Forensic Analysis · Consumer Staples / Food & Beverage · as of Jun 28, 2026
Forafric Global PLC (AFRI)
A forensic read on Forafric Global PLC built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-5.8
Altman Z-score
Clean
Earnings quality
6
Forensic signals
-158.1%
ROE
$275M
Market cap
Forafric Global PLC earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -5.8, placing it in the Distress zone. 6 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+53.5%Accruals ratio.Net operating assets grew +53.5% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -103% of net operating assets.
33dInventory days.Days inventory outstanding moved from 23 to 33 FY2024→FY2025 (against cost of goods sold; inventory -8% vs -36% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
-8%Return on invested capital.Return on invested capital is -8% and slipping from 4% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
29d DSOReceivables vs revenue.Days sales outstanding moved from 24 to 29 days FY2024→FY2025 (receivables -22% vs revenue -36%). Receivables are creeping up relative to sales — watch the trend.
+0.4%/yrShare-count dilution.Diluted share count changed +1% over the last 3 years to FY2025 (+0.4%/yr). Roughly flat — buybacks are about offsetting stock comp, not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$1MGoodwill impairments.Took $1M of goodwill writedowns across 1 year(s) (FY2025 ($1M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-8.4%
Free Cash Flow-161000.00
Latest Revenue$176.5M
Revenue Growth YoY-35.6%
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 Forafric Global PLC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about AFRI'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