Forensic Analysis · Energy / Oil & Gas · as of Jul 22, 2026
Stabilis Solutions, Inc. (SLNG)
A forensic read on Stabilis Solutions, 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
2.9
Altman Z-score
Clean
Earnings quality
5
Forensic signals
-2.0%
ROE
-6.9%
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.
Stabilis Solutions, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 2.9, placing it in the Safe 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). 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-1.2%
FY2025
Return on invested capital.Return on invested capital is -1.2% in the latest fiscal year and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
0.7% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.7% of revenue and 97% of free cash flow in FY2025 — about $0.02 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.
FCF ($1M)
FY2018
Shareholder returns.Returned $49,000 to shareholders (buybacks + dividends) in FY2018, but free cash flow was ($1M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
$100,000
FY2023–FY2023
Goodwill impairments.Took $100,000 of goodwill writedowns across 1 year (FY2023 ($100,000)) — about 80% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
+0.6%/yr
FY2022–FY2025
Share count.Diluted share count changed +2% over the last 3 years to FY2025 (+0.6%/yr). Roughly flat — buybacks are about offsetting stock comp, not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$68.2M
Revenue Growth YoY-6.9%
Revenue CAGR (3yr)-11.6%
Net Margin-2.0%
Free Cash Flow$7.1M
Return on Equity-2.0%
Debt / Equity0.12x
Go deeper — free with an account
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🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown