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FUFUW

BitFuFu Inc.
CIK 0001921158 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
71.5
composite ยท 4 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท TRIGGERED68.0

Earnings quality

Beneish M-Score -1.51 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -1.509,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.095,
    "GMI": 1.059,
    "AQI": 0.232,
    "SGI": 1.031,
    "DEPI": 0.533,
    "SGAI": 1,
    "LVGI": 0.63,
    "TATA": 0.228
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": 0.2222,
  "inputs": {
    "revenue_t": 477532000,
    "revenue_t1": 463330000,
    "total_assets_t": 357580000,
    "net_income_t": -31252000,
    "cfo_t": -112929000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1921158/000121390026048533/0001213900-26-048533-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-12 ยท FY 2025-12-31 ยท TRIGGERED77.4

Restatement predictor

F-Score 2.32 โ€” misstatement risk 2.3x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 2.321,
  "probability": 0.00859,
  "components": {
    "rsst": 0.2222,
    "drec": 0.0038,
    "dinv": -0.0003,
    "soft": 0.8646,
    "dcs": 0.0276,
    "droa": -0.2303,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1921158/000121390026048533/0001213900-26-048533-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-13 ยท FY 2025-12-31 ยท ELEVATED70.0

Zombie / distress

Interest coverage -2.77x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": -2.775,
    "2024-12-31": 10.461,
    "2023-12-31": 2.994,
    "2022-12-31": 1.549
  },
  "consecutive_years_below_1": 1,
  "altman_z_double_prime": 4.128,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -23759000,
    "interest_expense_t": 8562000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1921158/000121390026048533/0001213900-26-048533-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-05 ยท FY 2024-12-31 ยท CLEAN34.7

Tax arbitrage

ETR 12.4% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2024-12-31": 0.1244,
    "2023-12-31": 0.1722
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-12-31": 0.0856,
    "2023-12-31": 0.0378
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1921158/000121390026048533/0001213900-26-048533-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}