Forensic Analysis · Consumer Staples / Food & Beverage · as of Aug 11, 2026
Vita Coco Company, Inc. (COCO)
A forensic read on Vita Coco Company, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
19.8
Distress distance
Watch
Earnings quality
4
Forensic signals
33.6
P / E (ttm)
21.5%
ROE
$3.7B
Market cap
18.2%
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.
Vita Coco Company, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 19.8, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+35.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +35.4% 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 sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +33% against +22% in cost of sales and receivables up +28% against revenue +18%. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by 21% of net operating assets.
+2.2%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +7% over the last 3 years to FY2025 (+2.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.2% 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 ~6%.
92d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 77 to 92 FY2024→FY2025 (against cost of goods sold; inventory +33% vs +22% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
1.8% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.8% of revenue and 28% of free cash flow in FY2025 — about $0.18 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 2.2% a year and is falling.
Key fundamentals
Latest Revenue$609.8M
Revenue Growth YoY+18.2%
Revenue CAGR (3yr)+12.5%
Net Margin11.7%
Free Cash Flow$39.0M
Return on Equity21.5%
Debt / Equity0.00x
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 Vita Coco Company, Inc.'s actual 10-K/10-Q/8-K filings?