Semtech Corporation — Earnings Quality Grade F
SMTC · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 56 days, change -9 days YoY
AR growth -1.2% vs revenue growth 15.5%
Revenue 15.5%, CFFO 212.4%. Cash follows revenue
Expense Quality
Inventory 19.6% vs COGS 12.2%. Normal
CapEx growth 11.3% vs revenue 15.5%. Normal
SG&A/Gross Profit = 40.9%. Normal
Gross margin 51.6%, change +1.4pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF $0.2B, FCF/NI = -4.10
Accruals ratio = -15.7%. Low accruals
Cash $0.2B covers only 39% of debt $0.5B
Balance Sheet Health
Goodwill+Intangibles $0.5B = 91% of equity. Over 50%
Debt/EBITDA = 12.6x (>4x). Financial stress
Other assets 13.4% vs revenue 15.5%. Normal
Write-offs up 837% YoY
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -12% YoY. Normal
Manipulation Score
M-Score = -3.23 (< -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