Forensic Analysis · Technology / Software · as of Jun 27, 2026
Bandwidth Inc. (BAND)
A forensic read on Bandwidth 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
0.7
Altman Z-score
Clean
Earnings quality
2
Forensic signals
-1.3%
ROE
$1.8B
Market cap
Bandwidth Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 0.7, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-1%Return on invested capital.Return on invested capital is -1% and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
7% of revStock-based comp load.Stock-based compensation ran 7% of revenue and 78% of free cash flow in FY2025 — about $1.74 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.
Key fundamentals
Net Margin-1.7%
Debt / Equity0.62x
Free Cash Flow$67.2M
Latest Revenue$753.8M
Return on Equity-3.2%
Revenue Growth YoY+0.7%
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 Bandwidth Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about BAND'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