Cerus Corporation — Earnings Quality Grade C
CERS · Healthcare
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 54 days, change -7 days YoY
AR growth 2.0% vs revenue growth 14.3%
Revenue grew 14.3% but CFFO declined -57.4%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory growth 47.1% exceeds COGS 16.2%
CapEx growth 31.4% is >2x revenue growth 14.3%
SG&A/Gross Profit = 72.1%, exceeds 70%
Gross margin 54.5%, change -0.7pp. Stable
Cash Flow Quality
CFFO/NI = -0.31. Below 1.0
FCF $0.0B, FCF/NI = -0.07
Accruals ratio = -9.2%. Low accruals
Cash $0.1B covers 85% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 2% of equity. Manageable
Interest coverage = -1.0x (<2x). Financial stress
Other assets -16.3% vs revenue 14.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.89 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25