Forensic Analysis · Durable-Goods Wholesale · as of Nov 9, 2026
Wesco International Inc (WCC)
A forensic read on Wesco International 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
4.1
Distress distance
3
Forensic signals
12.8%
ROE
7.8%
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 (auditor quality, say on pay, board independence, going concern). 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.
Wesco International Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 4.1, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by shareholder returns.
What the filings flag
648% of FCF
FY2025
Shareholder returns.Returned $163M to shareholders (buybacks + dividends) in FY2025 — 648% of free cash flow. That is $138M (548%) more than free cash flow covered, and more than operating cash flow as well. The balance sheet covered it: cash fell $95M and total debt rose $716M over FY2025. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $40M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 809%.
0.81×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, cumulative operating cash flow was 0.81× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.Cash conversion: operating cash flow divided by net income, the share of profit that arrived as cash.
8.3%
FY2025
Return on invested capital.Return on invested capital is 8.3% in the latest fiscal year and steady across FY2023–FY2025, inside a 1.4-point range. After-tax operating profit was $1.1B in FY2023 and $926M in FY2025, with operating income at 6.3% of revenue in FY2023, 5.6% in FY2024 and 5.2% in FY2025. The capital base behind it went from $11.2B in FY2023 to $11.1B in FY2025 (-1%), while the revenue it carried went from $22.4B to $23.5B.
Key fundamentals
Latest Revenue$23.51B
Revenue Growth YoY+7.8%
Revenue CAGR (2yr)+2.5%
Net Margin2.7%
Free Cash Flow$25.2M
Return on Equity12.8%
Debt / Equity1.15x
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 Wesco International Inc's actual 10-K/10-Q/8-K filings?