CF Industries Holdings, Inc. — Earnings Quality Grade C
CF · Basic Materials
Some red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 23 days, change -0 days YoY
AR growth 17.5% vs revenue growth 19.3%
Revenue 19.3%, CFFO 21.2%. Cash follows revenue
Expense Quality
Inventory 22.0% vs COGS 12.4%. Normal
CapEx growth 82.5% is >2x revenue growth 19.3%
SG&A/Gross Profit = 13.4%, excellent (<30%)
Gross margin 38.5%, change +3.8pp. Stable
Cash Flow Quality
CFFO/NI = 1.89. Profits backed by cash
FCF $1.8B, FCF/NI = 1.24
Accruals ratio = -9.2%. Low accruals
Cash $2.0B covers 55% of debt $3.6B
Balance Sheet Health
Goodwill+Intangibles $3.0B = 61% of equity. Over 50%
Debt/EBITDA = 1.1x. Healthy
Other assets 17.6% vs revenue 19.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.82 (< -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