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Forensic Analysis · Staffing & Help Supply · as of Nov 9, 2026

Dlh Holdings Corp. (DLHC)

A forensic read on Dlh Holdings Corp. 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
Grey Zone
Financial health
1.2
Distress distance
Clean
Earnings quality
1
Forensic signals
1.2%
ROE
-13.0%
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 (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.

Dlh Holdings Corp. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.2, placing it in the Grey zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

4.9%
FY2025
Return on invested capital. Return on invested capital is 4.9% in the latest fiscal year, against 5.3% in FY2023, having run between 4.9% and 7.9% across FY2023–FY2025 with no direction held. After-tax operating profit was $15M in FY2023 and $13M in FY2025, with operating income at 4.5% of revenue in FY2023, 6.3% in FY2024 and 4.9% in FY2025. The capital base behind it went from $292M in FY2023 to $264M in FY2025 (-9%), while the revenue it carried went from $376M to $344M.

Key fundamentals

Latest Revenue$344.5M
Revenue Growth YoY-13.0%
Revenue CAGR (2yr)-4.3%
Net Margin0.4%
Free Cash Flow$23.0M
Return on Equity1.2%
Debt / Equity1.13x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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