C

Weyco Group, Inc. — Earnings Quality Grade C

WEYS · Consumer Cyclical

Some red flags

Revenue
$276M
2025
Net Income
$23M
2025
Gross Margin
43.2%
Free Cash Flow
$36M
01

Screening Summary

14
Passed
2
Watch
1
Failed
-2.63
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 51 days, change +4 days YoY

A2AR vs Revenue Growth

AR outpaced revenue for 2 consecutive years

A3Revenue vs CFFO

Revenue -4.9%, CFFO -1.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -11.0% vs COGS -1.1%. Normal

!
B2CapEx vs Revenue

CapEx growth 26.3% is >2x revenue growth -4.9%

!
B3SG&A Ratio

SG&A/Gross Profit = 75.5%, exceeds 70%

B4Gross Margin

Gross margin 43.2%, change -2.1pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.61. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 1.54

C3Accruals Ratio

Accruals ratio = -4.4%. Low accruals

C4Cash vs Debt

Cash $0.1B covers debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 19% of equity. Manageable

D2Leverage

Debt/EBITDA = 0.3x. Healthy

D3Soft Asset Growth

Other assets 2.7% vs revenue -4.9%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -1% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.63 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-2.63
-4.0 Clean-2.22 Grey-1.78 Danger0
1.091
DSRI
AR growing faster than revenue?
1.049
GMI
Gross margin declining?
1.021
AQI
Asset quality deteriorating?
0.951
SGI
Revenue growth rate
0.933
DEPI
Depreciation slowing?
0.997
SGAI
SG&A ratio changing?
-0.0443
TATA
Accruals level
1.043
LVGI
Leverage increasing?
05

Altman Z-Score

8.76
Safe Zone
0 Distress1.102.605.0+ Safe
0.4905
Liquidity
0.5316
Cumulative profit
0.1002
Operating efficiency
2.9909
Leverage

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