Xometry, Inc. — Earnings Quality Grade F
XMTR · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 52 days, change +2 days YoY
AR growth 31.6% vs revenue growth 25.9%
Revenue 25.9%, CFFO 139.6%. Cash follows revenue
Expense Quality
Inventory 0.1% vs COGS 26.7%. Normal
CapEx growth 66.8% is >2x revenue growth 25.9%
SG&A/Gross Profit = 72.2%, exceeds 70%
Gross margin 39.1%, change -0.4pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.0B)
Accruals ratio = -9.6%. Low accruals
Cash $0.2B covers 65% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 106% of equity. Over 50%
Interest coverage = -9.3x (<2x). Financial stress
Other assets grew 113.6% vs revenue 25.9%
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.70 (< -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