Advantage Solutions Inc. — Earnings Quality Grade F
ADV · Communication Services
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 61 days, change -0 days YoY
AR growth -1.3% vs revenue growth -0.7%
Revenue -0.7%, CFFO -33.9%. Cash follows revenue
Expense Quality
Inventory -28.1% vs COGS -0.4%. Normal
CapEx growth -4.4% vs revenue -0.7%. Normal
SG&A/Gross Profit = 55.8%. Normal
Gross margin 14.0%, change -0.3pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.0B, FCF/NI = -0.04
Accruals ratio = -10.4%. Low accruals
Cash $0.2B covers only 14% of debt $1.7B
Balance Sheet Health
Goodwill+Intangibles $1.4B = 259% of equity. Over 50%
Debt/EBITDA = 22.5x (>4x). Interest coverage = 0.1x (<2x). Financial stress
Other assets grew 104.7% vs revenue -0.7%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -21% YoY. Normal
Manipulation Score
M-Score = -3.00 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25