Forensic Analysis · Trading Companies & Distributors · as of Sep 25, 2026
Vestis Corp (VSTS)
A forensic read on Vestis Corp 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
2.0
Distress distance
Clean
Earnings quality
3
Forensic signals
-317.0
P / E (ttm)
-4.6%
ROE
$1.8B
Market cap
0.00%
Dividend yield
-2.5%
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.
Vestis Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.0, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
2.1%
FY2025
Return on invested capital.Return on invested capital is 2.1% in the latest fiscal year and slipping across FY2023–FY2025 from 6.3%. After-tax operating profit was $172M in FY2023 and $51M in FY2025, with operating income at 7.7% of revenue in FY2023, 5.6% in FY2024 and 2.4% in FY2025. The capital base behind it came down -10% across FY2023–FY2025, from $2.8B to $2.5B, so this is a return struck on a smaller base rather than a record of money put to work.
+0.4%/yr
FY2023–FY2025
Share count.Diluted share count changed +1% over the last 2 years to FY2025 (+0.4%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
240% of FCF
FY2025
Shareholder returns.Returned $14M to shareholders (buybacks + dividends) in FY2025 — 240% of free cash flow, but 22% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $12M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 440%.
Key fundamentals
Latest Revenue$2.73B
Revenue Growth YoY-2.5%
Revenue CAGR (2yr)-1.6%
Net Margin-1.5%
Free Cash Flow$5.8M
Return on Equity-4.6%
Debt / Equity1.33x
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 Vestis Corp's actual 10-K/10-Q/8-K filings?