Forensic Analysis · Materials / Mining & Chemicals · as of Oct 9, 2026
Citrotech Inc. (CITR)
A forensic read on Citrotech 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
-27.4
Distress distance
Clean
Earnings quality
2
Forensic signals
-327.1%
ROE
194.6%
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, going concern). 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.
Citrotech Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -27.4, placing it in the Distress 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). 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+61.8%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +61.8% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply, and much of it is accounted for. The build is led by PP&E up +466% against revenue +195% and inventory up +91% against +182% in cost of sales. That build tracks a +195% revenue year: net operating assets grew +89% and receivables -34%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 812% of net operating assets, against an accruals ratio of 61.8%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
804% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 804% of revenue in FY2025 — about $1.54 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 48.4% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$2.4M
Revenue Growth YoY+194.6%
Revenue CAGR (2yr)+113.8%
Net Margin-1546.9%
Free Cash Flow-$6.1M
Return on Equity-327.1%
Debt / Equity0.02x
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 Citrotech Inc.'s actual 10-K/10-Q/8-K filings?