Forensic Analysis · Technology / Software · as of Aug 11, 2026
Trump Media & Technology Group Corp. (DJT)
A forensic read on Trump Media & Technology Group 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
-2.7
Distress distance
Watch
Earnings quality
6
Forensic signals
-2.6
P / E (ttm)
-43.2%
ROE
$2.6B
Market cap
0.00%
Dividend yield
1.8%
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). 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.
Trump Media & Technology Group Corp. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -2.7, placing it in the Distress zone. 6 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+105.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +105.7% 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 receivables up +1305% against revenue +2%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 45% of net operating assets, diverging from the balance-sheet accrual read.
13d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 5 to 13 days FY2024→FY2025 (receivables +1305% vs revenue +2%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Deferred revenue was roughly flat (-97%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build.
-18.4%
FY2025
Return on invested capital.Return on invested capital is -18.4% in the latest fiscal year and slipping from -1% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
1607% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1607% of revenue and 417% of free cash flow in FY2025 — about $0.23 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 25.0% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Key fundamentals
Latest Revenue$3.7M
Revenue Growth YoY+1.8%
Revenue CAGR (3yr)+35.8%
Net Margin-19335.8%
Free Cash Flow$14.2M
Return on Equity-43.2%
Debt / Equity0.58x
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 Trump Media & Technology Group Corp.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Trump Media & Technology Group Corp. (DJT) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
378% of FCF
FY2025
Shareholder returns.Returned $54M to shareholders (buybacks + dividends) in FY2025 — 378% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely. Counting the $59M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 795%.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed +191% over the last 3 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +42.8%/yr figure isn't a real buyback/dilution read here.