Bristow Group, Inc. — Earnings Quality Grade F
VTOL · Energy
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 53 days, change -1 days YoY
AR growth 2.6% vs revenue growth 5.3%
Revenue 5.3%, CFFO 11.8%. Cash follows revenue
Expense Quality
Inventory growth 15.9% far exceeds COGS -6.9%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth -44.4% vs revenue 5.3%. Normal
SG&A/Gross Profit = 58.1%. Normal
Gross margin 66.8%, change +4.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.54. Profits backed by cash
FCF < 50% of Net Income for 2 years
Accruals ratio = -3.0%. Low accruals
Cash $0.3B covers only 31% of debt $0.9B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 3.3x. Healthy
Other assets grew 39.1% vs revenue 5.3%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
No goodwill
Manipulation Score
M-Score = -2.51 (< -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