Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Kulr Technology Group, Inc.KULR · business equipment
GradeNonecomputable_factors_below_threshold: 6 of 14 inputs computable; 7 are required
Reliability0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025
Peer failure rate1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$120M to $591M assetstotal assets $129.0M[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningsdilution, short runway, late filer, thin datanot computable: distress, fortress balance sheet
Inputs computable6 of 14
Graded fromfilings received through Mar 31, 2026192 days before the rescan; every figure keyed to the SEC receipt date
Last close$2.472026-10-08; market equity $114.3M; iex feed
Price used in gradeNone
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
$2$4NovDecJanFebMarAprMayJunJulAugSepOctB$2.46
ABCDE20132014201520162017201820192020202120222023202420252026

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

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Apr 21, 2018nonen/aQ1
Apr 21, 2022A14.5Q2
Apr 21, 2023D/E80.9Q2
Jun 21, 2023E83.0Q2
Oct 21, 2023D/E82.5Q2
Nov 21, 2023E83.6Q2
Apr 21, 2024E89.4Q1
Apr 21, 2025B33.2Q2
Apr 21, 2026nonen/aQ3

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.

Overview KULR designs and builds advanced battery systems for autonomous platforms, digital infrastructure, e-mobility and Space – sold as a product or delivered as service subscription. The Company addresses two primary constraints in electrification: thermal management and safety. As energy and power density increase across aerospace, autonomous machines, digital infrastructure and industrial applications, managing heat generation, current density, and propagation risk becomes essential to system reliability and survivability. KULR is establishing a fully integrated battery energy storage system design and production infrastructure in Houston, Texas.

Warnings [top]

Dilution. split-adjusted year-over-year share growth is 30.1%[3-4]
Short runway. cash runway is 3.7 months[5]
Late filer. found 1 NT 10-K/Q filings in the last eight quarters
Thin data. 6 of 14 grade factors are computable; minimum is 7

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.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 93.6
Gross profitability0.6%[1,6]28.5%92.85582025-12-31
Return on invested capitalnot computable10.9%
one or more required annual facts are missing
Accruals rationot computable(7.4%)
prior assets observation is 7 days earlier
Gross margin stability, five years19.7 pts[2,6-14]2.4 pts94.44292025-12-31
Solvency, sleeve percentile 13.7
Twelve-month failure probabilitynot computable0.05%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime12.42[1,15-20]2.184.85662025-12-31
Net debt to EBITDAnot computable1.11x
one or more required annual facts are missing
Interest coveragenot computable3.77x
latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31
Current ratio4.07x[15-16]2.02x22.76662025-12-31
Growth and financing, sleeve percentile 46.9
Revenue growth, three-year compound59.4%[2,8,10,12]6.4%4.75382025-12-31
Free cash flow growth, three-year compoundnot computable17.2%
current FCF must be positive and base FCF must exceed $100,000
Reinvestment ratenot computable14.3%
NOPAT must exceed $100,000
Asset growth, three yearsnot computable5.0%
four consecutive annual observations are required
Net share issuance, one year30.1%[3-4]0.5%89.24072026-03-27

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.

Among 497 Peers [top]

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.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month(39.4%)2.2%18hotter than 18 of 100 peers
Distance from 52-week high(53.6%)(30.0%)22closer to its high than 22 of 100 peers
EBIT to enterprise valuenot computable1.5%required accounting or market input is missing
Free cash flow yield(42.0%)2.7%8pricier than 92 of 100 peers
Book value to price0.640.2380pricier than 20 of 100 peers
Sales to price0.140.3029pricier than 71 of 100 peers
Composite equity issuance, five yearsnot computable3.9%five-year total-return history is required
Relative strength against the sector, log excess return(0.78)(0.26)18ahead of 18 of 100 peers

Inputs: market equity $113.8M; EBIT -$43.0M; free cash flow -$47.9M; book equity $72.6M; sales $16.2M; cash $12.8M[21].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zeron/a
Operating cash flow above zero-$44.9M✗ fail[22]
Return on assets improvedn/a[23]
Operating cash flow exceeds net income$17.0M✓ pass[22-23]
Long-term leverage felln/a[1]
Current ratio improvedn/a[15-16]
No new shares issued30.1%✗ fail[3-4]
Gross margin improvedn/a[2,6]
Asset turnover improvedn/a[2]
Cash, filings, liquidity
Cash and equivalents$12.8M[5]
Operating cash flow, four quarters-$41.1M[5,22,24-27]
Months of runway3.7
Late filings, two years1
NT 10-K or NT 10-Q
Days since last periodic filing57
10-Q received Aug 13, 2026
Median daily dollar volume$2.0M
63 sessions
Days since newest grade input192

Downloads [top]

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.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$129.0M2025-12-312026-03-3110-Kfiling · viewer · series
2revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$16.2M2025-12-312026-03-3110-Kfiling · viewer · series
3shares outstandingdei:EntityCommonStockSharesOutstanding46,239,0342026-03-272026-03-3110-Kfiling · viewer · series
4shares outstandingdei:EntityCommonStockSharesOutstanding284,389,6372025-03-272025-03-3110-Kfiling · viewer · series
5cashus-gaap:CashAndCashEquivalentsAtCarryingValue$12.8M2026-06-302026-08-1310-Qfiling · viewer · series
6gross profitus-gaap:GrossProfit$770,9722025-12-312026-03-3110-Kfiling · viewer · series
7gross profitus-gaap:GrossProfit$5.5M2024-12-312026-03-3110-Kfiling · viewer · series
8revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$10.7M2024-12-312026-03-3110-Kfiling · viewer · series
9gross profitus-gaap:GrossProfit$3.7M2023-12-312025-03-3110-Kfiling · viewer · series
10revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$9.8M2023-12-312025-03-3110-Kfiling · viewer · series
11gross profitus-gaap:GrossProfit$2.4M2022-12-312024-04-1210-Kfiling · viewer · series
12revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$4.0M2022-12-312024-04-1210-Kfiling · viewer · series
13gross profitus-gaap:GrossProfit$1.3M2021-12-312023-03-2810-Kfiling · viewer · series
14revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$2.4M2021-12-312023-03-2810-Kfiling · viewer · series
15current assetsus-gaap:AssetsCurrent$25.6M2025-12-312026-03-3110-Kfiling · viewer · series
16current liabilitiesus-gaap:LiabilitiesCurrent$6.3M2025-12-312026-03-3110-Kfiling · viewer · series
17retained earningsus-gaap:RetainedEarningsAccumulatedDeficit-$145.7M2025-12-312026-03-3110-Kfiling · viewer · series
18operating incomeus-gaap:OperatingIncomeLoss-$43.0M2025-12-312026-03-3110-Kfiling · viewer · series
19book equityus-gaap:StockholdersEquity$121.6M2025-12-312026-03-3110-Kfiling · viewer · series
20liabilitiesus-gaap:Liabilities$7.4M2025-12-312026-03-3110-Kfiling · viewer · series
21shares outstandingdei:EntityCommonStockSharesOutstanding46,280,3222026-08-112026-08-1310-Qfiling · viewer · series
22operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$44.9M2025-12-312026-03-3110-Kfiling · viewer · series
23net incomeus-gaap:NetIncomeLoss-$61.9M2025-12-312026-03-3110-Kfiling · viewer · series
24operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$17.7M2026-06-302026-08-1310-Qfiling · viewer · series
25operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$8.7M2026-03-312026-05-1410-Qfiling · viewer · series
26operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$31.0M2025-09-302025-11-1810-Qfiling · viewer · series
27operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$21.5M2025-06-302026-08-1310-Qfiling · viewer · series

Limitations [top]

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.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026