Magnera Corporation — Earnings Quality Grade F
MAGN · Consumer Defensive
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 45 days, change -3 days YoY
AR growth -12.6% vs revenue growth -7.1%
Revenue -7.1%, CFFO 37.2%. Cash follows revenue
Expense Quality
Inventory -3.6% vs COGS -6.5%. Normal
CapEx growth -10.5% vs revenue -7.1%. Normal
SG&A/Gross Profit = 84.6%, exceeds 70%
Gross margin 9.4%, change -0.6pp. Stable
Cash Flow Quality
CFFO/NI = 0.32. Below 1.0
FCF is negative ($-0.1B)
Accruals ratio = -3.4%. Low accruals
Cash $0.1B covers only 6% of debt $0.9B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 83% of equity. Over 50%
Debt/EBITDA = 15.2x (>4x). Interest coverage = 0.3x (<2x). Financial stress
Other assets -23.4% vs revenue -7.1%. 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.
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.70 (< -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