LifeStance Health Group, Inc. — Earnings Quality Grade C
LFST · Healthcare
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 25 days, change -14 days YoY
AR growth -27.4% vs revenue growth 13.9%
Revenue 13.9%, CFFO 36.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 67.5% is >2x revenue growth 13.9%
SG&A/Gross Profit = 82.9%, exceeds 70%
Gross margin 32.4%, change +0.2pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 15.1x). Non-cash charges depressing profits
FCF $0.1B, FCF/NI = 11.39
Accruals ratio = -6.2%. Low accruals
Cash $0.2B covers 52% of debt $0.5B
Balance Sheet Health
Goodwill+Intangibles $1.5B = 97% of equity. Over 50%
Debt/EBITDA = 6.0x (>4x). Financial stress
Other assets -29.8% vs revenue 13.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.96 (< -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