12 Stocks of Christmas: Billington Holdings

For my contributions to the 12 Stocks of Christmas, I am choosing four stocks that epitomise Quality, Value, Momentum and Growth for me. Yesterday, it was Value; today, it is Quality.
On the 9th Day of Christmas, my true love gave to me:
Billington Holdings (LON:BILN)
Billington has an impressive 93 Quality Rank:

This is partially due to its 9/9 for Piotroski score and bulletproof balance sheet:

The Beneish score flags this as a potential earnings manipulator. However, having looked at the accounting details, I don’t believe this is a company that has manipulated their earnings.
There is an even better reason to consider Billington a Quality stock, and this is because it regularly earns a return on capital significantly above its cost of capital:

It isn’t the perfect share in this regard. It struggled during the COVID-19 years when there was little investment in construction. This cyclicality is why the stock is on a forward P/E of 7, not 27. From studying high-return quality compounders, I have developed what I call an MROC framework. I am looking...