Arteris, Inc. — Earnings Quality Grade F
AIP · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 90 days, change -32 days YoY
AR growth -9.7% vs revenue growth 22.3%
Revenue 22.3%, CFFO 1035.1%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 328.4% is >2x revenue growth 22.3%
SG&A/Gross Profit = 73.7%, exceeds 70%
Gross margin 90.2%, change +0.6pp. 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 = -0.15
Accruals ratio = -36.1%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = -43% of equity. Manageable
Interest coverage = -171.7x (<2x). Financial stress
Other assets 33.9% vs revenue 22.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -12% YoY. Normal
Manipulation Score
M-Score = -4.34 (< -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