ValueScreener company report

National Rural Utilities Cooper (NRUC)

Name: National Rural Utilities Cooper (NRUC) filed financial figures
Creator: ValueScreener

NYSE / Financial Services / Financial - Credit Services

Share price

20.24 USD Market dataClose of Oct 15, 2026

Market capitalisation

n/a Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2026, filed Jul 31, 2026
Ratios computed: Oct 15, 2026
Filed years: 16, FY2010 to FY2026

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on equity

8.0% Computed

From the FY2026 filing

Read quality

Financial strength

Debt to equity

10.18 Computed

From the FY2026 filing

Read financial strength

Valuation

Price to earnings

n/a Computed

FY2026 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read valuation

Cash generation

Dividend yield

6.8% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 0 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings for National Rural Utilities Cooper in FY2026: n/a. No diluted earnings per share is filed for this year.

Is it good

Return on equity was 8.0% in FY2026, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.

Today, against the Financial - Credit Services industry (53 companies), 8.0% sits at the 37th percentile; the middle half of that group runs from 5.5% to 21.2%.

Is it safe

Debt to equity was 10.18 in FY2026, in the band labelled "Heavily leveraged" (2.00 and above), on lines anchored on Graham's defensive-investor criteria, suggesting heavy reliance on borrowing.

Today, against the Financial Services sector (80 companies), 10.18 sits at the 100th percentile; the middle half of that group runs from 0.21 to 1.42.

Year by year against peers: Whether National Rural Utilities Cooper's return on equity stayed above the median of the Financial - Credit Services industry, year by year. (FY2021 to FY2026, 6 fiscal years of National Rural Utilities Cooper with a comparable figure)
The direction: Which way National Rural Utilities Cooper's return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of National Rural Utilities Cooper)
What could explain it: What in National Rural Utilities Cooper's filed statements could explain the movements. (2 readings drawn from the statement lines National Rural Utilities Cooper filed)
What to check next: What to check next on National Rural Utilities Cooper, and where in its filings. (3 questions for National Rural Utilities Cooper)
In one paragraph: One paragraph on National Rural Utilities Cooper's returns, cash, balance sheet and price. (3 of sixteen figures read for National Rural Utilities Cooper)

These are NRUC’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research NRUCPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Jul 31, 2026, accession 0000070502-26-000511.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

National Rural Utilities Cooper: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a No operating income line is filed for this year.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Return on equity	8.0% ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Return on capital employed, pre-tax Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Return on assets	0.7% ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Gross margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Operating margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Net margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

National Rural Utilities Cooper: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity	10.18 ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Current ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Quick ratio Why n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Interest coverage Why n/a No operating income line is filed for this year.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Altman Z-score Why n/m Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.	n/m ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Net debt	33.26B ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What National Rural Utilities Cooper owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Jul 31, 2026, 0000070502-26-000511).

National Rural Utilities Cooper: balance sheet position
Total assets	39.70B FiledFY2026 10-K, filed Jul 31, 2026
Total liabilities	36.39B FiledFY2026 10-K, filed Jul 31, 2026
Shareholders' equity	3.29B FiledFY2026 10-K, filed Jul 31, 2026
Cash	248.8M FiledFY2026 10-K, filed Jul 31, 2026
Total debt	33.51B FiledFY2026 10-K, filed Jul 31, 2026
Net debt	33.26B
Current ratio	n/a
Debt to equity	10.18

Current ratio: FY2026: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Interest cover: FY2026: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataComputed

National Rural Utilities Cooper: what the market charges, each with its source
Figure	Value, source and document
Price to earnings Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
P/E on trailing twelve months Why n/a A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.	n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Price to sales Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Enterprise value to EBIT Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Enterprise value to EBITDA Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Price to earnings over growth Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Diluted earnings per share Why n/a The FY2026 filing carries no diluted earnings per share we could read.	n/a FiledFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Graham number Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511

We publish no fair value or price target of our own. Value NRUC on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for National Rural Utilities Cooper today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

National Rural Utilities Cooper: valuation
Share price	20.24 USD
Market capitalisation	n/a
Enterprise value to EBITDA	n/a
Graham number	n/a
Diluted earnings per share	n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like National Rural Utilities Cooper

We hold no market value we can defend for NRUC, so there is no size to find companies near.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

National Rural Utilities Cooper: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Free cash flow	308.8M USD ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Free cash flow margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Dividend yield	6.8% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Payout ratio Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

