NET Power Inc. — Earnings Quality Grade F
NPWR · Industrials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
Insufficient data
AR growth -100.0% vs revenue growth -56.9%
Revenue -100.0%, CFFO -281.6%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -50.7% vs revenue -100.0%. Normal
Insufficient data
Gross margin swung +35.0pp (52.6% → 87.6%)
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.2B)
Accruals ratio = -76.3%. Low accruals
Cash $0.3B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 89% of equity. Over 50%
Debt/EBITDA = -0.0x. Healthy
Other assets -9.2% vs revenue -100.0%. Normal
Write-offs normal
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 -89% YoY. Normal
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25