Future Fintech Group Inc. (FTFT) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Professional & Commercial Services · as of Sep 15, 2026
Future Fintech Group Inc. (FTFT)
A forensic read on Future Fintech Group Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-7.8
Distress distance
Watch
Earnings quality
6
Forensic signals
-10.5%
ROE
81.1%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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.
Future Fintech Group Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -7.8, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 6 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+136.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +136.6% 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. A cash-flow measure on the same base agrees: reported earnings ran ahead of operating cash by 110% of net operating assets, against an accruals ratio of 136.6%. 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.
10d
FY2021→FY2022
Inventory days.Measured to FY2022 — 3 years behind FY2025, the most recent year this filer has reported, because its filings carry no inventory figure after FY2022. What follows is the last reading these filings support on this line, not a read on the business as it files today. Days inventory outstanding moved from 1 to 10 FY2021→FY2022 (against cost of goods sold; inventory +580% vs -20% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead. There's no FY2020 figure on file for inventory, so FY2021 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
OCF ($19M)
FY2021
Shareholder returns.Returned $60,000 to shareholders (buybacks + dividends) in FY2021, while operating cash flow itself was ($19M) — zero or negative. Capex isn't disclosed for FY2021, but free cash flow can't have been positive when operating cash flow already isn't, so the entire return is coming from debt or cash reserves, not cash the business generated.
Key fundamentals
Latest Revenue$3.8M
Revenue Growth YoY+81.1%
Revenue CAGR (3yr)-45.7%
Net Margin-120.6%
Free Cash Flow-$31.8M
Return on Equity-10.5%
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 Future Fintech Group Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 15, 2026. Forensic signals flag probability, not certainty.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -86% over the last 3 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 -48.4%/yr figure isn't a real buyback/dilution read here.
28% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 28% of revenue in FY2025 — about $0.54 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 14.4% a year, and the rate is falling. 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.
$23M
FY2019–FY2023
Goodwill impairments.Took $23M of goodwill writedowns across 5 years (FY2021 ($781,733), FY2022 ($3M), FY2023 ($14M)). Writedowns mean past acquisitions underperformed what was paid for them.