Spectrum Brands Holdings, Inc. — Earnings Quality Grade F
SPB · Consumer Defensive
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 68 days, change -10 days YoY
AR growth -17.9% vs revenue growth -5.2%
Revenue -5.2%, CFFO 25.2%. Cash follows revenue
Expense Quality
Inventory -3.5% vs COGS -4.2%. Normal
CapEx growth -13.0% vs revenue -5.2%. Normal
SG&A/Gross Profit = 85.5%, exceeds 70%
Gross margin 36.7%, change -0.7pp. Stable
Cash Flow Quality
CFFO/NI = 2.04. Profits backed by cash
FCF $0.2B, FCF/NI = 1.65
Accruals ratio = -3.1%. Low accruals
Cash $0.1B covers only 19% of debt $0.7B
Balance Sheet Health
Goodwill+Intangibles $1.8B = 94% of equity. Over 50%
Debt/EBITDA = 3.0x. Healthy
Other assets grew 56.6% vs revenue -5.2%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -3% YoY. Normal
Manipulation Score
M-Score = -2.73 (< -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