F

Washington Trust Bancorp, Inc. — Earnings Quality Grade F

WASH · Financial Services

Major red flags

Revenue
$222M
2025
Net Income
$52M
2025
Gross Margin
Free Cash Flow
$76M
01

Screening Summary

9
Passed
0
Watch
1
Failed
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

Insufficient data

A2AR vs Revenue Growth

Insufficient data

A3Revenue vs CFFO

Revenue 127.6%, CFFO 39.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 4.6% vs revenue 127.6%. Normal

B3SG&A Ratio

Insufficient data

B4Gross Margin

Insufficient data

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.54. Profits backed by cash

C2Free Cash Flow

FCF $0.1B, FCF/NI = 1.46

C3Accruals Ratio

Accruals ratio = -0.4%. Low accruals

C4Cash vs Debt

Cash $0.1B covers only 13% of debt $0.7B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.1B = 13% of equity. Manageable

D2Leverage

Insufficient data

D3Soft Asset Growth

Insufficient data

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 2% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

Insufficient data

Portfolio monitoring

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Altman Z-Score — Not Applicable

Washington Trust Bancorp, Inc. 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