Forensic Analysis · General / Diversified · as of Jun 27, 2026
ACV Auctions Inc. (ACVA)
A forensic read on ACV Auctions Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
0.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-14.3%
ROE
$1.2B
Market cap
ACV Auctions Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 0.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-13%Return on invested capital.Return on invested capital is -13% and rising from -29% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+2.9%/yrShare-count dilution.Diluted share count changed +9% over the last 3 years to FY2025 (+2.9%/yr). The count is GROWING — existing holders are being diluted. That's ~2.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~9%.
7% of revStock-based comp load.Stock-based compensation ran 7% of revenue and 82% of free cash flow in FY2025 — about $0.33 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin-8.7%
Debt / Equity0.18x
Free Cash Flow$69.1M
Latest Revenue$759.6M
Return on Equity-15.4%
Revenue Growth YoY+19.2%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on ACV Auctions Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ACVA's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown