STAAR Surgical Company — Earnings Quality Grade F
STAA · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 76 days, change -14 days YoY
AR growth -35.7% vs revenue growth -23.7%
Revenue -23.7%, CFFO -317.7%. Cash follows revenue
Expense Quality
Inventory growth 28.2% exceeds COGS -23.3%
CapEx growth -75.1% vs revenue -23.7%. Normal
SG&A/Gross Profit = 103.2%, exceeds 70%
Gross margin 76.2%, change -0.1pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -10.2%. Low accruals
Cash $0.2B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 9% of equity. Manageable
Debt/EBITDA = -1.0x. Healthy
Other assets -8.2% vs revenue -23.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles surged 85% YoY
Manipulation Score
M-Score = -2.96 (< -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