Forensic Analysis · Professional & Commercial Services · as of Oct 26, 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
3
Forensic signals
36.4%
ROE
4.5%
Revenue growth
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). 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. 3 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.
+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 (2yr)+19.3%
Net Margin21.9%
Return on Equity36.4%
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?