Forensic Analysis · General / Diversified · as of Jul 2, 2026
Turtle Beach Corp (TBCH)
A forensic read on Turtle Beach Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Grey Zone
Financial health
2.5
Altman Z-score
Clean
Earnings quality
4
Forensic signals
208.7
P / E (ttm)
1.0%
ROE
$255M
Market cap
Turtle Beach Corp earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 2.5, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
126dInventory days.Days inventory outstanding moved from 107 to 126 FY2024→FY2025 (against cost of goods sold; inventory -3% vs -18% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
15%Return on invested capital.Return on invested capital is 15% and rising from -46% — around its ~9% cost of capital, so growth is roughly value-neutral — watch the trend.
+0.0%/yrShare-count dilution.Diluted share count changed +0% over the last 3 years to FY2025 (+0.0%/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.
2% of revStock-based comp load.Stock-based compensation ran 2% of revenue and 18% of free cash flow in FY2025 — about $0.30 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin4.9%
Debt / Equity0.43x
Free Cash Flow$34.0M
Latest Revenue$319.9M
Return on Equity12.2%
Revenue Growth YoY-14.2%
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 Turtle Beach Corp:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about TBCH'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