LENSAR, Inc. — Earnings Quality Grade F
LNSR · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 40 days, change -2 days YoY
AR growth 4.8% vs revenue growth 9.2%
Revenue 9.2%, CFFO -551.9%. Cash follows revenue
Expense Quality
Inventory growth 88.3% exceeds COGS 13.3%
CapEx growth -46.8% vs revenue 9.2%. Normal
SG&A/Gross Profit = 166.5%, exceeds 70%
Gross margin 46.4%, change -1.9pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -27.2%. Low accruals
Cash $0.0B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = -20% of equity. Manageable
Debt/EBITDA = -0.1x. Healthy
Other assets 5.0% vs revenue 9.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles change -15% YoY. Normal
Manipulation Score
M-Score = -4.36 (< -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