Energy Services Of America Corp (ESOA) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 7, 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
3.4
Distress distance
Not computable
Earnings quality
4
Forensic signals
31.6
P / E (ttm)
4.2%
ROE
$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). 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 3.4, placing it in the Safe zone. 4 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 total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by receivables up +36% against revenue +17%. This is the fourth straight fiscal year of building accruals — an even longer streak than the 3-year mark that already signals a materially stronger tell.
2.4%
FY2025
Return on invested capital.Return on invested capital is 2.4% in the latest fiscal year and slipping from 10% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
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.
+0.7%/yr
FY2022–FY2025
Share count.Diluted share count changed +2% over the last 3 years to FY2025 (+0.7%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$411.0M
Revenue Growth YoY+16.8%
Revenue CAGR (3yr)+27.6%
Net Margin1.9%
Free Cash Flow-$2.2M
Return on Equity4.2%
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?