C3.ai, Inc. (AI) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Technology / Software · as of Jun 27, 2026
C3.ai, Inc. (AI)
A forensic read on C3.ai, 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
-2.4
Altman Z-score
Clean
Earnings quality
5
Forensic signals
-63.9%
ROE
$1.4B
Market cap
C3.ai, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -2.4, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-61%Return on invested capital.Return on invested capital is -61% and slipping from -34% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+9.3%/yrShare-count dilution.Diluted share count changed +28% over the last 3 years to FY2026 (+9.3%/yr). The count is GROWING — existing holders are being diluted. That's ~9.3% 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 FY2023 has been diluted ~28%.
stoppedShareholder returns — halted.Capital returns have STOPPED — $15M of buybacks + dividends in FY2022, but ~$0 in FY2024. A halt usually means the company is conserving cash; understand why before reading it as neutral.
147d DSOReceivables vs revenue.Days sales outstanding moved from 129 to 147 days FY2025→FY2026 (receivables -27% vs revenue -36%). Receivables are creeping up relative to sales — watch the trend.
105% of revStock-based comp load.Stock-based compensation ran 105% of revenue in FY2026 — about $1.88 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-187.9%
Free Cash Flow$-192.1M
Latest Revenue$250.3M
Return on Equity-71.9%
Revenue Growth YoY-35.7%
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 C3.ai, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about AI'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