F

Alliant Energy Corporation — Earnings Quality Grade F

LNT · Utilities

Major red flags

Revenue
$4.4B
2025
Net Income
$810M
2025
Gross Margin
45.7%
Free Cash Flow
$1.2B
01

Screening Summary

10
Passed
3
Watch
1
Failed
M-Score

Management Signals

View all →
Watch2026-01-08
Manu Asthana · President and Chief Executive OfficerAppointment
CEO appointment at Grade F company
SEC
Routine2025-12-16
Alliant Energy · Senior Vice PresidentRetirement
SEC
Routine2025-12-16
Rebecca Cameron Valcq · PresidentAppointment
Standard appointment
SEC
View management analysis in LNT deep report →

Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available

02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 11 days, change +1 days YoY

!
A2AR vs Revenue Growth

AR growth 22.9% exceeds revenue growth 9.6%

A3Revenue vs CFFO

Revenue 9.6%, CFFO 0.2%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -2.4% vs COGS 7.7%. Normal

B2CapEx vs Revenue

Insufficient data

B3SG&A Ratio

Insufficient data

B4Gross Margin

Gross margin 45.7%, change +1.0pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.44. Profits backed by cash

C2Free Cash Flow

FCF $1.2B, FCF/NI = 1.44

C3Accruals Ratio

Accruals ratio = -1.4%. Low accruals

C4Cash vs Debt

Cash $0.6B covers only 5% of debt $12.1B

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

!
D2Leverage

Debt/EBITDA = 6.1x (>4x). Financial stress

D3Soft Asset Growth

Other assets 8.7% vs revenue 9.6%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

!
E1Serial Acquirer FCF

FCF after acquisitions negative for 2/3 years

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

Insufficient data

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05

Altman Z-Score

1.19
Grey Zone
0 Distress1.102.605.0+ Safe
-0.017
Liquidity
0.1698
Cumulative profit
0.0459
Operating efficiency
0.4154
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25