Forensic Analysis · Industrials / Manufacturing / Defense · as of Jul 6, 2026
NN INC (NNBR)
A forensic read on NN 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
-1.8
Altman Z-score
Clean
Earnings quality
6
Forensic signals
-22.4%
ROE
$293M
Market cap
NN INC earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is -1.8, placing it in the Distress zone. 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-4%Return on invested capital.Return on invested capital is -4% in the latest fiscal year and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+3.4%/yrShare-count dilution.Diluted share count changed +11% over the last 3 years to FY2025 (+3.4%/yr). The count is GROWING — existing holders are being diluted. That's ~3.4% 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 ~10%.
stoppedShareholder returns — halted.Capital returns have STOPPED — $9M of buybacks + dividends in FY2019, but ~$0 in FY2021. A halt usually means the company is conserving cash; understand why before reading it as neutral.
suspendedDividend — suspended.The dividend has been SUSPENDED — $9M paid in FY2019, then $0 in FY2021. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
52d DSOReceivables vs revenue.Days sales outstanding moved from 48 to 52 days FY2024→FY2025 (receivables -3% vs revenue -9%). Receivables are creeping up relative to sales — watch the trend.
$93MGoodwill impairments.Took $93M of goodwill writedowns across 1 year (FY2020 ($93M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Latest Revenue$422.2M
Revenue Growth YoY-9.1%
Net Margin-8.1%
Free Cash Flow$-7.2M
Return on Equity-100.0%
Debt / Equity4.69x
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 NN INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about NNBR'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