Brightstar Lottery PLC Trading — Earnings Quality Grade F
BRSL · Consumer Cyclical
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 15 days (68 → 83)
AR outpaced revenue for 2 consecutive years
Revenue -0.0%, CFFO -109.4%. Cash follows revenue
Expense Quality
Inventory 2.7% vs COGS 5.5%. Normal
CapEx growth 112.1% is >2x revenue growth -0.0%
SG&A/Gross Profit = 26.7%, excellent (<30%)
Gross margin 50.5%, change -2.6pp. Stable
Cash Flow Quality
CFFO/NI = -0.67. Only -67% of profit backed by cash
FCF is negative ($-0.4B)
Accruals ratio = 2.7%. Low accruals
Cash $1.4B covers only 34% of debt $4.3B
Balance Sheet Health
Goodwill+Intangibles $5.8B = 658% of equity. Over 50%
Debt/EBITDA = 4.5x (>4x). Financial stress
Other assets grew 191.4% vs revenue -0.0%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 79% YoY
Manipulation Score
M-Score = -1.71 (> -1.78). LIKELY 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