California Water Service Group — Earnings Quality Grade F
CWT · Utilities
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 23 days, change +1 days YoY
AR growth -0.1% vs revenue growth -3.5%
Revenue -3.5%, CFFO 4.0%. Cash follows revenue
Expense Quality
Inventory -3.5% vs COGS 3.7%. Normal
CapEx growth 9.8% vs revenue -3.5%. Normal
SG&A/Gross Profit = 22.0%, excellent (<30%)
Gross margin 64.3%, change -2.5pp. Stable
Cash Flow Quality
CFFO/NI = 2.36. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -3.1%. Low accruals
Cash $0.1B covers only 3% of debt $1.6B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 4% of equity. Manageable
Debt/EBITDA = 4.5x (>4x). Financial stress
Other assets 18.9% vs revenue -3.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.64 (< -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