GRAIL, Inc. — Earnings Quality Grade F
GRAL · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 45 days, change -14 days YoY
AR growth -9.9% vs revenue growth 17.2%
Revenue 17.2%, CFFO 48.2%. Cash follows revenue
Expense Quality
Inventory -14.0% vs COGS 3.0%. Normal
CapEx growth -82.5% vs revenue 17.2%. Normal
SG&A/Gross Profit = -440.8%, excellent (<30%)
Gross margin swung +19.6pp (-62.1% → -42.5%)
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.3B)
Accruals ratio = -3.7%. Low accruals
Cash $0.9B covers debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $1.9B = 72% of equity. Over 50%
Debt/EBITDA = -0.1x. Healthy
Other assets 23.4% vs revenue 17.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -8% YoY. Normal
Manipulation Score
M-Score = -2.46 (< -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