ConAgra Brands, Inc. — Earnings Quality Grade F
CAG · Consumer Defensive
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 24 days, change -2 days YoY
AR growth -11.7% vs revenue growth -3.6%
Revenue -3.6%, CFFO -16.1%. Cash follows revenue
Expense Quality
Inventory 3.4% vs COGS -1.2%. Normal
CapEx growth 0.3% vs revenue -3.6%. Normal
SG&A/Gross Profit = 51.2%. Normal
Gross margin 25.9%, change -1.8pp. Stable
Cash Flow Quality
CFFO/NI = 1.47. Profits backed by cash
FCF $1.3B, FCF/NI = 1.13
Accruals ratio = -2.6%. Low accruals
Cash $0.1B covers only 1% of debt $8.1B
Balance Sheet Health
Goodwill+Intangibles $12.9B = 145% of equity. Over 50%
Debt/EBITDA = 4.1x (>4x). Financial stress
Other assets 1.1% vs revenue -3.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.67 (< -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 · 2026-04-10