Worthington Enterprises, Inc. — Earnings Quality Grade F
WOR · Industrials
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 outpaced revenue for 2 consecutive years
Revenue -7.4%, CFFO -27.7%. Cash follows revenue
Expense Quality
Inventory growth 2.9% far exceeds COGS -13.1%, margin rising. Fraud signal
CapEx growth -39.4% vs revenue -7.4%. Normal
SG&A/Gross Profit = 84.1%, exceeds 70%
Gross margin 27.7%, change +4.8pp. Stable
Cash Flow Quality
CFFO/NI = 2.18. Profits backed by cash
FCF $0.2B, FCF/NI = 1.66
Accruals ratio = -6.7%. Low accruals
Cash $0.3B covers 77% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 60% of equity. Over 50%
Debt/EBITDA = 1.8x. Healthy
Other assets -2.9% vs revenue -7.4%. Normal
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
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25