Primoris Services Corporation — Earnings Quality Grade D
PRIM · Industrials
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 50 days, change -11 days YoY
AR growth -3.0% vs revenue growth 19.0%
Revenue grew 19.0% but CFFO declined -7.5%
Expense Quality
No material inventory
CapEx growth 2.7% vs revenue 19.0%. Normal
SG&A/Gross Profit = 49.1%. Normal
Gross margin 10.7%, change -0.3pp. Stable
Cash Flow Quality
CFFO/NI = 1.71. Profits backed by cash
FCF $0.3B, FCF/NI = 1.24
Accruals ratio = -4.4%. Low accruals
Cash $0.5B covers 56% of debt $1.0B
Balance Sheet Health
Goodwill+Intangibles $1.0B = 62% of equity. Over 50%
Debt/EBITDA = 1.9x. Healthy
Other assets -68.8% vs revenue 19.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -2% YoY. Normal
Manipulation Score
M-Score = -2.65 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25