Forensic Analysis · Technology / Software · as of Aug 12, 2026

One Stop Systems, Inc. (OSS)

A forensic read on One Stop Systems, 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

16.7

Distress distance

Watch

Earnings quality

Forensic signals

118.2

P / E (ttm)

11.1%

ROE

$317M

Market cap

0.00%

Dividend yield

31.2%

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.

One Stop Systems, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 16.7, 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

-16.6%

FY2025

Return on invested capital. Return on invested capital is -16.6% in the latest fiscal year and slipping from 2% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

+5.6%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +18% over the last 3 years to FY2025 (+5.6%/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 ~5.6% 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 ~15%.

6% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 6% of revenue in FY2025 — about $0.08 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 5.6% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.

$7M

FY2019–FY2023

Goodwill impairments. Took $7M of goodwill writedowns across 2 years (FY2019 ($2M), FY2023 ($6M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$32.2M

Revenue Growth YoY+31.2%

Revenue CAGR (3yr)-23.7%

Net Margin15.8%

Free Cash Flow-$6.7M

Return on Equity11.1%

Debt / Equity0.00x

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