Maase Inc. (Class A) (MAAS) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

Per the Roarable RQD rating, MAAS scores 49 out of 100, earning a D grade and the verdict "Roarable Sell — Underperform / Distribution Warning." Across the five pillars, the fundamental cash engine scores 13/20 (ROIC 0%; FCF yield 0.17%), whale/13F flow scores 6/20 (institutional accumulation and options positioning), insider conviction scores 7/20 (SEC Form 4 and Congressional PTR cluster flow), macro regime fit scores 12/20 (Beta 1.0; sector sensitivity), and forensic balance sheet scores 11/20 (Altman Z 2.5; Piotroski F 4/9; Debt/Equity 0.5). For a prospective investor, the weakest pillars are institutional and insider flow, while the cash engine and balance sheet carry the most support. The rating's own framing points to distribution risk rather than accumulation, and a prospective investor would need to weigh the near-zero ROIC and thin FCF yield against the company's current $5.41B market capitalization.

Maase Inc. (Class A) is a NASDAQ-listed issuer classified under the Financials sector and the Investment Managers industry, per the company profile. The source data does not describe its products, customers, or revenue model. Per the SEC financials, the company reported revenue across three fiscal periods, but the source does not break revenue down by product or customer. Per the recent news wire, the company appointed Baoxue Xu as Co-Chief Technology Officer to lead energy technology development, which is the only business activity described in the sources.

Per the market data, gross margin is 0%, operating margin is -60%, and net margin is -25.1%, with ROIC at 0%. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. Reported revenue declined from $163.1M in FY 2024 to $109.1M in FY 2025, while operating losses widened from $-63.4M to $-96.5M over the same span. Free cash flow was positive in FY 2025 and FY 2024 but negative in FY 2023.

The recent news wire contains six items, all tagged with a YELLOW signal and a MARKET WIRE impact label. The headlines cover a TradingView estimates report, a Seeking Alpha piece titled that the math and valuation do not add up, Yahoo Finance and The Globe and Mail reports on the Co-CTO appointment, a Stock Titan report on a 12,500-share stock grant scheduled to vest over five years, and a TradingView listing for NIQ. The Seeking Alpha headline is the most directly negative framing in the wire. The Co-CTO and stock grant items are the most concrete corporate events described. The Butterfly supply-chain graph reports no supply-chain links and no proprietary signals.

Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, with no butterfly links and no proprietary signals. The source data therefore does not identify upstream suppliers, downstream customers, or sector correlations beyond the company's classification as a Financials Investment Manager. A prospective investor should note that the absence of mapped links means second-order effects cannot be assessed from the provided sources.

• What is the company's actual business model, and what products or services generate its reported revenue?
• Why did reported revenue decline by roughly one-third between FY 2024 and FY 2025 while operating losses widened?
• What are the cash and debt balances underlying the reported Debt/Equity of 0.5 and the Altman Z-Score of 2.5?
• What specific 13F, Form 4, and Congressional transactions drive the whale and insider pillar scores?
• Why do the reported 52-week range and current price of $12.23 differ so widely between the low of $3.51 and the high of $24.9?