F

Vitesse Energy, Inc. — Earnings Quality Grade F

VTS · Energy

Major red flags

Revenue
$274M
2025
Net Income
$25M
2025
Gross Margin
18.9%
Free Cash Flow
$43M
01

Screening Summary

14
Passed
2
Watch
1
Failed
-3.08
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 41 days, change -19 days YoY

A2AR vs Revenue Growth

AR growth -23.0% vs revenue growth 13.2%

A3Revenue vs CFFO

Revenue 13.2%, CFFO 9.9%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 10.7% vs revenue 13.2%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 66.9%. Normal

!
B4Gross Margin

Gross margin swung -11.1pp (30.0% → 18.9%)

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 6.74. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 1.69

C3Accruals Ratio

Accruals ratio = -16.2%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 1% of debt $0.1B

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

!
D2Leverage

Interest coverage = 1.7x (<2x). Financial stress

D3Soft Asset Growth

Other assets -7.8% vs revenue 13.2%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

M-Score = -3.08 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-3.08
-4.0 Clean-2.22 Grey-1.78 Danger0
0.68
DSRI
AR growing faster than revenue?
1.59
GMI
Gross margin declining?
0.828
AQI
Asset quality deteriorating?
1.132
SGI
Revenue growth rate
1
DEPI
Depreciation slowing?
0.965
SGAI
SG&A ratio changing?
-0.1624
TATA
Accruals level
0.734
LVGI
Leverage increasing?
05

Altman Z-Score

2.84
Safe Zone
0 Distress1.102.605.0+ Safe
0.001
Liquidity
-0.0023
Cumulative profit
0.0507
Operating efficiency
2.3835
Leverage

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