Forensic Analysis · Technology / Software · as of Jun 28, 2026
3D SYSTEMS CORP (DDD)
A forensic read on 3D SYSTEMS CORP 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
-5.8
Altman Z-score
Watch
Earnings quality
4
Forensic signals
8.0
P / E (ttm)
26.7%
ROE
$447M
Market cap
3D SYSTEMS CORP earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -5.8, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-22%Return on invested capital.Return on invested capital is -22% and slipping from -10% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+12.4%/yrShare-count dilution.Diluted share count changed +37% over the last 3 years to FY2025 (+12.4%/yr). The count is GROWING — existing holders are being diluted. That's ~12.4% 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 ~37%.
182dInventory days.Days inventory outstanding moved from 157 to 182 FY2024→FY2025 (against cost of goods sold; inventory +8% vs -7% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
$430MGoodwill impairments.Took $430M of goodwill writedowns across 3 year(s) (FY2020 ($48M), FY2023 ($280M), FY2024 ($101M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin7.7%
Debt / Equity0.38x
Free Cash Flow$-97.8M
Latest Revenue$386.9M
Return on Equity12.4%
Revenue Growth YoY-12.1%
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 3D SYSTEMS CORP:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about DDD'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