Meridian Holdings Inc. — Earnings Quality Grade D
MRDN · Communication Services
Significant concerns
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 16 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue grew 21.0% but CFFO only 6.0%
Expense Quality
Inventory 40.3% vs COGS 27.0%. Normal
CapEx growth -37.9% vs revenue 21.0%. Normal
SG&A/Gross Profit = 94.6%, exceeds 70%
Gross margin 56.6%, change -2.0pp. Stable
Cash Flow Quality
CFFO/NI = -0.28. Below 1.0
FCF $0.0B, FCF/NI = -0.13
Accruals ratio = -97.6%. Low accruals
Cash $0.0B covers 79% of debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 75% of equity. Over 50%
Interest coverage = -0.8x (<2x). Financial stress
Other assets grew 26606.0% vs revenue 21.0%
Write-offs up 1722% YoY
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -73% YoY. Normal
Manipulation Score
M-Score = -7.11 (< -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