Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
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| XMax Inc.XMAX · consumer durables | |
|---|---|
| Grade |  Cmiddle fifth of 460 graded peers; percentile 42.7, sampling error 2.3 points; lower is stronger |
| Rank | 192 of 460 |
| Profitability | Dpercentile 67.3 |
| Solvency | Bpercentile 35.8 |
| Growth and financing | B/Cpercentile 38.1 |
| 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 $35.5M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | dilution, late filernot computable: distress, fortress balance sheet |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Apr 15, 2026177 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $8.832026-10-08; market equity $569.7M; 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 Apr 15, 2026; the document on sec.gov.
Inc. (the “Company”), formerly known as Nova LifeStyle, Inc. and Stevens Resources, Inc, is a U.S.-headquartered innovative designer and distributor of contemporary styled residential and commercial furniture incorporated into a dynamic marketing and sales platform offering retail as well as online selection and global purchase fulfillment. We were incorporated in the State of Nevada on September 9, 2009. The Company’s products are marketed through wholesale and retail channels as well as various online platforms Company’s family of brands includes Nova LifeStyle, Diamond Sofa (www.diamondsofa.com) and Nova Living.
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 67.3 | |||||||
| Gross profitability | 11.8% | [1,5] | 34.4% | 84.8 | 476 | 2025-12-31 | |
| Return on invested capital | not computable | 8.9% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (13.1%) | [1,6-8] | (5.1%) | 19.1 | 525 | 2025-12-31 | |
| Gross margin stability, five years | 40.1 pts | [2,5,9-16] | 1.7 pts | 98.0 | 407 | 2025-12-31 | |
| Solvency, sleeve percentile 35.8 | |||||||
| 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 | 0.34 | [1,17-22] | 2.11 | 66.8 | 402 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 2.11x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 2.57x | |||||
| latest aligned inputs end 2018-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 4.92x | [17-18] | 1.55x | 4.8 | 541 | 2025-12-31 | |
| Growth and financing, sleeve percentile 38.1 | |||||||
| Revenue growth, three-year compound | 9.5% | [2,10,12,14] | 1.4% | 16.4 | 482 | 2025-12-31 | |
| 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 | 45.5% | [1,8,23-24] | 2.0% | 1.4 | 487 | 2025-12-31 | |
| Net share issuance, one year | 257.4% | [3-4] | (0.3%) | 96.3 | 382 | 2026-04-10 | |
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 -0.065; 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 |
|---|---|---|---|---|
| 187 | Shoe Station Group Inc. (SHOE) Shoe Station Group Inc. (SHOE) B/Con the B/C boundary; percentile 41.6 Nasdaq · Retail-Shoe Stores market equity $355.0M; last close $13.04 No active warnings; 11 of 14 inputs | 41.6 | B/C | |
| 188 | Wingstop Inc. (WING) Wingstop Inc. (WING) B/Con the B/C boundary; percentile 42.0 Nasdaq · Retail-Eating Places market equity $3.2B; last close $118.44 No active warnings; 10 of 14 inputs | 42.0 | B/C | |
| 189 | Pilgrims Pride Corp. (PPC) Pilgrims Pride Corp. (PPC) B/Con the B/C boundary; percentile 42.3 Nasdaq · Poultry Slaughtering and Processing market equity $6.8B; last close $28.48 No active warnings; 13 of 14 inputs | 42.3 | B/C | |
| 190 | Central Garden & PET Co. (CENT) Central Garden & PET Co. (CENT) B/Con the B/C boundary; percentile 42.6 Nasdaq · Wholesale-Miscellaneous Nondurable Goods last close $40.53 No active warnings; 10 of 14 inputs | 42.6 | B/C | |
| 191 | Central Garden & PET Co. (CENTA) Central Garden & PET Co. (CENTA) B/Con the B/C boundary; percentile 42.6 Nasdaq · Wholesale-Miscellaneous Nondurable Goods last close $35.00 No active warnings; 10 of 14 inputs | 42.6 | B/C | |
| 192 | XMax Inc. (XMAX) XMax Inc. (XMAX) Cmiddle fifth; percentile 42.7 Nasdaq · Household Furniture market equity $569.1M; last close $8.83 Warnings: dilution, late filer; 8 of 14 inputs | 42.7 | C | dilution, late filer |
| 193 | Boston Beer Co. Inc. (SAM) Boston Beer Co. Inc. (SAM) B/Con the B/C boundary; percentile 43.1 NYSE · Malt Beverages last close $171.15 Warnings: fortress balance sheet; 9 of 14 inputs | 43.1 | B/C | fortress balance sheet |
| 194 | H&R Block Inc. (HRB) H&R Block Inc. (HRB) Cmiddle fifth; percentile 43.2 NYSE · Services-Personal Services market equity $5.5B; last close $44.59 No active warnings; 8 of 14 inputs | 43.2 | C | |
| 195 | TJX Companies Inc. (TJX) TJX Companies Inc. (TJX) Cmiddle fifth; percentile 43.6 NYSE · Retail-Family Clothing Stores market equity $152.6B; last close $138.74 No active warnings; 8 of 14 inputs | 43.6 | C | |
| 196 | Universal Electronics Inc. (UEIC) Universal Electronics Inc. (UEIC) Cmiddle fifth; percentile 43.8 Nasdaq · Household Audio & Video Equipment market equity $70.7M; last close $5.40 No active warnings; 8 of 14 inputs | 43.8 | C | |
| 197 | Bridgford Foods Corp. (BRID) Bridgford Foods Corp. (BRID) Cmiddle fifth; percentile 43.9 Nasdaq · Sausages & Other Prepared Meat Products market equity $53.6M; last close $5.42 No active warnings; 8 of 14 inputs | 43.9 | C |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 51.7 | 2204 |
| sector peers, equal sleeves (the grade) | C | 42.7 | 460 |
| same exchange, equal sleeves | C | 55.0 | 1219 |
| sector peers, equal inputs | C | 47.9 | 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 | 62.8% | (0.2%) | 92 | hotter than 92 of 100 peers |
| Distance from 52-week high | (5.6%) | (25.6%) | 92 | closer to its high than 92 of 100 peers |
| EBIT to enterprise value | not computable | 5.0% | required accounting or market input is missing | |
| Free cash flow yield | (0.9%) | 4.6% | 20 | pricier than 80 of 100 peers |
| Book value to price | 0.19 | 0.45 | 28 | pricier than 72 of 100 peers |
| Sales to price | 0.03 | 1.49 | 1 | pricier than 99 of 100 peers |
| Composite equity issuance, five years | 406.0% | (16.0%) | 98 | more equity-funded than 98 of 100 peers |
| Relative strength against the sector, log excess return | 0.51 | (0.01) | 93 | ahead of 93 of 100 peers |
Inputs: market equity $569.1M; EBIT -$1.9M; free cash flow -$5.4M; book equity $106.3M; sales $16.7M; cash $34.6M[25].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (34.5%) | ✗ fail[6,8] |
| Operating cash flow above zero | -$445,838 | ✗ fail[7] |
| Return on assets improved | 54.7 pts | ✓ pass[6,8,23,26] |
| Operating cash flow exceeds net income | $3.0M | ✓ pass[6-7] |
| Long-term leverage fell | n/a[1,8,23] | |
| Current ratio improved | 356.3 pts | ✓ pass[17-18,27-28] |
| No new shares issued | 257.4% | ✗ fail[3-4] |
| Gross margin improved | (18.8 pts) | ✗ fail[2,5,9-10] |
| Asset turnover improved | 13.3 pts | ✓ pass[2,8,10,23] |
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 | $35.5M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $16.7M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 3 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 47,206,227 | 2026-04-10 | 2026-04-15 | 10-K | filing · viewer · series |
| 4 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 13,207,322 | 2025-03-28 | 2025-03-31 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $4.2M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | -$3.4M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$445,838 | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $9.9M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $4.2M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $9.7M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $4.2M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $11.1M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | -$7.8M | 2022-12-31 | 2024-04-15 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $12.7M | 2022-12-31 | 2024-04-15 | 10-K | filing · viewer · series |
| 15 | gross profit | us-gaap:GrossProfit | $5.5M | 2021-12-31 | 2023-04-17 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:Revenues | $12.6M | 2021-12-31 | 2023-04-17 | 10-K | filing · viewer · series |
| 17 | current assets | us-gaap:AssetsCurrent | $11.8M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 18 | current liabilities | us-gaap:LiabilitiesCurrent | $2.4M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 19 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$53.4M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 20 | operating income | us-gaap:OperatingIncomeLoss | -$1.9M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 21 | book equity | us-gaap:StockholdersEquity | $28.0M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 22 | liabilities | us-gaap:Liabilities | $7.6M | 2025-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $6.2M | 2023-12-31 | 2025-03-31 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $11.5M | 2022-12-31 | 2024-04-15 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 64,523,426 | 2026-08-12 | 2026-08-14 | 10-Q | filing · viewer · series |
| 26 | net income | us-gaap:NetIncomeLoss | -$5.6M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $7.9M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $5.8M | 2024-12-31 | 2026-04-15 | 10-K | filing · viewer · series |
| 29 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $34.6M | 2026-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$4.3M | 2026-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$641,744 | 2026-03-31 | 2026-05-15 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.1M | 2025-09-30 | 2025-11-14 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$230,104 | 2025-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 42.7 is 2.7 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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