hard · Financial Accounting

If a company has an 'Operating Margin' that is increasing while its 'Cash Flow Conversion' (CFO / EBITDA) is decreasing, what might an analyst suspect?

  1. The company is engaging in aggressive revenue recognition or building up inventory.
  2. The company has recently decreased its dividend payout ratio.
  3. The company's effective tax rate has decreased.
  4. The company is successfully reducing its fixed costs.

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