Forensic Analysis · Professional & Commercial Services · as of Sep 11, 2026
Acorn Energy, Inc. (ACFN)
A forensic read on Acorn Energy, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-18.3
Distress distance
Clean
Earnings quality
6
Forensic signals
30.4%
ROE
4.5%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Acorn Energy, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -18.3, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 6 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
0.34×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, cumulative operating cash flow was 0.34× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
116d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 85 to 116 FY2024→FY2025 (against cost of goods sold; inventory +188% vs -11% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
FCF ($19M)
FY2013
Shareholder returns.Returned $517,000 to shareholders (buybacks + dividends) in FY2013, but free cash flow was ($19M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
+17.2%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +17.2% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +188% against -11% in cost of sales. A cash-flow measure on the same base agrees: reported earnings ran ahead of operating cash by 12% of net operating assets, against an accruals ratio of 17.2%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average.
Key fundamentals
Latest Revenue$11.5M
Revenue Growth YoY+4.5%
Revenue CAGR (3yr)+17.9%
Net Margin21.9%
Return on Equity30.4%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Acorn Energy, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 11, 2026. Forensic signals flag probability, not certainty.
Acorn Energy, Inc. (ACFN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
+0.8%/yr
FY2022–FY2025
Share count.Diluted share count changed +2% over the last 3 years to FY2025 (+0.8%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
-84%
FY2012→FY2013
Dividend — cut.The payout was CUT ~84% in FY2013 (from FY2012) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies. Measured on total dividend dollars rather than per share: the reported share count steps sharply around FY2013, a stock-split seam between filing vintages rather than a change in the payout, and a split leaves the dollars paid untouched.