Forensic Analysis · Media / Entertainment / Streaming · as of Aug 11, 2026
Newsmax Inc. (NMAX)
A forensic read on Newsmax 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
Safe
Financial health
4.7
Distress distance
Clean
Earnings quality
5
Forensic signals
-13.8
P / E (ttm)
-93.8%
ROE
$1.1B
Market cap
0.06%
Dividend yield
10.7%
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.
Newsmax Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 4.7, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-57.1%
FY2025
Return on invested capital.Return on invested capital is -57.1% in the latest fiscal year— well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
FCF ($107M)
FY2025
Shareholder returns.Returned $915,069 to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($107M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-33.1M to FY2025 $+85.6M) — 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.
64d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 60 to 64 days FY2024→FY2025 (receivables +18% vs revenue +11%). Receivables are creeping up relative to sales. Deferred revenue was roughly flat (-8%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. There's no FY2023 figure on file for receivables, so FY2024 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.
Key fundamentals
Latest Revenue$189.3M
Revenue Growth YoY+10.7%
Net Margin-52.6%
Free Cash Flow-$107.1M
Return on Equity-93.8%
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 Newsmax 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.
n/m (stock split)
FY2024–FY2025
Share count (stock split).Diluted share count changed +163% over the last 1 year to FY2025, but that includes a large one-time change around FY2025 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 +163.5%/yr figure isn't a real buyback/dilution read here.
Newsmax Inc. (NMAX) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy