Spok Holdings, Inc. — Earnings Quality Grade C
SPOK · Healthcare
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 59 days, change +1 days YoY
AR growth 3.2% vs revenue growth 1.5%
Revenue 1.5%, CFFO 0.1%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 17.0% vs revenue 1.5%. Normal
SG&A/Gross Profit = 45.0%. Normal
Gross margin 78.7%, change -0.5pp. Stable
Cash Flow Quality
CFFO/NI = 1.82. Profits backed by cash
FCF $0.0B, FCF/NI = 1.59
Accruals ratio = -6.3%. Low accruals
Cash $0.0B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 68% of equity. Over 50%
Debt/EBITDA = 0.3x. Healthy
Other assets -56.7% vs revenue 1.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.78 (< -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