Forensic Analysis · General / Diversified · as of Sep 13, 2026
Nocera, Inc. (NCRA)
A forensic read on Nocera, 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
Distress
Financial health
-5.1
Distress distance
Clean
Earnings quality
5
Forensic signals
-9.0%
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, going concern, valuation). 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.
Nocera, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -5.1, placing it in the Distress 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 return on invested capital.
What the filings flag
-121.7%
FY2025
Return on invested capital.Return on invested capital is -121.7% in the latest fiscal year and slipping from 0% — well below its ~9% cost of capital, and it has been across FY2019–FY2025, so reinvested dollars have not been earning their keep.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from positive to negative FY2024→FY2025 (FY2024 $+1.7M to FY2025 $-5.8M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -94% over the last 3 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -60.6%/yr figure isn't a real buyback/dilution read here.
0.5% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.5% of revenue in FY2025 — about $0.12 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 18.8% a year, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$11.0M
Revenue Growth YoY-9.0%
Net Margin-26.1%
Free Cash Flow-$2.6M
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 Nocera, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 13, 2026. Forensic signals flag probability, not certainty.
$5M
FY2023–FY2024
Goodwill impairments.Took $5M of goodwill writedowns across 2 years (FY2023 ($2M), FY2024 ($3M)). Writedowns mean past acquisitions underperformed what was paid for them.
Nocera, Inc. (NCRA) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy