Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026

Quinstreet, Inc (QNST)

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

C · Mixed — selective

Forensic grade

Safe

Financial health

7.9

Distress distance

Clean

Earnings quality

Forensic signals

18.1

P / E (ttm)

-14.4%

ROE

$1.3B

Market cap

5.7%

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.

Quinstreet, Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 7.9, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-11.6%

FY2024

Return on invested capital. Return on invested capital is -11.6% in the latest fiscal year and slipping from 5% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

53d DSO

FY2023→FY2024

Receivables vs revenue. Days sales outstanding moved from 47 to 53 days FY2023→FY2024 (receivables +65% vs revenue +6%). Receivables are creeping up relative to sales. Across FY2020–FY2024 the day count ran 52 → 48 → 53 → 47 → 53 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 (-100%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build.

-0.1%/yr

FY2021–FY2024

Share count. Diluted share count changed -0% over the last 3 years to FY2024 (-0.1%/yr). Roughly flat — buybacks ($2M) are about offsetting stock comp ($24M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$613.5M

Revenue Growth YoY+5.7%

Revenue CAGR (3yr)+2.0%

Net Margin-5.1%

Free Cash Flow$6.7M

Return on Equity-14.4%

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 Quinstreet, Inc's actual 10-K/10-Q/8-K filings?

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.