Stratus Properties Inc. — Earnings Quality Grade F
STRS · Real Estate
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
Insufficient data
Insufficient data
Revenue -44.8%, CFFO -411.9%. Cash follows revenue
Expense Quality
Inventory -24.4% vs COGS -13.8%. Normal
CapEx growth -72.0% vs revenue -44.8%. Normal
SG&A/Gross Profit = -206.7%, excellent (<30%)
Gross margin swung -44.5pp (20.6% → -23.9%)
Cash Flow Quality
CFFO/NI = -2.50. Only -250% of profit backed by cash
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF < 50% of Net Income for 2 years
Accruals ratio = 7.4%. Elevated
Cash $0.1B covers only 47% of debt $0.2B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 9.6x (>4x). Interest coverage = -14.5x (<2x). Financial stress
Other assets -60.7% vs revenue -44.8%. 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.
No goodwill
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25