Rayonier Advanced Materials Inc — Earnings Quality Grade F
RYAM · Basic Materials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 42 days, change -1 days YoY
AR growth -11.4% vs revenue growth -10.1%
Revenue -10.1%, CFFO -88.3%. Cash follows revenue
Expense Quality
Inventory growth 14.4% exceeds COGS -8.0%
CapEx growth 7.1% vs revenue -10.1%. Normal
SG&A/Gross Profit = 70.7%, exceeds 70%
Gross margin 8.1%, change -2.1pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.1B)
Accruals ratio = -25.4%. Low accruals
Cash $0.1B covers only 10% of debt $0.8B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Debt/EBITDA = 5.7x (>4x). Interest coverage = 0.1x (<2x). Financial stress
Other assets -1.9% vs revenue -10.1%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -62% YoY. Normal
Manipulation Score
M-Score = -3.95 (< -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