F

SmartStop Self Storage REIT, In — Earnings Quality Grade F

SMA · Real Estate

Major red flags

Revenue
$281M
2025
Net Income
-$2M
2025
Gross Margin
61.3%
Free Cash Flow
$85M
01

Screening Summary

9
Passed
2
Watch
2
Failed
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

Insufficient data

A2AR vs Revenue Growth

Insufficient data

A3Revenue vs CFFO

Revenue 18.6%, CFFO 32.7%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

Insufficient data

B3SG&A Ratio

SG&A/Gross Profit = 22.2%, excellent (<30%)

B4Gross Margin

Gross margin 61.3%, change -4.3pp. Stable

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = -54.93. Below 1.0

C2Free Cash Flow

FCF $0.1B, FCF/NI = -54.93

C3Accruals Ratio

Accruals ratio = -3.6%. Low accruals

C4Cash vs Debt

Cash $0.1B covers only 5% of debt $1.1B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.1B = 9% of equity. Manageable

D2Leverage

Debt/EBITDA = 8.2x (>4x). Interest coverage = 1.0x (<2x). Financial stress

D3Soft Asset Growth

Other assets -18.9% vs revenue 18.6%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

!
E2Goodwill Surge

Goodwill+Intangibles surged 37% YoY

06

Manipulation Score

F1Beneish M-Score

Insufficient data

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Altman Z-Score — Not Applicable

SmartStop Self Storage REIT, In 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