Forensic Analysis · Technology / Software · as of Jun 28, 2026
TruBridge, Inc. (TBRG)
A forensic read on TruBridge, 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
Grey Zone
Financial health
1.8
Altman Z-score
Clean
Earnings quality
5
Forensic signals
89.3
P / E (ttm)
2.5%
ROE
$393M
Market cap
TruBridge, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 1.8, placing it in the Grey zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
6%Return on invested capital.Return on invested capital is 6% and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
suspendedDividend — suspended.The dividend has been SUSPENDED — $4M paid in FY2020, then $0 in FY2022. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
+0.3%/yrShare-count dilution.Diluted share count changed +1% over the last 3 years to FY2025 (+0.3%/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 24% of free cash flow in FY2025 — about $0.60 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$36MGoodwill impairments.Took $36M of goodwill writedowns across 1 year(s) (FY2023 ($36M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin1.3%
Debt / Equity0.93x
Free Cash Flow$35.6M
Latest Revenue$346.8M
Return on Equity2.4%
Revenue Growth YoY+1.4%
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 TruBridge, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about TBRG'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