National Rural Utilities Cooper: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	n/a	FY2026	Oct 15, 2026
n/a The filed income statement reports no earnings per share.
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Oct 15, 2026
n/a No share count this figure can rest on: the filed income statement reports none, or the one it reports failed its unit check.
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Oct 15, 2026
n/a The filed income statement reports no operating income.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Oct 15, 2026
n/a We hold no market capitalisation we can defend for this company, so there is nothing to price the figure against.
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itCash flow statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Jul 31, 2026
n/a No operating income line is filed for this year.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2026. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	6.8%	FY2026	Oct 15, 2026
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itCash flow statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	10.18	FY2026	Jul 31, 2026
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2026. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Jul 31, 2026
n/a Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2026. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Oct 15, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Oct 15, 2026
n/a The filed income statement reports no earnings per share.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/m	FY2026	Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Jul 31, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2026. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itCash flow statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab
	n/a	FY2026	Jul 31, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2026. Form10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itIncome statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itBalance sheetFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tabForm10-KFiledJul 31, 2026PeriodFY2026Accession0000070502-26-000511What we read from itCash flow statementFY2026Open on SEC.gov, accession 0000070502-26-000511, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 16 filed fiscal years on record, FY2010 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports National Rural Utilities Cooper filed with the SEC. Each year names its filing. Amounts in USD, as filed.

National Rural Utilities Cooper: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2026	n/a	n/a	262.1M	n/a	308.8M	n/a	8.0%	10-K, Jul 31, 20260000070502-26-000511
FY2025	n/a	n/a	139.7M	n/a	202.8M	n/a	4.5%	10-K, Aug 5, 20250000070502-25-000211
FY2024	n/a	n/a	553.3M	n/a	314.5M	n/a	18.5%	10-K, Aug 1, 20240000070502-24-000045
FY2023	n/a	n/a	501.5M	n/a	330.1M	n/a	19.6%	10-K, Aug 2, 20230000070502-23-000030
FY2022	n/a	n/a	795.8M	n/a	233.1M	n/a	37.6%	10-K, Aug 8, 20220000070502-22-000038
FY2021	n/a	1.52B	811.7M	n/a	230.1M	n/a	59.0%	10-K, Jul 30, 20210000070502-21-000062
FY2020	n/a	230.5M	-585.2M	n/a	209.7M	n/a	-93.5%	10-K, Aug 5, 20200000070502-20-000037
FY2019	n/a	685.2M	-149.2M	n/a	182.3M	n/a	-11.7%	10-K, Jul 31, 20190000070502-19-000026
FY2018	n/a	1.25B	455.2M	n/a	140.0M	n/a	30.9%	10-K, Jul 31, 20180000070502-18-000044
FY2017	n/a	1.06B	309.9M	n/a	161.8M	n/a	29.0%	10-K, Aug 1, 20170000070502-17-000238

Revenue: Fewer than two filed years carry revenue.
Earnings, compound annual growth FY2017 to FY2026: -1.8%
Earnings per share: Fewer than two filed years carry earnings per share.
Free cash flow, compound annual growth FY2017 to FY2026: 7.4%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

National Rural Utilities Cooper: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Piotroski F-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2026 10-K, filed Jul 31, 2026, 0000070502-26-000511
Named tests met	0 of 30 Computed
Beta	0.27 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 11 not met, 19 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: None of the named tests.
Does not: Defensive investor (Benjamin Graham); Low PEG, low debt (Peter Lynch); High returns and growth; High yield, low payout; Low beta, profitable; Z-score and coverage (Edward Altman); High returns, low debt; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC
Not measured: Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Dividends and buybacks; ROIC at or above WACC; Near the 52-week low; Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(27)

Current Ratio: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
P/B Ratio: We do not hold this figure for this company, so there is nothing to show.
Piotroski F-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Market Cap: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
P/E Ratio: We do not hold this figure for this company, so there is nothing to show.
EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
Return on Invested Capital: No operating income line is filed for this year.
Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
Beneish M-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Rev Growth 5Y: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Gross Margin: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Asset Turnover: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
Interest Coverage: No operating income line is filed for this year.
Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
Price To Ncav: Our archived statements for this filer carry no current assets line, so we cannot compute this from source and show you where it came from.
Price To Graham: We do not hold this figure for this company, so there is nothing to show.
Owner Earnings Yield: We do not hold this figure for this company, so there is nothing to show.
P/S Ratio: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

27 figures could not be read on this company, among them Current Ratio, Positive Earnings Streak, P/B Ratio. Each blank in the table above names the rest, with its reason. 19 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolio How this is computed

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, as filed

The reading, in brief

Financial health

Valuation

Companies like National Rural Utilities Cooper

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes