Forensic Analysis · Technology / Software · as of Sep 25, 2026
Vistance Networks, Inc. (VISN)
A forensic read on Vistance Networks, 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
Grey Zone
Financial health
2.2
Distress distance
Watch
Earnings quality
4
Forensic signals
0.5
P / E (ttm)
$1.5B
Market cap
39.7%
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, 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.
Vistance Networks, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.2, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
0.6%
FY2025
Return on invested capital.Return on invested capital is 0.6% in the latest fiscal year and rising across FY2023–FY2025 from -7.0%. After-tax operating profit was ($521M) in FY2023 and $43M in FY2025, with operating income at -35.4% of revenue in FY2023, -21.1% in FY2024 and 2.5% in FY2025. The capital base behind it barely moved across FY2023–FY2025 ($7.5B to $7.1B, -5%), so there has been little new capital for that return to be earned on. FY2023's operating profit carried a $1.2B asset write-down, a $571M goodwill write-off and a $29M restructuring charge that took about 19.5 points off that year's return, and FY2025's carried a $20M restructuring charge that took about 0.2 points off the latest; so, net of each other, the two charges add about 19.3 points to the +7.6-point change across FY2023–FY2025. FY2024's operating profit carried a $37M restructuring charge and a $19M asset write-down that alone took about 0.6 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.
+4.4%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +9% over the last 2 years to FY2025 (+4.4%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~4.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~8%.
2% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 2% of revenue and 17% of free cash flow in FY2025 — about $0.19 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 4.5% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$1.93B
Revenue Growth YoY+39.7%
Revenue CAGR (2yr)+1.8%
Net Margin118.2%
Free Cash Flow$252.6M
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 Vistance Networks, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
Vistance Networks, Inc. (VISN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$571M
FY2023–FY2023
Goodwill impairments.Took $571M of goodwill writedowns across 1 year (FY2023 ($571M)). Writedowns mean past acquisitions underperformed what was paid for them.