Forensic Analysis · General / Diversified · as of Jun 27, 2026
Groupon, Inc. (GRPN)
A forensic read on Groupon, 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
-7.7
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-20.8%
ROE
$858M
Market cap
Groupon, Inc. earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -7.7, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+11.2%/yrShare-count dilution.Diluted share count changed +34% over the last 3 years to FY2025 (+11.2%/yr). The count is GROWING — existing holders are being diluted. That's ~11.2% 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 FY2022 has been diluted ~34%.
8% of revStock-based comp load.Stock-based compensation ran 8% of revenue and 76% of free cash flow in FY2025 — about $0.94 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
stoppedShareholder returns — halted.Capital returns have STOPPED — $46M of buybacks + dividends in FY2019, but ~$0 in FY2021. A halt usually means the company is conserving cash; understand why before reading it as neutral.
$145MGoodwill impairments.Took $145M of goodwill writedowns across 2 year(s) (FY2020 ($109M), FY2022 ($35M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-16.8%
Free Cash Flow$49.9M
Latest Revenue$498.4M
Revenue Growth YoY+1.2%
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 Groupon, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about GRPN'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