Koppers Holdings Inc. — Earnings Quality Grade F
KOP · Basic Materials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 31 days, change -3 days YoY
AR growth -17.3% vs revenue growth -10.2%
Revenue -10.2%, CFFO 2.6%. Cash follows revenue
Expense Quality
Inventory growth 1.6% far exceeds COGS -14.3%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth -28.9% vs revenue -10.2%. Normal
SG&A/Gross Profit = 34.6%. Normal
Gross margin 23.8%, change +3.6pp. Stable
Cash Flow Quality
CFFO/NI = 2.19. Profits backed by cash
FCF $0.1B, FCF/NI = 1.21
Accruals ratio = -3.5%. Low accruals
Cash $0.0B covers only 4% of debt $1.0B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 76% of equity. Over 50%
Debt/EBITDA = 4.6x (>4x). Financial stress
Other assets grew 46.2% vs revenue -10.2%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.86 (< -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