Forensic Analysis · Transportation / Logistics · as of Jul 31, 2026
Seacor Marine Holdings Inc. (SMHI)
A forensic read on Seacor Marine Holdings Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
0.9
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-10.5%
ROE
$258M
Market cap
-16.0%
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.
Seacor Marine Holdings Inc. earns an F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is 0.9, 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
2.0%
FY2025
Return on invested capital.Return on invested capital is 2.0% in the latest fiscal year and rising from -6% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
FCF ($85M)
FY2025
Shareholder returns.Returned $7M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($85M) 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.
108d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 90 to 108 days FY2024→FY2025 (receivables -8% vs revenue -16%). Receivables are creeping up relative to sales — watch the trend.
Key fundamentals
Latest Revenue$227.8M
Revenue Growth YoY-16.0%
Net Margin-12.2%
Free Cash Flow-$85.2M
Return on Equity-10.5%
Debt / Equity1.27x
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 Seacor Marine Holdings Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about SMHI'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