Sonida Senior Living, Inc. — Earnings Quality Grade F
SNDA · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 18 days, change -5 days YoY
AR growth -1.9% vs revenue growth 25.2%
Revenue 25.2%, CFFO 1467.2%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 32.2% vs revenue 25.2%. Normal
SG&A/Gross Profit = 11.8%, excellent (<30%)
Gross margin 88.3%, change -0.9pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -11.3%. Low accruals
Cash $0.0B covers only 2% of debt $0.7B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 29.7x (>4x). Interest coverage = -0.3x (<2x). Financial stress
Other assets -9.4% vs revenue 25.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
No goodwill
Manipulation Score
M-Score = -3.10 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25