Forensic Analysis · Semiconductors · as of Aug 12, 2026
Gsi Technology Inc (GSIT)
A forensic read on Gsi Technology 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
Safe
Financial health
14.5
Distress distance
Clean
Earnings quality
4
Forensic signals
-14.9
P / E (ttm)
-16.2%
ROE
$253M
Market cap
0.00%
Dividend yield
22.4%
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.
Gsi Technology Inc earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 14.5, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-64.1%
FY2026
Return on invested capital.Return on invested capital is -64.1% in the latest fiscal year and slipping from -49% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+9.0%/yr
FY2023–FY2026
Share-count dilution.Diluted share count changed +29% over the last 3 years to FY2026 (+9.0%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~9.0% 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 ~23%.
11% of rev
FY2026
Stock-based comp load.Stock-based compensation ran 11% of revenue in FY2026 — about $0.09 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 9.5% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
-$46.2M
FY2024–FY2026
Cash burn vs. reported loss.Over FY2024–FY2026, the company reported a cumulative net loss of $44.0M against operating cash flow of -$46.2M. Cash burn ran heavier than the reported loss — something outside net income (working capital, a cash item not in the P&L) is consuming cash faster than the loss alone implies.
Key fundamentals
Latest Revenue$25.1M
Revenue Growth YoY+22.4%
Revenue CAGR (3yr)-5.4%
Net Margin-52.7%
Free Cash Flow-$16.4M
Return on Equity-16.2%
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 Gsi Technology Inc's actual 10-K/10-Q/8-K filings?