C

Silvercrest Asset Management Gr — Earnings Quality Grade C

SAMG · Financial Services

Some red flags

Revenue
$125M
2025
Net Income
$5M
2025
Gross Margin
33.0%
Free Cash Flow
$15M
01

Screening Summary

13
Passed
3
Watch
1
Failed
-4.15
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

DSO 13 days, change -3 days YoY

A2AR vs Revenue Growth

AR growth -20.4% vs revenue growth 1.3%

A3Revenue vs CFFO

Revenue 1.3%, CFFO -13.8%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

!
B2CapEx vs Revenue

CapEx growth 113.6% is >2x revenue growth 1.3%

!
B3SG&A Ratio

SG&A/Gross Profit = 77.5%, exceeds 70%

B4Gross Margin

Gross margin 33.0%, change -5.0pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 3.81. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 3.07

C3Accruals Ratio

Accruals ratio = -8.2%. Low accruals

C4Cash vs Debt

Cash $0.0B covers debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.1B = 155% of equity. Over 50%

D2Leverage

Debt/EBITDA = 1.8x. Healthy

!
D3Soft Asset Growth

Other assets grew 41.4% vs revenue 1.3%

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -3% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -4.15 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-4.15
-4.0 Clean-2.22 Grey-1.78 Danger0
0.786
DSRI
AR growing faster than revenue?
1.151
GMI
Gross margin declining?
1.115
AQI
Asset quality deteriorating?
1.013
SGI
Revenue growth rate
1.713
DEPI
Depreciation slowing?
1.077
SGAI
SG&A ratio changing?
-0.0824
TATA
Accruals level
4.963
LVGI
Leverage increasing?

Altman Z-Score — Not Applicable

Silvercrest Asset Management Gr is a financial company. Z-Score is designed for non-financial companies.

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