Hecla Mining Company — Earnings Quality Grade F
HL · Basic Materials
Major red flags
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 31 days (12 → 44)
AR outpaced revenue for 2 consecutive years
Revenue 53.0%, CFFO 157.8%. Cash follows revenue
Expense Quality
Inventory 9.4% vs COGS 9.4%. Normal
CapEx growth 17.7% vs revenue 53.0%. Normal
SG&A/Gross Profit = 9.3%, excellent (<30%)
Gross margin swung +22.4pp (21.3% → 43.7%)
Cash Flow Quality
CFFO/NI = 1.75. Profits backed by cash
FCF $0.3B, FCF/NI = 0.96
Accruals ratio = -6.8%. Low accruals
Cash $0.3B covers debt $0.3B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 0.4x. Healthy
Other assets 7.7% vs revenue 53.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -0.09 (> -1.78). LIKELY 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