F

Prairie Operating Co. — Earnings Quality Grade F

PROP · Energy

Major red flags

Revenue
$242M
2025
Net Income
$32M
2025
Gross Margin
50.1%
Free Cash Flow
-$43M
01

Screening Summary

9
Passed
3
Watch
2
Failed
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

Insufficient data

A2AR vs Revenue Growth

Insufficient data

A3Revenue vs CFFO

Revenue 2943.8%, CFFO 1746.4%. Cash follows revenue

02

Expense Quality

!
B1Inventory vs COGS

Inventory growth 71980.0% exceeds COGS 3728.0%

B2CapEx vs Revenue

CapEx growth 574.2% vs revenue 2943.8%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 41.8%. Normal

!
B4Gross Margin

Gross margin swung -10.2pp (60.4% → 50.1%)

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 4.80. Profits backed by cash

!
C2Free Cash Flow

FCF is negative ($-0.0B)

C3Accruals Ratio

Accruals ratio = -12.9%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 0% of debt $0.4B

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

D2Leverage

Debt/EBITDA = 2.8x. Healthy

D3Soft Asset Growth

Other assets 453.3% vs revenue 2943.8%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions negative for 3 years

Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

Insufficient data

Portfolio monitoring

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05

Altman Z-Score

0.13
Distress Zone
0 Distress1.102.605.0+ Safe
-0.0488
Liquidity
-0.0929
Cumulative profit
0.0871
Operating efficiency
0.1598
Leverage

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