Forensic Analysis · Industrials / Manufacturing / Defense · as of Sep 25, 2026
Eos Energy Enterprises, Inc. (EOSE)
A forensic read on Eos Energy Enterprises, Inc. 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
-6.3
Distress distance
Clean
Earnings quality
3
Forensic signals
-0.9
P / E (ttm)
$1.3B
Market cap
0.00%
Dividend yield
631.8%
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, 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.
Eos Energy Enterprises, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -6.3, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-117.7%
FY2025
Return on invested capital.Return on invested capital is -117.7% in the latest fiscal year, against -203.1% in FY2023, having run between -203.1% and -112.5% across FY2023–FY2025 with no direction held. After-tax operating profit was ($121M) in FY2023 and ($205M) in FY2025, with operating income at -933.8% of revenue in FY2023, -1122.6% in FY2024 and -227.0% in FY2025. The capital base behind it grew +193% across FY2023–FY2025, from $59M to $174M, and the return did not fall doing it, so the dollars added over that window earned at least the -203.1% the older base was already earning.
n/m (stock split)
FY2023–FY2025
Share count (stock split).Diluted share count changed +105% over the last 2 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 +43.3%/yr figure isn't a real buyback/dilution read here.
22% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 22% of revenue in FY2025 — about $0.10 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 23.0% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$114.2M
Revenue Growth YoY+631.8%
Revenue CAGR (2yr)+163.9%
Net Margin-849.1%
Free Cash Flow-$265.9M
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 Eos Energy Enterprises, Inc.'s actual 10-K/10-Q/8-K filings?