Forensic Analysis · General / Diversified · as of Sep 4, 2026

American Outdoor Brands, Inc. (AOUT)

A forensic read on American Outdoor Brands, 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

Safe

Financial health

5.2

Distress distance

Clean

Earnings quality

Forensic signals

-5.6%

ROE

-14.3%

Revenue growth

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

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 (red flags, auditor quality, say on pay, board independence). 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.

American Outdoor Brands, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.2, placing it in the Safe zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-4.1%

FY2026

Return on invested capital. Return on invested capital is -4.1% in the latest fiscal year and steady — well below its ~9% cost of capital, and it has been across FY2022–FY2026, so reinvested dollars have not been earning their keep.

66d DSO

FY2025→FY2026

Receivables vs revenue. Days sales outstanding moved from 53 to 66 days FY2025→FY2026 (receivables -26% vs revenue -14%). Receivables are creeping up relative to sales. Across FY2022–FY2026 the day count ran 49 → 53 → 48 → 53 → 66 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter.

341d

FY2025→FY2026

Inventory days. Days inventory outstanding moved from 294 to 341 FY2025→FY2026 (against cost of goods sold; inventory -12% vs -14% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

120% of FCF

FY2026

Shareholder returns. Returned $5M to shareholders (buybacks + dividends) in FY2026 — 120% of free cash flow, but 81% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $3M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 192%.

$68M

FY2022–FY2022

Key fundamentals

Latest Revenue$190.5M

Revenue Growth YoY-14.3%

Revenue CAGR (3yr)-0.1%

Net Margin-4.8%

Free Cash Flow$4.3M

Return on Equity-5.6%

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Data from SEC EDGAR public filings · metrics as of Sep 4, 2026. Forensic signals flag probability, not certainty.