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Graphic Packaging Holding earnings quality score
How much of the reported profit is backed by cash, and how many markers of managed earnings the filings show
Score72 / 100 · grade B · rank 273 of 1027
Graphic Packaging Holding (GPK) scores 72 of 100 for earnings quality, grade B: rank 273 of 1027 companies and 31 of 82 in materials. It loses the most points on accruals of -3.5% of assets, higher than 58% of companies (profit backed by cash), Piotroski F-score 4 of 9, Montier C-score 2 of 6 checks failed. It earns full or near-full marks for Beneish M-score -2.58: clean (below −2.22), Dechow F-score 0.77 (normal), profit about as variable as cash flow (smoothness 0.88).
What earned and lost points
| Component | What the filings show | Points | Of |
|---|---|---|---|
| Accruals | accruals of -3.5% of assets, higher than 58% of companies (profit backed by cash) | 9 | 22 |
| Beneish M-score | Beneish M-score -2.58: clean (below −2.22) | 17 | 17 |
| Dechow F-score | Dechow F-score 0.77 (normal) | 17 | 17 |
| Montier C-score | Montier C-score 2 of 6 checks failed | 11 | 17 |
| Discretionary accruals | discretionary accruals of +1.8% of assets (modified Jones), smaller than most | 8 | 11 |
| Piotroski F-score | Piotroski F-score 4 of 9 | 5 | 11 |
| Earnings smoothness | profit about as variable as cash flow (smoothness 0.88) | 6 | 6 |
How the score is built
Eight published measures, each scored against the whole universe or on its own scale and weighted: accruals 20, discretionary accruals 10, Beneish M 15, Dechow F 15, Montier C 15, Piotroski F 10, the non-GAAP gap 10, smoothness 5. A measure that cannot be computed (Beneish for a bank, say) drops out and the rest is rescaled, so every company is scored on what applies to it.
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Computed from the companies’ own XBRL filings (latest fiscal year) by published formulas; a statistical screen, not an audit or an accusation. A low score means the reported profit shows more of the markers of managed or low-quality earnings than its peers. Not investment advice.