AlTi Global, Inc. — Earnings Quality Grade F
ALTI · Financial Services
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 38 days (56 → 94)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR growth 117.0% exceeds revenue growth 28.5%
Revenue grew 28.5% but CFFO declined -217.7%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
No material inventory
CapEx growth -89.2% vs revenue 28.5%. Normal
SG&A/Gross Profit = 179.5%, exceeds 70%
Gross margin 25.6%, change +4.3pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.1B)
Accruals ratio = -5.8%. Low accruals
Cash $0.0B covers 66% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.8B = 137% of equity. Over 50%
Interest coverage = -213.1x (<2x). Financial stress
Other assets grew 126.1% vs revenue 28.5%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles change -3% YoY. Normal
Manipulation Score
M-Score = -2.09 (grey zone)
Beneish M-Score
Altman Z-Score — Not Applicable
AlTi Global, 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