Forensic Analysis · Materials / Mining & Chemicals · as of Aug 12, 2026
Magnera Corp (MAGN)
A forensic read on Magnera Corp 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
Grey Zone
Financial health
1.4
Distress distance
Clean
Earnings quality
6
Forensic signals
-4.0
P / E (ttm)
-14.9%
ROE
$446M
Market cap
0.00%
Dividend yield
46.5%
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.
Magnera Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 1.4, placing it in the Grey zone. 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
0.1%
FY2025
Return on invested capital.Return on invested capital is 0.1% in the latest fiscal year and rising from -11% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
stopped
FY2022→FY2023
Shareholder returns — halted.Capital returns have STOPPED — $19M of buybacks + dividends in FY2022, but ~$0 in FY2023. A halt usually means the company is conserving cash.
suspended
FY2022→FY2023
Dividend — suspended.The dividend has been SUSPENDED — $19M paid in FY2022, then $0 in FY2023. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
+34.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +34.7% 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, and much of it is accounted for. The build is led by inventory up +83% against +47% in cost of sales and receivables up +45% against revenue +47%. That build tracks a +47% revenue year: net operating assets grew +42% and receivables +45%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 11% of net operating assets, diverging from the balance-sheet accrual read.
50d DSO
Key fundamentals
Latest Revenue$3.20B
Revenue Growth YoY+46.5%
Revenue CAGR (3yr)+32.2%
Net Margin-5.0%
Free Cash Flow$36.0M
Return on Equity-14.9%
Debt / Equity1.83x
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 Magnera Corp's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 12, 2026. Forensic signals flag probability, not certainty.
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 44 to 50 days FY2024→FY2025 (receivables +45% vs revenue +47%). Receivables are creeping up relative to sales. Across FY2021–FY2025 the day count ran 49 → 45 → 48 → 44 → 50 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in.
$290M
FY2022–FY2024
Goodwill impairments.Took $290M of goodwill writedowns across 2 years (FY2022 ($119M), FY2024 ($171M)). Writedowns mean past acquisitions underperformed what was paid for them.