Forensic Analysis · Consumer Staples / Food & Beverage · as of Oct 2, 2026
Ip Strategy Holdings, Inc. (IPST)
A forensic read on Ip Strategy Holdings, 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
-5.2
Distress distance
Clean
Earnings quality
4
Forensic signals
-140.2%
ROE
20.4%
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.
Ip Strategy Holdings, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -5.2, 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). 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+151.1%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +151.1% 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. The build is led by payables paid down 60% against -27% in cost of sales. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 213% of net operating assets, against an accruals ratio of 151.1%. 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. Read them as two results, not one.
-106.0%
FY2025
Return on invested capital.Return on invested capital is -106.0% in the latest fiscal year, against -94.6% in FY2024. After-tax operating profit was ($13M) in FY2024 and ($106M) in FY2025, with operating income at -177.6% of revenue in FY2024 and -1323.6% in FY2025. The capital base behind it grew +604% across FY2024–FY2025, from $14M to $100M, while the return fell 11.4 points, so the dollars added over that window earned less than the -94.6% the older base was already earning.
+2335.8%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +2336% over the last 1 year to FY2025 (+2335.8%/yr). The count is growing — 0.4M shares in FY2024, 8.6M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2335.8% 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 FY2024 has been diluted ~96%.
Key fundamentals
Latest Revenue$10.1M
Revenue Growth YoY+20.4%
Net Margin-1360.9%
Free Cash Flow-$15.4M
Return on Equity-140.2%
Debt / Equity0.03x
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 Ip Strategy Holdings, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Oct 2, 2026. Forensic signals flag probability, not certainty.
Ip Strategy Holdings, Inc. (IPST) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
44% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 44% of revenue in FY2025 — about $0.52 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 2335.8% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. 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.