F

Acadian Asset Management Inc. — Earnings Quality Grade F

AAMI · Financial Services

Major red flags

Revenue
$564M
2025
Net Income
$80M
2025
Gross Margin
42.7%
Free Cash Flow
-$14M
01

Screening Summary

9
Passed
4
Watch
4
Failed
-1.78
M-Score

管理层信号

最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 116 days, change -3 days YoY

A2AR vs Revenue Growth

AR growth 8.4% vs revenue growth 11.5%

A3Revenue vs CFFO

Revenue grew 11.5% but CFFO declined -104.3%

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 20.2% vs revenue 11.5%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 38.2%. Normal

B4Gross Margin

Gross margin 42.7%, change -4.6pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = -0.03. Only -3% of profit backed by cash

!
C2Free Cash Flow

FCF is negative ($-0.0B)

C3Accruals Ratio

Accruals ratio = 12.2%. Exceeds 10%

C4Cash vs Debt

Cash $0.1B covers only 39% of debt $0.3B

04

Balance Sheet Health

!
D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 33% of equity

D2Leverage

Debt/EBITDA = 1.4x. Healthy

!
D3Soft Asset Growth

Other assets grew 88.0% vs revenue 11.5%

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 0% YoY. Normal

06

Manipulation Score

!
F1Beneish M-Score

M-Score = -1.78 (grey zone)

持仓监控

把 AAMI 放进持续监控

完整检查和模型明细已经免费开放。Watchlist 用来集中盯住你的持仓;Pro 可开启季报自动重算、风险事件邮件提醒、最多 50 只持仓扫描和导出工作流。

04

Beneish M-Score

Manipulation Probability-1.78
-4.0 Clean-2.22 Grey-1.78 Danger0
0.972
DSRI
AR growing faster than revenue?
1.108
GMI
Gross margin declining?
0.871
AQI
Asset quality deteriorating?
1.115
SGI
Revenue growth rate
0.994
DEPI
Depreciation slowing?
0.969
SGAI
SG&A ratio changing?
0.1217
TATA
Accruals level
0.866
LVGI
Leverage increasing?

Altman Z-Score — Not Applicable

Acadian Asset Management 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