Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
Airsculpt Technologies, Inc. (AIRS)
A forensic read on Airsculpt Technologies, 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
-0.6
Altman Z-score
Clean
Earnings quality
5
Forensic signals
-12.4%
ROE
$322M
Market cap
Airsculpt Technologies, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -0.6, 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
-6%Return on invested capital.Return on invested capital is -6% and slipping from -2% — well below its ~10% 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%.
2% of revStock-based comp load.Stock-based compensation ran 2% of revenue and 337% of free cash flow in FY2025 — about $0.04 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.
stoppedShareholder returns — halted.Capital returns have STOPPED — $252,000 of buybacks + dividends in FY2024, but ~$0 in FY2025. A halt usually means the company is conserving cash; understand why before reading it as neutral.
suspendedDividend — suspended.The dividend has been SUSPENDED — $252,000 paid in FY2024, then $0 in FY2025. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
Key fundamentals
Net Margin-7.7%
Debt / Equity0.64x
Free Cash Flow692000.00
Latest Revenue$151.8M
Return on Equity-13.3%
Revenue Growth YoY-15.8%
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 Airsculpt Technologies, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about AIRS'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