F

Enpro Inc. — Earnings Quality Grade F

NPO · Industrials

Major red flags

Revenue
$1.1B
2025
Net Income
$41M
2025
Gross Margin
42.6%
Free Cash Flow
$153M
01

Screening Summary

12
Passed
2
Watch
3
Failed
-2.59
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 43 days, change +2 days YoY

A2AR vs Revenue Growth

AR outpaced revenue for 2 consecutive years

A3Revenue vs CFFO

Revenue 9.0%, CFFO 23.5%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory 10.8% vs COGS 8.6%. Normal

!
B2CapEx vs Revenue

CapEx growth 46.2% is >2x revenue growth 9.0%

B3SG&A Ratio

SG&A/Gross Profit = 66.3%. Normal

B4Gross Margin

Gross margin 42.6%, change +0.2pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 4.97. Profits backed by cash

C2Free Cash Flow

FCF $0.2B, FCF/NI = 3.78

C3Accruals Ratio

Accruals ratio = -6.0%. Low accruals

C4Cash vs Debt

Cash $0.1B covers only 17% of debt $0.7B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $1.9B = 122% of equity. Over 50%

D2Leverage

Debt/EBITDA = 3.4x. Healthy

D3Soft Asset Growth

Other assets 16.1% vs revenue 9.0%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

!
E1Serial Acquirer FCF

FCF after acquisitions negative for 2/3 years

E2Goodwill Surge

Goodwill+Intangibles change 12% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.59 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-2.59
-4.0 Clean-2.22 Grey-1.78 Danger0
1.061
DSRI
AR growing faster than revenue?
0.995
GMI
Gross margin declining?
1.05
AQI
Asset quality deteriorating?
1.09
SGI
Revenue growth rate
1.078
DEPI
Depreciation slowing?
1.001
SGAI
SG&A ratio changing?
-0.0603
TATA
Accruals level
0.96
LVGI
Leverage increasing?
05

Altman Z-Score

3.75
Safe Zone
0 Distress1.102.605.0+ Safe
0.0935
Liquidity
0.4468
Cumulative profit
0.0344
Operating efficiency
1.3796
Leverage

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