Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 27, 2026
Jfb Construction Holdings (JFB)
A forensic read on Jfb Construction Holdings 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
17.4
Distress distance
Watch
Earnings quality
5
Forensic signals
-13.9%
ROE
32.3%
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). 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.
Jfb Construction Holdings earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 17.4, placing it in the Safe 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). 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+142.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +142.7% 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 receivables up +203% against revenue +32%. A cash-flow measure on the same base agrees: reported earnings ran ahead of operating cash by 30% of net operating assets, against an accruals ratio of 142.7%. 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.
110d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 48 to 110 days FY2024→FY2025 (receivables +203% vs revenue +32%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Deferred revenue was roughly flat (-39%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. There's no FY2023 figure on file for receivables, so FY2024 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.
-11.8%
FY2025
Return on invested capital.Return on invested capital is -11.8% in the latest fiscal year, against -0% in FY2024 — below its ~9% cost of capital. If that gap persists through the cycle, incremental reinvestment reduces rather than creates value per share.
+8.7%/yr
Key fundamentals
Latest Revenue$30.5M
Revenue Growth YoY+32.3%
Net Margin-17.3%
Free Cash Flow-$12.0M
Return on Equity-13.9%
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 Jfb Construction Holdings's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 27, 2026. Forensic signals flag probability, not certainty.
Jfb Construction Holdings (JFB) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
FY2024–FY2025
Share-count dilution.Diluted share count changed +9% over the last 1 year to FY2025 (+8.7%/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 ~8.7% 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 ~8%.
-$8.3M
FY2024–FY2025
Cash burn vs. reported loss.Over FY2024–FY2025, the company reported a cumulative net loss of $5.2M against operating cash flow of -$8.3M. 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.