Rivian Automotive, Inc. — Earnings Quality Grade F
RIVN · Consumer Cyclical
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 38 days, change +5 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 8.4%, CFFO 54.6%. Cash follows revenue
Expense Quality
Inventory -29.1% vs COGS -15.0%. Normal
CapEx growth 49.9% is >2x revenue growth 8.4%
SG&A/Gross Profit = 1277.8%, exceeds 70%
Gross margin swung +26.8pp (-24.1% → 2.7%)
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-2.5B)
Accruals ratio = -19.3%. Low accruals
Cash $6.1B covers 91% of debt $6.7B
Balance Sheet Health
No goodwill. Clean balance sheet
Interest coverage = -13.1x (<2x). Financial stress
Other assets grew 30.5% vs revenue 8.4%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
No goodwill
Manipulation Score
M-Score = -8.32 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-08