Forensic Analysis · Industrials / Manufacturing / Defense · as of Oct 3, 2026
Taylor Devices, Inc. (TAYD)
A forensic read on Taylor Devices, Inc. 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
Safe
Financial health
21.0
Distress distance
Clean
Earnings quality
3
Forensic signals
11.8%
ROE
-10.0%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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, going concern, valuation). 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.
Taylor Devices, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 21.0, 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). 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+16.7%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +16.7% relative to their own average in FY2026 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by payables paid down 49% against -6% in cost of sales. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 2% of net operating assets, against an accruals ratio of 16.7%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
123d
FY2025→FY2026
Inventory days.Days inventory outstanding moved from 115 to 123 FY2025→FY2026 (against cost of goods sold; inventory -7% vs -6% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
9.2%
FY2026
Return on invested capital.Return on invested capital is 9.2% in the latest fiscal year and slipping across FY2024–FY2026 from 16.1%. After-tax operating profit was $8M in FY2024 and $7M in FY2026, with operating income at 21.3% of revenue in FY2024, 20.8% in FY2025 and 17.6% in FY2026. The capital base behind it grew +49% across FY2024–FY2026, from $48M to $72M, while the return fell 6.9 points, so the dollars added over that window earned less than the 16.1% the older base was already earning. $41M of the $72M base at FY2026 is short-term investments (56.4%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns.
Key fundamentals
Latest Revenue$41.6M
Revenue Growth YoY-10.0%
Revenue CAGR (2yr)-3.3%
Net Margin20.6%
Free Cash Flow$4.9M
Return on Equity11.8%
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 Taylor Devices, Inc.'s actual 10-K/10-Q/8-K filings?