Vox Royalty Corp. — Earnings Quality Grade F
VOXR · Basic Materials
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 59 days, change -37 days YoY
AR growth -7.3% vs revenue growth 50.5%
Revenue 50.5%, CFFO 96.7%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 1898.5% is >2x revenue growth 50.5%
SG&A/Gross Profit = 66.3%. Normal
Gross margin swung -11.0pp (71.6% → 60.7%)
Cash Flow Quality
CFFO/NI = 1.82. Profits backed by cash
FCF is negative ($-0.1B)
Accruals ratio = -3.9%. Low accruals
Cash $0.0B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Debt/EBITDA = 0.5x. Healthy
Other assets grew 21560.2% vs revenue 50.5%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -19% YoY. Normal
Manipulation Score
M-Score = 5.16 (> -1.78). LIKELY MANIPULATOR
Small-cap context: Beneish M-Score was calibrated on large-caps; small-cap DSO/inventory volatility mechanically inflates it.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25