Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 10, 2026

Park Aerospace Corp (PKE)

A forensic read on Park Aerospace Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

16.9

Distress distance

Clean

Earnings quality

Forensic signals

64.0

P / E (ttm)

8.7%

ROE

$807M

Market cap

1.34%

Dividend yield

18.2%

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.

Park Aerospace Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 16.9, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

128% of FCF

FY2026

Shareholder returns. Returned $12M to shareholders (buybacks + dividends) in FY2026 — 128% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely. Counting the $401,000 of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 132%.

0.84×

FY2023, FY2025, and FY2026

Cash conversion. Over FY2023, FY2025, and FY2026, operating cash flow was 0.84× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.

-0.5%/yr

FY2022–FY2026

Share count. Diluted share count changed -2% over the last 4 years to FY2026 (-0.5%/yr). Roughly flat — buybacks ($2M) are about offsetting stock comp ($401,000), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

-79%

FY2014→FY2015

Dividend — cut. The payout was CUT ~79% in FY2015 (from FY2014) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$73.3M

Revenue Growth YoY+18.2%

Revenue CAGR (3yr)+14.5%

Net Margin15.4%

Free Cash Flow$9.5M

Return on Equity8.7%

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.