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CONFIDENTIAL
Prepared for Emergent Partners, LLC
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Acme Manufacturing, Inc.
Financial Diagnostic Report  ·  April 9, 2026  ·  Manufacturing  ·  $5M–$25M Revenue Band
"The P&L says we're profitable — so where is the cash?"
3 HIGH severity findings — $2,162,000 in recoverable cash identified
Immediate operational changes can recover this cash. No new capital required.
HIGH ×3 MED ×1 ALERT ×2
DSO
47 days
Median: 38  |  Best: 28
DIO
90 days
Median: 52  |  Best: 35
DPO
33 days
Median: 35  |  Best: 48
CCC
104 days
Median: 55  |  Best: 15
Total Cash Trapped in Operations
$2,162,000
AR (late collections)
$702,000
Inventory (excess)
$1,013,000
AP (paying early)
$447,000
Top 3 Findings
High Cash Conversion Cycle — 104 Days
$4,274,000 working capital required
Operations require 104 days of cash tied up before it returns. At $15M revenue, that's $4.27M in working capital against $265,000 available — a 1,613% gap.
HIGH: CCC >90 days. Industry median: 55 days.
High Excess Inventory — 38 Days Beyond Benchmark
$1,013,000 trapped in warehouse
90-day DIO vs. 52-day manufacturing benchmark. Cash already spent on product sitting unsold. Largest single recoverable amount.
HIGH: DIO >30 days over sector median. Gap: 38 days.
Medium Paying Vendors 23 Days Early
$447,000 in free financing given away
Net 45 terms, paying in 22 days. Voluntarily surrendering vendor financing the business is entitled to use. Easiest fix on this list.
MEDIUM: paying >15 days earlier than vendor terms.
Margin Summary
Gross Margin35.0%
Operating Margin13.7%
Contribution Margin28.6% / $35.75/unit
Break-Even Volume79% above (— OK)
↓ Gross margin down 2.2 pp vs. prior year — $330,000 in annual gross profit erosion
13-Week Cash Outlook
Week 6
Cash position goes negative in Week 6 (May 19). LOC draw begins. By Week 10 (June 16), LOC is at 83% of available capacity following a large scheduled payment.
✓ Recovery begins Week 11 as disbursement cycle normalizes