Asure Software Inc — Earnings Quality Grade F
ASUR · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 41 days, change -14 days YoY
AR growth -12.6% vs revenue growth 17.3%
Revenue 17.3%, CFFO 136.7%. Cash follows revenue
Expense Quality
Inventory growth 1349.2% exceeds COGS 21.2%
CapEx growth 85.9% is >2x revenue growth 17.3%
SG&A/Gross Profit = 83.7%, exceeds 70%
Gross margin 67.5%, change -1.0pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -6.7%. Low accruals
Cash $0.0B covers only 34% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 103% of equity. Over 50%
Interest coverage = -1.7x (<2x). Financial stress
Other assets 31.6% vs revenue 17.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 24% YoY. Normal
Manipulation Score
M-Score = -2.89 (< -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