CIK 1466815

Cambium Learning Group, Inc.

CIK 0001466815 · EDGAR ↗

cleanelevatedtriggeredno dataplanned

78.8

composite · 5 signals · TRIGGERED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-07 · FY 2017-12-31 · TRIGGERED70.0

Pension underfunding

DB plan 0% funded — -$9M deficit

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2018-03-07) ↗

Evidence — inputs and thresholds

{
  "benefit_obligation": 9235000,
  "plan_assets": 0,
  "funded_ratio": 0,
  "deficit": -9235000,
  "deficit_vs_equity": null,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2017-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1466815/000146681518000016/0001466815-18-000016-index.htm",
    "form": "10-K",
    "filed": "2018-03-07"
  }
}

P-05 · FY 2017-12-31 · ELEVATED100.0

Tax arbitrage

ETR -185.9% vs 21% statutory — gap persistent across 2 of 2 years

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2018-03-07) ↗

Evidence — inputs and thresholds

{
  "etr_by_year": {
    "2017-12-31": -1.8594,
    "2016-12-31": 0.0273
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2017-12-31": 2.0694,
    "2016-12-31": 0.1827
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2017-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1466815/000146681518000016/0001466815-18-000016-index.htm",
    "form": "10-K",
    "filed": "2018-03-07"
  }
}

P-13 · FY 2017-12-31 · ELEVATED20.0

Zombie / distress

Altman Z'' -8.10 in the distress zone

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2018-03-07) ↗

Evidence — inputs and thresholds

{
  "icr_by_year": {
    "2017-12-31": 4.306,
    "2016-12-31": 2.583,
    "2015-12-31": 1.157,
    "2014-12-31": 0.456
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": -8.098,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 20962000,
    "interest_expense_t": 4868000
  },
  "stale": false,
  "latest_filing_period": "2017-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1466815/000146681518000016/0001466815-18-000016-index.htm",
    "form": "10-K",
    "filed": "2018-03-07"
  }
}

P-01 · FY 2017-12-31 · CLEAN31.6

Earnings quality

Beneish M-Score -2.40 — no manipulation profile

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2018-03-07) ↗

Evidence — inputs and thresholds

{
  "m_score": -2.395,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.931,
    "GMI": 0.959,
    "AQI": 1.115,
    "SGI": 1.038,
    "DEPI": 0.987,
    "SGAI": 1,
    "LVGI": 0.723,
    "TATA": 0
  },
  "defaulted_to_neutral": [
    "SGAI",
    "TATA"
  ],
  "sloan_accruals": null,
  "inputs": {
    "revenue_t": 158184000,
    "revenue_t1": 152358000,
    "total_assets_t": 158554000,
    "net_income_t": 45055000,
    "cfo_t": null
  },
  "stale": false,
  "latest_filing_period": "2017-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1466815/000146681518000016/0001466815-18-000016-index.htm",
    "form": "10-K",
    "filed": "2018-03-07"
  }
}

P-12 · FY 2017-12-31 · CLEAN13.6

Restatement predictor

F-Score 0.41 — at or below the population base rate

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2018-03-07) ↗

Evidence — inputs and thresholds

{
  "f_score": 0.409,
  "probability": 0.00151,
  "components": {
    "rsst": null,
    "drec": -0.003,
    "dinv": -0.0033,
    "soft": 0.8071,
    "dcs": 0.0411,
    "droa": 0.2051,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2017-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1466815/000146681518000016/0001466815-18-000016-index.htm",
    "form": "10-K",
    "filed": "2018-03-07"
  }
}