Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Sonos Inc.SONO · consumer durables | |
|---|---|
| Grade |  Cmiddle fifth of 460 graded peers; percentile 46.0, sampling error 2.3 points; lower is stronger |
| Rank | 208 of 460 |
| Profitability | A/Bpercentile 21.0 |
| Solvency | Cpercentile 56.6 |
| Growth and financing | Dpercentile 66.6 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $823.3M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active · fortress balance sheetnot computable: distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Nov 14, 2025329 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $16.952026-10-08; market equity $2.0B; 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 Nov 14, 2025; the document on sec.gov.
Sonos is a leading audio company dedicated to elevating life through sound. Since pioneering multi-room wireless audio in 2005, Sonos has built a system that unites every dimension of sound - music, movies, stories and conversations - into one connected platform. The portfolio includes home theater speakers, components, plug-in and portable speakers, and headphones that compound in value with every room and device its customers add. Known for exceptional sound, thoughtful design, ease of use and seamless access to the world’s audio content, Sonos is trusted by more than 17 million households in 60+ countries around the world.
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 21.0 | |||||||
| Gross profitability | 76.6% | [1,5] | 34.4% | 9.3 | 476 | 2025-09-27 | |
| Return on invested capital | not computable | 8.9% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Accruals ratio | (22.8%) | [1,6-8] | (5.1%) | 9.9 | 525 | 2025-09-27 | |
| Gross margin stability, five years | 1.4 pts | [2,5,9-16] | 1.7 pts | 43.8 | 407 | 2025-09-27 | |
| Solvency, sleeve percentile 56.6 | |||||||
| 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 | 1.15 | [1,17-22] | 2.11 | 58.9 | 402 | 2025-09-27 | |
| Net debt to EBITDA | not computable | 2.11x | |||||
| latest aligned inputs end 2020-10-03; latest annual assets end 2025-09-27 | |||||||
| Interest coverage | not computable | 2.57x | |||||
| latest aligned inputs end 2023-09-30; latest annual assets end 2025-09-27 | |||||||
| Current ratio | 1.43x | [17-18] | 1.55x | 54.3 | 541 | 2025-09-27 | |
| Growth and financing, sleeve percentile 66.6 | |||||||
| Revenue growth, three-year compound | (6.3%) | [2,10,12,14] | 1.4% | 79.4 | 482 | 2025-09-27 | |
| Free cash flow growth, three-year compound | not computable | 8.3% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 12.0% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (11.5%) | [1,8,23-24] | 2.0% | 86.2 | 487 | 2025-09-27 | |
| Net share issuance, one year | (1.3%) | [25-26] | (0.3%) | 34.1 | 382 | 2025-10-27 | |
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.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.043; sampling error 2.3 percentile points on 460 peers.
Among 460 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 |
|---|---|---|---|---|
| 203 | Herbalife Ltd. (HLF) Herbalife Ltd. (HLF) Cmiddle fifth; percentile 45.1 NYSE · Wholesale-Drugs, Proprietaries & Druggists' Sundries market equity $1.3B; last close $12.83 No active warnings; 13 of 14 inputs | 45.1 | C | |
| 204 | Hooker Furnishings Corp. (HOFT) Hooker Furnishings Corp. (HOFT) Cmiddle fifth; percentile 45.3 Nasdaq · Household Furniture market equity $135.4M; last close $12.72 No active warnings; 7 of 14 inputs | 45.3 | C | |
| 205 | Sonic Automotive Inc. (SAH) Sonic Automotive Inc. (SAH) Cmiddle fifth; percentile 45.5 NYSE · Retail-Auto Dealers & Gasoline Stations last close $61.40 No active warnings; 7 of 14 inputs | 45.5 | C | |
| 206 | Post Holdings, Inc. (POST) Post Holdings, Inc. (POST) Cmiddle fifth; percentile 45.5 NYSE · Grain Mill Products market equity $3.3B; last close $74.19 No active warnings; 13 of 14 inputs | 45.5 | C | |
| 207 | Honest Company, Inc. (HNST) Honest Company, Inc. (HNST) Cmiddle fifth; percentile 45.9 Nasdaq · Retail-Catalog & Mail-Order Houses market equity $533.2M; last close $4.97 No active warnings; 8 of 14 inputs | 45.9 | C | |
| 208 | Sonos Inc. (SONO) Sonos Inc. (SONO) Cmiddle fifth; percentile 46.0 Nasdaq · Household Audio & Video Equipment market equity $2.0B; last close $16.95 Warnings: fortress balance sheet; 8 of 14 inputs | 46.0 | C | fortress balance sheet |
| 209 | First Watch Restaurant Group, Inc. (FWRG) First Watch Restaurant Group, Inc. (FWRG) Cmiddle fifth; percentile 46.3 Nasdaq · Retail-Eating Places market equity $676.4M; last close $10.96 No active warnings; 7 of 14 inputs | 46.3 | C | |
| 210 | Philip Morris International Inc. (PM) Philip Morris International Inc. (PM) Cmiddle fifth; percentile 46.3 NYSE · Cigarettes market equity $312.5B; last close $200.51 No active warnings; 12 of 14 inputs | 46.3 | C | |
| 211 | Starbucks Corp. (SBUX) Starbucks Corp. (SBUX) Cmiddle fifth; percentile 46.7 Nasdaq · Retail-Eating & Drinking Places market equity $106.3B; last close $93.21 No active warnings; 9 of 14 inputs | 46.7 | C | |
| 212 | Universal Corp. (UVV) Universal Corp. (UVV) Cmiddle fifth; percentile 47.1 NYSE · Wholesale-Farm Product Raw Materials market equity $1.1B; last close $43.08 Warnings: late filer; 10 of 14 inputs | 47.1 | C | late filer |
