Forensic Analysis · Retail / Consumer Discretionary · as of Aug 12, 2026

Star Group, L.P. (SGU)

A forensic read on Star Group, L.P. 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

0.5

Distress distance (no retained-earnings input)

Clean

Earnings quality

Forensic signals

4.2

P / E (ttm)

24.8%

ROE

$414M

Market cap

6.19%

Dividend yield

1.0%

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.

Star Group, L.P. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 0.5, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+25.7%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +25.7% 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 build is led by inventory up +13% against -3% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 1% of net operating assets, diverging from the balance-sheet accrual read.

14.0%

FY2025

Return on invested capital. Return on invested capital is 14.0% in the latest fiscal year and rising from 8% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

Key fundamentals

Latest Revenue$1.78B

Revenue Growth YoY+1.0%

Revenue CAGR (3yr)-3.8%

Net Margin4.1%

Free Cash Flow$56.0M

Return on Equity24.8%

Debt / Equity0.63x

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Data from SEC EDGAR public filings · metrics as of Aug 12, 2026. Forensic signals flag probability, not certainty.