LyondellBasell Industries NV — Earnings Quality Grade F
LYB · Basic Materials
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 29 days, change -6 days YoY
AR growth -24.3% vs revenue growth -9.7%
Revenue -9.7%, CFFO -40.8%. Cash follows revenue
Expense Quality
Inventory -24.2% vs COGS -4.1%. Normal
CapEx growth 2.1% vs revenue -9.7%. Normal
SG&A/Gross Profit = 62.5%. Normal
Gross margin swung -5.4pp (13.9% → 8.5%)
Cash Flow Quality
CFFO/NI = -3.04. Below 1.0
FCF $0.4B, FCF/NI = -0.52
Accruals ratio = -8.8%. Low accruals
Cash $3.4B covers only 24% of debt $14.6B
Balance Sheet Health
Goodwill+Intangibles $1.2B = 11% of equity. Manageable
Debt/EBITDA = 12.6x (>4x). Interest coverage = 1.7x (<2x). Financial stress
Other assets -6.4% vs revenue -9.7%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -46% YoY. Normal
Manipulation Score
M-Score = -2.88 (< -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 · 2026-04-10