N-able, Inc. — Earnings Quality Grade F
NABL · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 36 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 9.7%, CFFO 17.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 23.3% is >2x revenue growth 9.7%
SG&A/Gross Profit = 64.6%. Normal
Gross margin swung -5.6pp (82.7% → 77.1%)
Cash Flow Quality
CFFO/NI = -5.47. Below 1.0
FCF $0.1B, FCF/NI = -3.75
Accruals ratio = -7.8%. Low accruals
Cash $0.1B covers only 26% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $1.1B = 135% of equity. Over 50%
Debt/EBITDA = 5.2x (>4x). Interest coverage = 1.0x (<2x). Financial stress
Other assets 16.7% vs revenue 9.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 3% YoY. Normal
Manipulation Score
M-Score = -2.80 (< -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