OneWater Marine Inc. — Earnings Quality Grade F
ONEW · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 6 days, change -1 days YoY
AR growth -9.0% vs revenue growth 5.6%
Revenue 5.6%, CFFO 163.4%. Cash follows revenue
Expense Quality
Inventory -8.6% vs COGS 8.1%. Normal
CapEx growth -52.5% vs revenue 5.6%. Normal
SG&A/Gross Profit = 80.4%, exceeds 70%
Gross margin 22.8%, change -1.7pp. Stable
Cash Flow Quality
CFFO/NI = -0.80. Below 1.0
FCF $0.1B, FCF/NI = -0.69
Accruals ratio = -14.7%. Low accruals
Cash $0.1B covers only 5% of debt $1.0B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 137% of equity. Over 50%
Interest coverage = 1.0x (<2x). Financial stress
Other assets grew 77.8% vs revenue 5.6%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -28% YoY. Normal
Manipulation Score
M-Score = -3.28 (< -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