Forensic Analysis · Technology / Software · as of Aug 4, 2026
Microvision, Inc. (MVIS)
A forensic read on Microvision, 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
-2.6
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-0.8
P / E (ttm)
-171.0%
ROE
$1.3B
Market cap
0.00%
Dividend yield
-74.3%
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.
Microvision, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -2.6, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+43.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +43.4% 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 cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 104% of net operating assets, diverging from the balance-sheet accrual read.
+18.1%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +65% over the last 3 years to FY2025 (+18.1%/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 ~18.1% 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 ~39%.
147d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 73 to 147 days FY2024→FY2025 (receivables -95% vs revenue -74%). Receivables are creeping up relative to sales.
58% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 58% of revenue in FY2025 — about $0.00 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Latest Revenue$1.2M
Revenue Growth YoY-74.3%
Net Margin-7862.7%
Free Cash Flow-$59.4M
Return on Equity-171.0%
Debt / Equity0.35x
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Microvision, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about MVIS's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown