XPEL, Inc. — Earnings Quality Grade C
XPEL · Consumer Cyclical
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 13 days
AR outpaced revenue for 2 consecutive years
Revenue 13.3%, CFFO 40.0%. Cash follows revenue
Expense Quality
Inventory 10.7% vs COGS 13.2%. Normal
CapEx growth -35.3% vs revenue 13.3%. Normal
SG&A/Gross Profit = 68.8%. Normal
Gross margin 42.2%, change +0.0pp. Stable
Cash Flow Quality
CFFO/NI = 1.31. Profits backed by cash
FCF $0.1B, FCF/NI = 1.20
Accruals ratio = -4.1%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 39% of equity
Debt/EBITDA = 0.3x. Healthy
Other assets grew 312.9% vs revenue 13.3%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 38% YoY
Manipulation Score
M-Score = -2.16 (grey zone)
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