Marine Products Corporation — Earnings Quality Grade F
MPX · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 8 days, change +6 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 3.3%, CFFO -44.2%. Cash follows revenue
Expense Quality
Inventory 9.5% vs COGS 3.4%. Normal
CapEx growth -66.5% vs revenue 3.3%. Normal
SG&A/Gross Profit = 70.0%, exceeds 70%
Gross margin 19.1%, change -0.1pp. Stable
Cash Flow Quality
CFFO/NI = 1.45. Profits backed by cash
FCF $0.0B, FCF/NI = 1.31
Accruals ratio = -3.5%. Low accruals
Insufficient data
Balance Sheet Health
Goodwill+Intangibles $0.0B = 3% of equity. Manageable
Insufficient data
Other assets -0.0% vs revenue 3.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = 0.12 (> -1.78). LIKELY MANIPULATOR
Small-cap context: Beneish M-Score was calibrated on large-caps; small-cap DSO/inventory volatility mechanically inflates it.
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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