| 213 | Hormel Foods Corp. (HRL) Hormel Foods Corp. (HRL) Cmiddle fifth; percentile 47.2 NYSE · Meat Packing Plants last close $19.41 No active warnings; 10 of 14 inputs | 47.2 | C |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 38.4 | 2204 |
| sector peers, equal sleeves (the grade) | C | 46.0 | 460 |
| same exchange, equal sleeves | B | 33.2 | 1219 |
| sector peers, equal inputs | C | 43.8 | 460 |
Each letter is one fifth of the 460 graded peers, about 92 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 | (1.3%) | (0.2%) | 48 | hotter than 48 of 100 peers |
| Distance from 52-week high | (11.5%) | (25.6%) | 80 | closer to its high than 80 of 100 peers |
| EBIT to enterprise value | (2.8%) | 5.0% | 21 | pricier than 79 of 100 peers |
| Free cash flow yield | 5.4% | 4.6% | 55 | pricier than 45 of 100 peers |
| Book value to price | 0.20 | 0.45 | 29 | pricier than 71 of 100 peers |
| Sales to price | 0.72 | 1.49 | 28 | pricier than 72 of 100 peers |
| Composite equity issuance, five years | 4.7% | (16.0%) | 82 | more equity-funded than 82 of 100 peers |
| Relative strength against the sector, log excess return | 0.01 | (0.01) | 52 | ahead of 52 of 100 peers |
Inputs: market equity $2.0B; EBIT -$50.5M; free cash flow $108.2M; book equity $403.5M; sales $1.4B; debt $24.9M; cash $206.9M[27].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-09-27 | ||
|---|---|---|
| Return on assets above zero | (6.7%) | ✗ fail[6,8] |
| Operating cash flow above zero | $136.9M | ✓ pass[7] |
| Return on assets improved | (2.9 pts) | ✗ fail[6,8,23,28] |
| Operating cash flow exceeds net income | $198.0M | ✓ pass[6-7] |
| Long-term leverage fell | n/a[1,8,23] | |
| Current ratio improved | (7.5 pts) | ✗ fail[17-18,29-30] |
| No new shares issued | (1.3%) | ✓ pass[25-26] |
| Gross margin improved | (1.7 pts) | ✗ fail[2,5,9-10] |
| Asset turnover improved | 6.0 pts | ✓ pass[2,8,10,23] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $206.9M[31] |
| Operating cash flow, four quarters | $147.1M[7,31-35] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 72 |
| 10-Q received Jul 29, 2026 | |
| Median daily dollar volume | $27.5M |
| 63 sessions | |
| Days since newest grade input | 329 |
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 | $823.3M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.4B | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $407.1M | 2020-10-03 | 2021-11-22 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $24.9M | 2020-10-03 | 2021-11-22 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $630.5M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | -$61.1M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $136.9M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $916.3M | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $689.4M | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.5B | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $716.5M | 2023-09-30 | 2025-11-14 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2023-09-30 | 2025-11-14 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $796.4M | 2022-10-01 | 2024-11-15 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.8B | 2022-10-01 | 2024-11-15 | 10-K | filing · viewer · series |
| 15 | gross profit | us-gaap:GrossProfit | $810.0M | 2021-10-02 | 2023-11-20 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2021-10-02 | 2023-11-20 | 10-K | filing · viewer · series |
| 17 | current assets | us-gaap:AssetsCurrent | $504.0M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 18 | current liabilities | us-gaap:LiabilitiesCurrent | $352.4M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 19 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$112.1M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 20 | operating income | us-gaap:OperatingIncomeLoss | -$50.5M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 21 | book equity | us-gaap:StockholdersEquity | $355.2M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 22 | liabilities | us-gaap:Liabilities | $468.1M | 2025-09-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $1.0B | 2023-09-30 | 2024-11-15 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $1.2B | 2022-10-01 | 2023-11-20 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 120,240,651 | 2025-10-27 | 2025-11-14 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 121,763,776 | 2024-10-26 | 2024-11-15 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 118,293,979 | 2026-07-20 | 2026-07-29 | 10-Q | filing · viewer · series |
| 28 | net income | us-gaap:NetIncomeLoss | -$38.1M | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 29 | current assets | us-gaap:AssetsCurrent | $551.1M | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 30 | current liabilities | us-gaap:LiabilitiesCurrent | $366.2M | 2024-09-28 | 2025-11-14 | 10-K | filing · viewer · series |
| 31 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $206.9M | 2026-06-27 | 2026-07-29 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $144.2M | 2026-06-27 | 2026-07-29 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $97.9M | 2026-03-28 | 2026-05-05 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $163.3M | 2025-12-27 | 2026-02-04 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $133.9M | 2025-06-28 | 2026-07-29 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 46.0 is 6.0 points from the nearest band edge; sampling error is 2.3 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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