Forensic Analysis · Trading Companies & Distributors · as of Sep 25, 2026
Olenox Industries Inc. (OLOX)
A forensic read on Olenox Industries 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
-17.4
Distress distance
Watch
Earnings quality
6
Forensic signals
-248.0%
ROE
-40.7%
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.
Olenox Industries Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -17.4, 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). 6 forensic signals were flagged in its latest SEC filings, led by shareholder returns.
What the filings flag
FCF ($8M)
FY2023
Shareholder returns.Returned $42,716 to shareholders (buybacks + dividends) in FY2023, but free cash flow was ($8M) 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 $-6.0M to FY2025 $+17.7M) — 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.
39d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 8 to 39 days FY2024→FY2025 (receivables +201% vs revenue -41%). Receivables are creeping up relative to sales. Across FY2023–FY2025 the day count ran 4 → 8 → 39 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Deferred revenue was roughly flat (-55%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
n/m (stock split)
Key fundamentals
Latest Revenue$3.0M
Revenue Growth YoY-40.7%
Revenue CAGR (2yr)-57.7%
Net Margin-637.4%
Free Cash Flow-$8.4M
Return on Equity-248.0%
Debt / Equity1.33x
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 Olenox Industries Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
Olenox Industries Inc. (OLOX) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
FY2023–FY2025
Share count (stock split).Diluted share count changed -85% over the last 2 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 -61.6%/yr figure isn't a real buyback/dilution read here.
15% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 15% of revenue in FY2025 — about $3.82 per diluted share. It is a real cost, but it is not a cash cost — no cash left the business, which is why operating cash flow adds it back. Where a compensation charge lands instead is the share count, and this filer's count is not on file in enough years to say how the count moved.
$1M
FY2023–FY2023
Goodwill impairments.Took $1M of goodwill writedowns across 1 year (FY2023 ($1M)). Writedowns mean past acquisitions underperformed what was paid for them.