LCI Industries — Earnings Quality Grade F
LCII · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 22 days, change +2 days YoY
AR growth 22.0% exceeds revenue growth 10.2%
Revenue grew 10.2% but CFFO declined -10.6%
Expense Quality
Inventory 9.8% vs COGS 9.8%. Normal
CapEx growth 24.4% is >2x revenue growth 10.2%
SG&A/Gross Profit = 50.5%. Normal
Gross margin 23.8%, change +0.3pp. Stable
Cash Flow Quality
CFFO/NI = 1.76. Profits backed by cash
FCF $0.3B, FCF/NI = 1.48
Accruals ratio = -4.5%. Low accruals
Cash $0.2B covers only 18% of debt $1.2B
Balance Sheet Health
Goodwill+Intangibles $1.0B = 75% of equity. Over 50%
Debt/EBITDA = 3.0x. Healthy
Other assets 0.9% vs revenue 10.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 5% YoY. Normal
Manipulation Score
M-Score = -2.54 (< -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