Forensic Analysis · Retail / Consumer Discretionary · as of Aug 11, 2026
Kura Sushi Usa, Inc. (KRUS)
A forensic read on Kura Sushi Usa, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
3.2
Distress distance
Clean
Earnings quality
5
Forensic signals
-287.2
P / E (ttm)
-0.8%
ROE
$585M
Market cap
0.00%
Dividend yield
18.9%
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.
Kura Sushi Usa, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 3.2, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+48.8%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +48.8% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by PP&E up +24% against revenue +19%. This is the sixth straight fiscal year of building accruals — an even longer streak than the 3-year mark that already signals a materially stronger tell. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 18% of net operating assets, diverging from the balance-sheet accrual read.
17d DSO
FY2019→FY2020
Receivables vs revenue.Days sales outstanding moved from 5 to 17 days FY2019→FY2020 (receivables +125% vs revenue -30%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. There's no FY2018 figure on file for receivables, so FY2019 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.
-1.1%
FY2025
Return on invested capital.Return on invested capital is -1.1% in the latest fiscal year and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+7.0%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +23% over the last 3 years to FY2025 (+7.0%/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 ~7.0% 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 FY2022 has been diluted ~18%.
Key fundamentals
Latest Revenue$282.8M
Revenue Growth YoY+18.9%
Revenue CAGR (3yr)+26.1%
Net Margin-0.7%
Free Cash Flow-$21.4M
Return on Equity-0.8%
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 Kura Sushi Usa, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
1.7% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.7% of revenue in FY2025 — about $0.40 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 7.0% a year and is falling.
Kura Sushi Usa, Inc. (KRUS) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy