Forensic Analysis · Energy / Oil & Gas · as of Jul 2, 2026
RGC RESOURCES INC (RGCO)
A forensic read on RGC RESOURCES 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
Distress
Financial health
1.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
18.1
P / E (ttm)
11.9%
ROE
$253M
Market cap
3.66%
Dividend yield
RGC RESOURCES INC earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 1.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
5%Return on invested capital.Return on invested capital is 5% and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+4.3%/yrShare-count dilution.Diluted share count changed +13% over the last 3 years to FY2025 (+4.3%/yr). The count is GROWING — existing holders are being diluted. That's ~4.3% 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 ~13%.
103% of FCFShareholder returns.Returned $8M to shareholders (buybacks + dividends) in FY2025 — 103% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet.
Key fundamentals
Net Margin13.9%
Debt / Equity1.31x
Free Cash Flow$8.2M
Latest Revenue$95.3M
Return on Equity11.7%
Revenue Growth YoY+12.6%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on RGC RESOURCES INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about RGCO's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown