Commercial Metals Company — Earnings Quality Grade C
CMC · Industrials
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 56 days, change +3 days YoY
AR outpaced revenue for 2 consecutive years
Revenue -1.6%, CFFO -20.5%. Cash follows revenue
Expense Quality
Inventory -3.9% vs COGS 0.2%. Normal
CapEx growth 24.2% is >2x revenue growth -1.6%
SG&A/Gross Profit = 57.4%. Normal
Gross margin 15.6%, change -1.5pp. Stable
Cash Flow Quality
CFFO/NI = 8.45. Profits backed by cash
FCF $0.3B, FCF/NI = 3.69
Accruals ratio = -8.8%. Low accruals
Cash $1.0B covers 77% of debt $1.4B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 14% of equity. Manageable
Debt/EBITDA = 3.1x. Healthy
Other assets 2.8% vs revenue -1.6%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -4% YoY. Normal
Manipulation Score
M-Score = -2.91 (< -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