Forensic Analysis · Trading Companies & Distributors · as of Sep 25, 2026
Dxp Enterprises Inc (DXPE)
A forensic read on Dxp Enterprises Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
6.7
Distress distance
Clean
Earnings quality
2
Forensic signals
30.9
P / E (ttm)
17.8%
ROE
$3.0B
Market cap
0.00%
Dividend yield
11.9%
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, valuation). 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.
Dxp Enterprises Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 6.7, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+12.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +12.4% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +17% against revenue +12%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 1% of net operating assets, against an accruals ratio of 12.4%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
11.8%
FY2025
Return on invested capital.Return on invested capital is 11.8% in the latest fiscal year and slipping across FY2023–FY2025 from 14.0%. After-tax operating profit was $110M in FY2023 and $132M in FY2025, with operating income at 8.3% of revenue in FY2023, 8.1% in FY2024 and 8.8% in FY2025. The capital base behind it grew +42% across FY2023–FY2025, from $786M to $1.1B, while the return fell 2.2 points, so the dollars added over that window earned less than the 14.0% the older base was already earning.
Key fundamentals
Latest Revenue$2.02B
Revenue Growth YoY+11.9%
Revenue CAGR (2yr)+9.6%
Net Margin4.4%
Free Cash Flow$54.0M
Return on Equity17.8%
Debt / Equity1.66x
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 Dxp Enterprises Inc's actual 10-K/10-Q/8-K filings?