Expand Energy Corporation — Earnings Quality Grade F
EXE · Energy
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 41 days, change -48 days YoY
AR growth 32.6% vs revenue growth 188.8%
Revenue 188.8%, CFFO 192.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 88.2% vs revenue 188.8%. Normal
SG&A/Gross Profit = 53.9%. Normal
Gross margin rose +23.8pp while AR increased and AP decreased. Fraud pattern
Cash Flow Quality
CFFO/NI = 2.52. Profits backed by cash
FCF $1.6B, FCF/NI = 0.90
Accruals ratio = -9.7%. Low accruals
Cash $0.6B covers only 12% of debt $5.1B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 0.9x. Healthy
Other assets -18.0% vs revenue 188.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.08 (grey zone)
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10