Aveanna Healthcare Holdings Inc — Earnings Quality Grade F
AVAH · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 47 days, change -3 days YoY
AR growth 13.9% vs revenue growth 20.2%
Revenue 20.2%, CFFO 285.6%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 17.8% vs revenue 20.2%. Normal
SG&A/Gross Profit = 65.2%. Normal
Gross margin 33.3%, change +1.9pp. 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 $0.1B, FCF/NI = 0.53
Accruals ratio = 4.9%. Low accruals
Cash $0.2B covers only 13% of debt $1.5B
Balance Sheet Health
Goodwill+Intangibles $1.2B = 622% of equity. Over 50%
Debt/EBITDA = 5.6x (>4x). Interest coverage = 1.9x (<2x). Financial stress
Other assets -62.9% vs revenue 20.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 6% YoY. Normal
Manipulation Score
M-Score = -2.10 (grey zone)
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25