WhiteFiber, Inc. — Earnings Quality Grade F
WYFI · Technology
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 70 days (40 → 110)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR growth 354.1% exceeds revenue growth 66.2%
Revenue 66.2%, CFFO 143.5%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 239.6% is >2x revenue growth 66.2%
SG&A/Gross Profit = 106.9%, exceeds 70%
Gross margin 62.1%, change +4.5pp. Stable
Cash Flow Quality
CFFO/NI = -1.85. Below 1.0
FCF is negative ($-0.2B)
Accruals ratio = -10.8%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 7% of equity. Manageable
Debt/EBITDA = -6.9x. Healthy
Other assets -70.2% vs revenue 66.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 2% YoY. Normal
Manipulation Score
M-Score = -1.14 (> -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