13386.5%, exceeds 70%
Gross margin 4.9%, change -1.3pp. Stable
Cash Flow Quality
CFFO/NI = 0.81. Profits backed by cash
FCF is negative ($-0.1B)
Accruals ratio = -5.2%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = -0.1x. Healthy
Other assets -7.0% vs revenue 130.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
No goodwill
Manipulation Score
M-Score = -2.21 (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