Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026
Rmr Group Inc. (RMR)
A forensic read on Rmr Group 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
5.2
Distress distance
Clean
Earnings quality
4
Forensic signals
29.7
P / E (ttm)
7.7%
ROE
$622M
Market cap
9.57%
Dividend yield
-22.0%
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.
Rmr Group Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.2, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+32.1%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +32.1% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 15% of net operating assets, diverging from the balance-sheet accrual read.
5.8%
FY2025
Return on invested capital.Return on invested capital is 5.8% in the latest fiscal year and slipping from 31% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -47% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -19.0%/yr figure isn't a real buyback/dilution read here.
-82%
FY2021→FY2022
Dividend — cut.The payout was CUT ~82% in FY2022 (from FY2021) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies. Measured on total dividend dollars rather than per share: the reported share count steps sharply around FY2020, a stock-split seam between filing vintages rather than a change in the payout, and a split leaves the dollars paid untouched.
Key fundamentals
Latest Revenue$700.3M
Revenue Growth YoY-22.0%
Net Margin2.5%
Free Cash Flow$72.1M
Return on Equity7.7%
Debt / Equity0.20x
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 Rmr Group Inc.'s actual 10-K/10-Q/8-K filings?