F

Alpine Income Property Trust, I — Earnings Quality Grade F

PINE · Real Estate

Major red flags

Revenue
$61M
2025
Net Income
-$3M
2025
Gross Margin
79.6%
Free Cash Flow
$26M
01

Screening Summary

12
Passed
2
Watch
3
Failed
-3.06
M-Score

管理层信号

最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 5 days, change -5 days YoY

A2AR vs Revenue Growth

AR growth -41.4% vs revenue growth 15.9%

A3Revenue vs CFFO

Revenue 15.9%, CFFO 9.9%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

Insufficient data

B3SG&A Ratio

SG&A/Gross Profit = 4.8%, excellent (<30%)

B4Gross Margin

Gross margin 79.6%, change +2.6pp. Stable

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = -9.69. Below 1.0

C2Free Cash Flow

FCF $0.0B, FCF/NI = -9.69

C3Accruals Ratio

Accruals ratio = -4.0%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 1% of debt $0.4B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 17% of equity. Manageable

D2Leverage

Debt/EBITDA = 9.7x (>4x). Interest coverage = 1.2x (<2x). Financial stress

!
D3Soft Asset Growth

Other assets grew 60.3% vs revenue 15.9%

D4Asset Impairment

Write-offs surged 338% YoY, = 279% of NI. Possible big bath

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 11% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -3.06 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-3.06
-4.0 Clean-2.22 Grey-1.78 Danger0
0.506
DSRI
AR growing faster than revenue?
0.967
GMI
Gross margin declining?
0.841
AQI
Asset quality deteriorating?
1.159
SGI
Revenue growth rate
0.987
DEPI
Depreciation slowing?
0.846
SGAI
SG&A ratio changing?
-0.0397
TATA
Accruals level
1.084
LVGI
Leverage increasing?

Altman Z-Score — Not Applicable

Alpine Income Property Trust, I is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25