Forensic Analysis · Semiconductors · as of Sep 25, 2026
Wolfspeed, Inc. (WOLF)
A forensic read on Wolfspeed, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Grey Zone
Financial health
1.4
Distress distance
Clean
Earnings quality
5
Forensic signals
307.8
P / E (ttm)
-173.0%
ROE
$1.4B
Market cap
0.00%
Dividend yield
-6.1%
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.
Wolfspeed, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 1.4, 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
-11.4%
FY2025
Return on invested capital.Return on invested capital is -11.4% in the latest fiscal year, against -5.6% in FY2024. After-tax operating profit was ($352M) in FY2024 and ($1.1B) in FY2025, with operating income at -55.2% of revenue in FY2024 and -175.4% in FY2025. The capital base behind it grew +47% across FY2024–FY2025, from $6.3B to $9.2B, while the return fell 5.8 points, so the dollars added over that window earned less than the -5.6% the older base was already earning. FY2025's operating profit carried a $359M goodwill write-off, a $92M restructuring charge and a $5M asset write-down that alone took about 3.9 points off that year's return, so about 3.9 of the 5.8-point fall across FY2024–FY2025 is that charge landing in the latest year rather than the capital earning less.
+12.4%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +12% over the last 1 year to FY2025 (+12.4%/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 ~12.4% 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 FY2024 has been diluted ~11%.
75d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 67 to 75 days FY2024→FY2025 (receivables +6% vs revenue -6%). Receivables are creeping up relative to sales. Deferred revenue was roughly flat (-25%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. There's no FY2023 figure on file for receivables, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
Key fundamentals
Latest Revenue$757.6M
Revenue Growth YoY-6.1%
Net Margin-212.4%
Free Cash Flow-$1.98B
Return on Equity-173.0%
Debt / Equity14.06x
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 Wolfspeed, 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.
Wolfspeed, Inc. (WOLF) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
10% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 10% of revenue in FY2025 — about $0.52 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 12.4% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. 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.
$359M
FY2025–FY2025
Goodwill impairments.Took $359M of goodwill writedowns across 1 year (FY2025 ($359M)). Writedowns mean past acquisitions underperformed what was paid for them.