Patrick Industries, Inc. — Earnings Quality Grade F
PATK · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 16 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 6.3%, CFFO 0.8%. Cash follows revenue
Expense Quality
Inventory 7.9% vs COGS 5.5%. Normal
CapEx growth -15.5% vs revenue 6.3%. Normal
SG&A/Gross Profit = 59.1%. Normal
Gross margin 23.1%, change +0.6pp. Stable
Cash Flow Quality
CFFO/NI = 2.44. Profits backed by cash
FCF $0.2B, FCF/NI = 1.79
Accruals ratio = -6.3%. Low accruals
Cash $0.0B covers only 2% of debt $1.5B
Balance Sheet Health
Goodwill+Intangibles $1.6B = 134% of equity. Over 50%
Debt/EBITDA = 3.5x. Healthy
Other assets 1.5% vs revenue 6.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.66 (< -2.22). Unlikely manipulator
Portfolio monitoring
Monitor PATK continuously
The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25