Forensic Analysis · Technology / Software · as of Jul 1, 2026
GCT Semiconductor Holding, Inc. (GCTS)
A forensic read on GCT Semiconductor Holding, 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
-171.1
Altman Z-score
Clean
Earnings quality
4
Forensic signals
$279M
Market cap
GCT Semiconductor Holding, Inc. earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -171.1, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-0%Return on invested capital.Return on invested capital is -0% and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+60.2%/yrShare-count dilution.Diluted share count changed +120% over the last 2 years to FY2025 (+60.2%/yr). The count is GROWING — existing holders are being diluted. That's ~60.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~120%.
331d DSOReceivables vs revenue.Days sales outstanding moved from 230 to 331 days FY2024→FY2025 (receivables -55% vs revenue -69%). Receivables are creeping up relative to sales — watch the trend.
221% of revStock-based comp load.Stock-based compensation ran 221% of revenue in FY2025 — about $0.12 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-1513.3%
Free Cash Flow$-33.1M
Latest Revenue$2.9M
Revenue Growth YoY-68.6%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on GCT Semiconductor Holding, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about GCTS's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown