Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| CPI Aerostructures Inc.CVU · manufacturing | |
|---|---|
| Grade |  Eweakest fifth of 255 graded peers; percentile 88.6, sampling error 3.0 points; lower is stronger |
| Rank | 226 of 255 |
| Profitability | Dpercentile 77.0 |
| Solvency | Dpercentile 67.0 |
| Growth and financing | C/Dpercentile 57.1 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $75.2M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filernot computable: dilution, short runway, distress, fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Apr 29, 2026163 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $5.082026-10-08; market equity $67.3M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 31, 2026; the document on sec.gov.
Aerostructures, Inc., including its wholly owned subsidiary Welding Metallurgy, Inc. (“WMI”) and Compac Development Corporation, a wholly owned subsidiary of WMI (collectively, “CPI Aero”, the “Company”, “us”, or “we”) manufactures structural assemblies, integrated systems, and kitting services for the domestic and international aerospace and defense (“A&D”) markets. Our products are generally used by customers in the production and refurbishment of fixed wing aircraft, helicopters, electronic warfare (“EW”) systems, intelligence, surveillance, and reconnaissance (“ISR”) systems, missiles, autonomous systems, and other sophisticated A&D products. CPI Aero is a prime contractor to the U.S.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 77.0 | |||||||
| Gross profitability | 14.0% | [1,3] | 21.9% | 75.9 | 275 | 2025-12-31 | |
| Return on invested capital | not computable | 9.7% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | 6.1% | [1,4-6] | (3.6%) | 95.1 | 308 | 2025-12-31 | |
| Gross margin stability, five years | 2.7 pts | [2-3,7-14] | 2.1 pts | 60.1 | 229 | 2025-12-31 | |
| Solvency, sleeve percentile 67.0 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 0.17 | [1,15-20] | 3.66 | 74.5 | 244 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.78x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 5.09x | |||||
| latest aligned inputs end 2024-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 1.89x | [15-16] | 2.25x | 59.6 | 325 | 2025-12-31 | |
| Growth and financing, sleeve percentile 57.1 | |||||||
| Revenue growth, three-year compound | (6.0%) | [2,8,10,12] | 2.1% | 84.3 | 269 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 13.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 26.4% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | 8.2% | [1,6,21-22] | 4.4% | 29.9 | 279 | 2025-12-31 | |
| Net share issuance, one year | not computable | 0.01% | |||||
| prior share count is 32 days earlier | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.354; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 221 | IT Tech Packaging, Inc. (ITP) IT Tech Packaging, Inc. (ITP) Eweakest fifth; percentile 86.6 NYSE · Converted Paper & Paperboard Prods (No Contaners/Boxes) market equity $2.5M; last close $0.15 Warnings: late filer, fortress balance sheet; 9 of 14 inputs | 86.6 | E | late filer, fortress balance sheet |
| 222 | Matthews International Corp. (MATW) Matthews International Corp. (MATW) Eweakest fifth; percentile 87.0 Nasdaq · Nonferrous Foundries (Castings) market equity $602.7M; last close $19.32 No active warnings; 9 of 14 inputs | 87.0 | E | |
| 223 | Liqtech International Inc. (LIQT) Liqtech International Inc. (LIQT) Eweakest fifth; percentile 87.4 Nasdaq · Misc Industrial & Commercial Machinery & Equipment market equity $14.8M; last close $0.47 No active warnings; 7 of 14 inputs | 87.4 | E | |
| 224 | Graphic Packaging Holding Co. (GPK) Graphic Packaging Holding Co. (GPK) Eweakest fifth; percentile 87.8 NYSE · Paperboard Containers & Boxes market equity $2.5B; last close $8.57 No active warnings; 9 of 14 inputs | 87.8 | E | |
| 225 | SunCoke Energy, Inc. (SXC) SunCoke Energy, Inc. (SXC) Eweakest fifth; percentile 88.2 NYSE · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $827.5M; last close $9.72 No active warnings; 9 of 14 inputs | 88.2 | E | |
| 226 | CPI Aerostructures Inc. (CVU) CPI Aerostructures Inc. (CVU) Eweakest fifth; percentile 88.6 NYSE · Aircraft Parts & Auxiliary Equipment, NEC market equity $67.6M; last close $5.08 Warnings: late filer; 7 of 14 inputs | 88.6 | E | late filer |
| 227 | Goodyear Tire & Rubber Co. (GT) Goodyear Tire & Rubber Co. (GT) Eweakest fifth; percentile 89.0 Nasdaq · Tires & Inner Tubes market equity $1.4B; last close $4.75 No active warnings; 7 of 14 inputs | 89.0 | E | |
| 228 | Greenbrier Companies Inc. (GBX) Greenbrier Companies Inc. (GBX) Eweakest fifth; percentile 89.4 NYSE · Railroad Equipment market equity $1.2B; last close $38.63 No active warnings; 7 of 14 inputs | 89.4 | E | |
| 229 | Boeing Co. (BA) Boeing Co. (BA) Eweakest fifth; percentile 90.0 NYSE · Aircraft last close $187.74 No active warnings; 11 of 14 inputs | 90.0 | E | |
| 230 | Boeing Co. (BA-PA) Boeing Co. (BA-PA) Eweakest fifth; percentile 90.0 NYSE · Aircraft No active warnings; 11 of 14 inputs | 90.0 | E | |
| 231 | Metallus Inc. (MTUS) Metallus Inc. (MTUS) Eweakest fifth; percentile 90.6 NYSE · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $814.1M; last close $19.66 Warnings: fortress balance sheet; 7 of 14 inputs | 90.6 | E | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D/E | 80.7 | 2204 |
| sector peers, equal sleeves (the grade) | E | 88.6 | 255 |
| same exchange, equal sleeves | E | 84.7 | 984 |
| sector peers, equal inputs | E | 90.6 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 107.9% | 13.7% | 95 | hotter than 95 of 100 peers |
| Distance from 52-week high | (13.0%) | (24.3%) | 78 | closer to its high than 78 of 100 peers |
| EBIT to enterprise value | not computable | 4.1% | required accounting or market input is missing | |
| Free cash flow yield | (7.8%) | 3.4% | 11 | pricier than 89 of 100 peers |
| Book value to price | 0.42 | 0.34 | 57 | pricier than 43 of 100 peers |
| Sales to price | 1.02 | 0.54 | 70 | pricier than 30 of 100 peers |
| Composite equity issuance, five years | not computable | (9.5%) | five-year total-return history is required | |
| Relative strength against the sector, log excess return | 0.60 | (0.00) | 95 | ahead of 95 of 100 peers |
Inputs: market equity $67.6M; EBIT -$176,382; free cash flow -$5.3M; book equity $28.1M; sales $69.3M; debt $0[23].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (1.2%) | ✗ fail[4,6] |
| Operating cash flow above zero | -$5.2M | ✗ fail[5] |
| Return on assets improved | (5.7 pts) | ✗ fail[4,6,21,24] |
| Operating cash flow exceeds net income | -$4.4M | ✗ fail[4-5] |
| Long-term leverage fell | (0.0 pts) | ✓ pass[1,6,21,25-26] |
| Current ratio improved | 23.9 pts | ✓ pass[15-16,27-28] |
| No new shares issued | n/a[29-30] | |
| Gross margin improved | (6.0 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | (7.2 pts) | ✗ fail[2,6,8,21] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[5,31-34] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 57 |
| 10-Q received Aug 13, 2026 | |
| Median daily dollar volume | $248,039 |
| 63 sessions | |
| Days since newest grade input | 163 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $75.2M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $69.3M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $10.6M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$843,361 | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$5.2M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $68.0M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $17.2M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $81.1M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $17.1M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $86.5M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $16.3M | 2022-12-31 | 2024-04-08 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $83.3M | 2022-12-31 | 2024-04-08 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $15.0M | 2021-12-31 | 2023-04-14 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $103.4M | 2021-12-31 | 2023-04-14 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $43.4M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $23.0M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$49.3M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | -$176,382 | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $25.8M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $49.4M | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 21 | assets | us-gaap:Assets | $74.4M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $59.4M | 2022-12-31 | 2024-04-08 | 10-K | filing · viewer · series |
| 23 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 13,249,734 | 2026-08-10 | 2026-08-13 | 10-Q | filing · viewer · series |
| 24 | net income | us-gaap:NetIncomeLoss | $3.3M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 25 | long term debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $0 | 2025-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $26,483 | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $43.6M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $26.5M | 2024-12-31 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 13,209,669 | 2026-04-27 | 2026-04-29 | 10-K/A | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 13,209,669 | 2026-03-26 | 2026-04-07 | 10-K/A | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$425,705 | 2026-06-30 | 2026-08-13 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$424,703 | 2026-03-31 | 2026-05-15 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.1M | 2025-09-30 | 2025-11-14 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.3M | 2025-06-30 | 2026-08-13 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 88.6 is 8.6 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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