Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 12, 2026

Syntec Optics Holdings, Inc. (OPTX)

A forensic read on Syntec Optics Holdings, 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

Safe

Financial health

14.4

Distress distance

Clean

Earnings quality

Forensic signals

-98.9

P / E (ttm)

-18.8%

ROE

$357M

Market cap

0.00%

Dividend yield

-1.3%

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 (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.

Syntec Optics Holdings, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 14.4, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-3.0%

FY2025

Return on invested capital. Return on invested capital is -3.0% in the latest fiscal year and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.

+5.3%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +17% over the last 3 years to FY2025 (+5.3%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~5.3% 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 ~14%.

126d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 103 to 126 FY2024→FY2025 (against cost of goods sold; inventory +13% vs -5% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

1.1% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 1.1% of revenue and 1058% of free cash flow in FY2025 — about $0.01 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 5.5% a year and is falling.

Key fundamentals

Latest Revenue$28.1M

Revenue Growth YoY-1.3%

Revenue CAGR (3yr)+0.3%

Net Margin-6.4%

Free Cash Flow$28,343.00

Return on Equity-18.8%

Debt / Equity0.28x

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Data from SEC EDGAR public filings · metrics as of Aug 12, 2026. Forensic signals flag probability, not certainty.