Catalyst Pharmaceuticals, Inc. — Earnings Quality Grade D
CPRX · Healthcare
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 30 days (49 → 78)
AR growth 93.2% exceeds revenue growth 19.8%
Revenue grew 19.8% but CFFO declined -13.0%
Expense Quality
Inventory growth 90.2% exceeds COGS 26.7%
CapEx growth -89.6% vs revenue 19.8%. Normal
SG&A/Gross Profit = 38.6%. Normal
Gross margin 85.2%, change -0.8pp. Stable
Cash Flow Quality
CFFO/NI = 0.97. Profits backed by cash
FCF $0.2B, FCF/NI = 0.97
Accruals ratio = 0.5%. Low accruals
Cash $0.7B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 14% of equity. Manageable
Debt/EBITDA = 0.0x. Healthy
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -16% YoY. Normal
Manipulation Score
M-Score = -1.79 (grey zone)
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25