The Beauty Health Company — Earnings Quality Grade F
SKIN · Consumer Defensive
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 26 days, change -4 days YoY
AR growth -21.4% vs revenue growth -10.0%
Revenue -10.0%, CFFO 132.3%. Cash follows revenue
Expense Quality
Inventory -30.5% vs COGS -31.3%. Normal
CapEx growth -24.0% vs revenue -10.0%. Normal
SG&A/Gross Profit = 107.7%, exceeds 70%
Gross margin swung +10.8pp (54.5% → 65.3%)
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 $0.0B, FCF/NI = -3.40
Accruals ratio = -9.4%. Low accruals
Cash $0.2B covers 61% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 266% of equity. Over 50%
Debt/EBITDA = 9.8x (>4x). Interest coverage = -1.1x (<2x). Financial stress
Other assets -15.7% vs revenue -10.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -5% YoY. Normal
Manipulation Score
M-Score = -3.08 (< -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