Forensic Analysis · Professional & Commercial Services · as of Jul 23, 2026
Resources Connection, Inc. (RGP)
A forensic read on Resources Connection, 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
Distress
Financial health
-0.7
Altman Z-score
Clean
Earnings quality
6
Forensic signals
-92.6%
ROE
-12.9%
Revenue growth
Financial health / Altman Z-score above is based on book value, not market value — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
Resources Connection, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -0.7, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-108.6%
FY2025
Return on invested capital.Return on invested capital is -108.6% in the latest fiscal year and slipping from 19% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
1.2% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.2% of revenue and 42% of free cash flow in FY2025 — about $0.20 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
195% of FCF
FY2025
Shareholder returns.Returned $32M to shareholders (buybacks + dividends) in FY2025 — 195% 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 $7M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 237%.
69d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 63 to 69 days FY2024→FY2025 (receivables -9% vs revenue -13%). Receivables are creeping up relative to sales — watch the trend.
-0.5%/yr
FY2022–FY2025
Share count.Diluted share count changed -1% over the last 3 years to FY2025 (-0.5%/yr). Roughly flat — buybacks ($13M) are about offsetting stock comp ($7M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$551.3M
Revenue Growth YoY-12.9%
Revenue CAGR (3yr)-11.9%
Net Margin-34.8%
Free Cash Flow$15.3M
Return on Equity-92.6%
Debt / Equity0.00x
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 Resources Connection, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about RGP'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
Data from SEC EDGAR public filings · metrics as of Jul 23, 2026. Forensic signals flag probability, not certainty.
Resources Connection, Inc. (RGP) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$197M
FY2023–FY2025
Goodwill impairments.Took $197M of goodwill writedowns across 2 years (FY2023 ($3M), FY2025 ($194M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.