Forensic Analysis · Industrials / Manufacturing / Defense · as of Sep 25, 2026
Energy Services Of America Corp (ESOA)
A forensic read on Energy Services Of America Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
Safe
Financial health
3.5
Distress distance
Not computable
Earnings quality
5
Forensic signals
31.6
P / E (ttm)
$293M
Market cap
0.83%
Dividend yield
16.8%
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.
Its balance-sheet distress test reads 3.5, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+44.3%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +44.3% 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 sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by receivables up +36% against revenue +17%.
2.4%
FY2025
Return on invested capital.Return on invested capital is 2.4% in the latest fiscal year and slipping across FY2023–FY2025 from 17.8%. After-tax operating profit was $9M in FY2023 and $3M in FY2025, with operating income at 4.3% of revenue in FY2023, 5.6% in FY2024 and 1.0% in FY2025. The capital base behind it grew +123% across FY2023–FY2025, from $52M to $117M, while the return fell 15.4 points, so the dollars added over that window earned less than the 17.8% the older base was already earning.
FCF ($2M)
FY2025
Shareholder returns.Returned $2M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($2M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $4M — 57% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
68d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 58 to 68 days FY2024→FY2025 (receivables +36% vs revenue +17%). Across FY2023–FY2025 the day count ran 61 → 58 → 68 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Receivables grew, but deferred revenue grew +67% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
Key fundamentals
Latest Revenue$411.0M
Revenue Growth YoY+16.8%
Revenue CAGR (2yr)+16.2%
Free Cash Flow-$2.2M
Debt / Equity1.04x
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 Energy Services Of America Corp's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
Energy Services Of America Corp (ESOA) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
0.0%/yr
FY2023–FY2025
Share count.Diluted share count changed 0% over the last 2 years to FY2025 (0.0%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.