no-good vs good-for-naught

no-good is not a noun while good-for-naught is a noun.

Word	Noun	Adjective	Verb	Adverb
no-good	No	Yes	No	No
good-for-naught	Yes	Yes	No	No

As adjectives, no-good and good-for-naught are synonyms defined as:

no-good and good-for-naught: without merit; of little or no value or use

Other synonyms of no-good include good-for-nothing, meritless, no-account, no-count, sorry.

no-good (noun)	good-for-naught (noun)
	an idle worthless person

no-good (adjective)	good-for-naught (adjective)
returned for lack of funds	without merit; of little or no value or use
without merit; of little or no value or use