Tredegar Corporation — Earnings Quality Grade F
TG · Industrials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 40 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 20.9%, CFFO 29.3%. Cash follows revenue
Expense Quality
Inventory 26.4% vs COGS 22.2%. Normal
CapEx growth 20.2% vs revenue 20.9%. Normal
SG&A/Gross Profit = 72.3%, exceeds 70%
Gross margin 15.1%, change -0.9pp. 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 $0.0B, FCF/NI = 0.47
Accruals ratio = 0.1%. Low accruals
Cash $0.0B covers only 14% of debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 13% of equity. Manageable
Debt/EBITDA = 0.9x. Healthy
Other assets -11.9% vs revenue 20.9%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -6% YoY. Normal
Manipulation Score
M-Score = -2.22 (grey zone)
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25