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Forensic Analysis · Software & SaaS · as of Nov 9, 2026

N-able, Inc. (NABL)

A forensic read on N-able, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.8
Distress distance
Clean
Earnings quality
1
Forensic signals
-2.4%
ROE
9.3%
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 (auditor quality, say on pay, board independence, going concern). 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.

N-able, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.8, placing it in the Grey zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

2.4%
FY2025
Return on invested capital. Return on invested capital is 2.4% in the latest fiscal year and slipping across FY2023–FY2025 from 4.9%. After-tax operating profit was $46M in FY2023 and $27M in FY2025, with operating income at 16.7% of revenue in FY2023, 17.6% in FY2024 and 6.7% in FY2025. The capital base behind it grew +19% across FY2023–FY2025, from $932M to $1.1B, while the return fell 2.5 points, so the dollars added over that window earned less than the 4.9% the older base was already earning.

Key fundamentals

Latest Revenue$508.8M
Revenue Growth YoY+9.3%
Revenue CAGR (2yr)+9.8%
Net Margin-3.7%
Free Cash Flow$75.1M
Return on Equity-2.4%
Debt / Equity0.49x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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