iHeartMedia, Inc. — Earnings Quality Grade F
IHRT · Communication Services
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 91 days, change -3 days YoY
AR growth -3.4% vs revenue growth 0.3%
Revenue 0.3%, CFFO 29.6%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -16.3% vs revenue 0.3%. Normal
SG&A/Gross Profit = 75.0%, exceeds 70%
Gross margin 58.3%, change -0.5pp. 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 $0.0B, FCF/NI = -0.02
Accruals ratio = -11.0%. Low accruals
Cash $0.3B covers only 5% of debt $5.8B
Balance Sheet Health
Goodwill+Intangibles $2.4B = -132% of equity. Manageable
Debt/EBITDA = 20.0x (>4x). Interest coverage = 0.5x (<2x). Financial stress
Other assets 6.1% vs revenue 0.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -15% YoY. Normal
Manipulation Score
M-Score = -3.08 (< -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