NeoGenomics, Inc. — Earnings Quality Grade F
NEO · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 80 days, change -3 days YoY
AR growth 5.8% vs revenue growth 10.1%
Revenue grew 10.1% but CFFO declined -25.5%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory 6.8% vs COGS 11.5%. Normal
CapEx growth -34.2% vs revenue 10.1%. Normal
SG&A/Gross Profit = 105.5%, exceeds 70%
Gross margin 43.2%, change -0.7pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -8.3%. Low accruals
Cash $0.2B covers only 39% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.8B = 97% of equity. Over 50%
Interest coverage = -23.5x (<2x). Financial stress
Other assets grew 59.6% vs revenue 10.1%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
Goodwill+Intangibles change -6% YoY. Normal
Manipulation Score
M-Score = -2.68 (< -2.22). Unlikely manipulator
Portfolio monitoring
Monitor NEO continuously
The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25