Forensic Analysis · General / Diversified · as of Jun 27, 2026
Xometry, Inc. (XMTR)
A forensic read on Xometry, 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
Distress
Financial health
0.5
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-18.9%
ROE
$5.0B
Market cap
Xometry, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 0.5, placing it in the Distress zone. 3 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 rising from -10% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+28.8%/yrShare-count dilution.Diluted share count changed +86% over the last 3 years to FY2024 (+28.8%/yr). The count is GROWING — existing holders are being diluted. That's ~28.8% 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 FY2021 has been diluted ~86%.
$2MGoodwill impairments.Took $2M of goodwill writedowns across 1 year(s) (FY2020 ($2M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-9.0%
Debt / Equity0.06x
Free Cash Flow$-24.1M
Latest Revenue$686.6M
Return on Equity-22.4%
Revenue Growth YoY+25.9%
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 Xometry, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about XMTR'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