Forensic Analysis · Software & SaaS · as of Nov 9, 2026
Agilysys Inc (AGYS)
A forensic read on Agilysys Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
5.0
Distress distance
Clean
Earnings quality
3
Forensic signals
13.1%
ROE
15.9%
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 (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.
Agilysys Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 5.0, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
14.1%
FY2026
Return on invested capital.Return on invested capital is 14.1% in the latest fiscal year and rising across FY2024–FY2026 from 12.2%. After-tax operating profit was $14M in FY2024 and $34M in FY2026, with operating income at 6.6% of revenue in FY2024, 8.2% in FY2025 and 13.5% in FY2026. The capital base behind it grew +111% across FY2024–FY2026, from $116M to $245M, and the return did not fall doing it, so the dollars added over that window earned at least the 12.2% the older base was already earning.
+2.8%/yr
FY2024–FY2026
Share-count dilution.Diluted share count changed +6% over the last 2 years to FY2026 (+2.8%/yr). The count is growing — 26.8M shares in FY2024, 28.4M in FY2026: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.8% 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 FY2024 has been diluted ~5%.
7% of rev
FY2026
Stock-based comp load.Stock-based compensation ran 7% of revenue and 32% of free cash flow in FY2026 — about $0.77 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 2.8% a year across FY2024–FY2026, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$319.3M
Revenue Growth YoY+15.9%
Revenue CAGR (2yr)+16.0%
Net Margin12.1%
Free Cash Flow$68.1M
Return on Equity13.1%
Debt / Equity0.00x
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 Agilysys Inc's actual 10-K/10-Q/8-K filings?