Forensic Analysis · Technology / Software · as of Oct 13, 2026
Cycurion, Inc. (CYCU)
A forensic read on Cycurion, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-7.8
Distress distance
Clean
Earnings quality
3
Forensic signals
-117.7%
ROE
-14.8%
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, 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.
Cycurion, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -7.8, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-163.9%
FY2025
Return on invested capital.Return on invested capital is -163.9% in the latest fiscal year, against 32.0% in FY2024. After-tax operating profit was $2M in FY2024 and ($18M) in FY2025, with operating income at 13.6% of revenue in FY2024 and -154.7% in FY2025. The capital base behind it cannot be compared across FY2024–FY2025: long-term debt is tagged in one of those two fiscal years and not the other, and an untagged line enters this calculation as zero, so any change in the base would be a change in what the filer tagged.
FCF ($13M)
FY2025
Shareholder returns.Returned $1M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($13M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
26% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 26% of revenue in FY2025 — about $2.21 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 94.9% 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$15.1M
Revenue Growth YoY-14.8%
Revenue CAGR (2yr)-11.6%
Net Margin-156.4%
Free Cash Flow-$12.5M
Return on Equity-117.7%
Debt / Equity0.03x
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 Cycurion, Inc.'s actual 10-K/10-Q/8-K filings?