Forensic Analysis · Retail / Consumer Discretionary · as of Aug 9, 2026
Arhaus, Inc. (ARHS)
A forensic read on Arhaus, 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
3.2
Distress distance
Clean
Earnings quality
5
Forensic signals
21.0
P / E (ttm)
16.1%
ROE
$1.4B
Market cap
3.65%
Dividend yield
8.5%
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 (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.
Arhaus, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.2, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+12.0%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +12.0% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +14% against +9% in cost of sales and PP&E up +12% against revenue +9%. This is the third straight fiscal year of building accruals — a multi-year streak is a materially stronger tell than a single year's move. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 45% of net operating assets, diverging from the balance-sheet accrual read.
138d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 131 to 138 FY2024→FY2025 (against cost of goods sold; inventory +14% vs +9% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
9.4%
FY2025
Return on invested capital.Return on invested capital is 9.4% in the latest fiscal year and slipping from 31% — around its ~9% cost of capital, so growth is roughly value-neutral.
+0.4%/yr
FY2022–FY2025
Share count.Diluted share count changed +1% over the last 3 years to FY2025 (+0.4%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
-99%
FY2024→FY2025
Key fundamentals
Latest Revenue$1.38B
Revenue Growth YoY+8.5%
Revenue CAGR (3yr)+3.9%
Net Margin4.9%
Free Cash Flow$59.0M
Return on Equity16.1%
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 Arhaus, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.
Arhaus, Inc. (ARHS) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Dividend — cut.The payout was CUT ~99% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.