TeraWulf Inc. — Earnings Quality Grade F
WULF · Financial Services
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 3 days, change +1 days YoY
AR growth 155.2% exceeds revenue growth 20.3%
Revenue grew 20.3% but CFFO declined -404.4%
Expense Quality
No material inventory
CapEx growth 295.7% is >2x revenue growth 20.3%
SG&A/Gross Profit = 172.2%, exceeds 70%
Gross margin 50.9%, change -4.4pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-1.2B)
Accruals ratio = -8.2%. Low accruals
Cash $3.3B covers 63% of debt $5.2B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 39% of equity
Interest coverage = -2.1x (<2x). Financial stress
Other assets grew 26606.6% vs revenue 20.3%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Insufficient data
Manipulation Score
M-Score = 61.51 (> -1.78). LIKELY MANIPULATOR
Beneish M-Score
Altman Z-Score — Not Applicable
TeraWulf 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