Tejon Ranch Co — Earnings Quality Grade F
TRC · Industrials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 69 days, change +0 days YoY
AR outpaced revenue for 2 consecutive years
Revenue grew 18.4% but CFFO declined -57.2%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory -15.7% vs COGS 8.7%. Normal
CapEx growth 7.7% vs revenue 18.4%. Normal
Insufficient data
Gross margin rose +7.8pp while AR increased and AP decreased. Fraud pattern
Cash Flow Quality
CFFO far exceeds NI (ratio 81.8x). Non-cash charges depressing profits
FCF < 50% of Net Income for 3 years
Accruals ratio = -1.0%. Low accruals
Cash $0.0B covers only 26% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 4% of equity. Manageable
Debt/EBITDA = -48.4x. Healthy
Other assets -10.2% vs revenue 18.4%. 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 change -7% YoY. Normal
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