Build-A-Bear Workshop, Inc. — Earnings Quality Grade F
BBW · Consumer Cyclical
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 15 days, change +3 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 6.7%, CFFO 38.2%. Cash follows revenue
Expense Quality
Inventory 17.8% vs COGS 4.6%. Normal
CapEx growth 32.2% is >2x revenue growth 6.7%
SG&A/Gross Profit = 77.5%, exceeds 70%
Gross margin 55.8%, change +0.9pp. Stable
Cash Flow Quality
CFFO/NI = 1.25. Profits backed by cash
FCF $0.0B, FCF/NI = 0.76
Accruals ratio = -3.7%. Low accruals
Cash $0.0B covers only 21% of debt $0.1B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 1.6x. Healthy
Other assets 5.3% vs revenue 6.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.41 (< -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