Select Water Solutions, Inc. — Earnings Quality Grade F
WTTR · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 68 days, change -2 days YoY
AR growth -6.3% vs revenue growth -3.1%
Revenue -3.1%, CFFO -8.6%. Cash follows revenue
Expense Quality
Inventory -10.8% vs COGS -2.2%. Normal
CapEx growth 70.1% is >2x revenue growth -3.1%
SG&A/Gross Profit = 79.7%, exceeds 70%
Gross margin 14.4%, change -0.7pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 10.1x). Non-cash charges depressing profits
FCF is negative ($-0.1B)
Accruals ratio = -12.1%. Low accruals
Cash $0.0B covers only 5% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 19% of equity. Manageable
Interest coverage = 1.5x (<2x). Financial stress
Other assets -0.7% vs revenue -3.1%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 9% YoY. Normal
Manipulation Score
M-Score = -3.13 (< -2.22). Unlikely manipulator
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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