Forensic Analysis · Industrial & Scientific Instruments · as of Nov 11, 2026

Electromed, Inc. (ELMD)

A forensic read on Electromed, 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

11.9

Distress distance

Forensic signals

23.3%

ROE

15.3%

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.

Electromed, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 11.9, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by accruals ratio (% of NOA).

What the filings flag

+18.2%

FY2025→FY2026

Accruals ratio (% of NOA). Net operating assets grew +18.2% relative to their own average in FY2026 — 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. Net operating assets also rose $8,000 through acquisitions (increase in goodwill and intangibles); that purchase is investing and is excluded from this ratio. The build is led by receivables up +21% against revenue +15% and inventory up +12% against +13% in cost of sales. A cash-flow measure on the same base agrees: reported earnings ran ahead of operating cash by 5% of net operating assets, against an accruals ratio of 18.2%. 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.Accruals ratio: the year-over-year change in net operating assets, relative to their own average.NOA (net operating assets): the money tied up in running the business, operating assets minus operating liabilities.

Key fundamentals

Latest Revenue$73.8M

Revenue Growth YoY+15.3%

Revenue CAGR (2yr)+16.1%

Net Margin15.3%

Free Cash Flow$8.4M

Return on Equity23.3%

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Data from SEC EDGAR public filings · metrics as of Nov 11, 2026. Forensic signals flag probability, not certainty.

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