Pacira BioSciences, Inc. — Earnings Quality Grade F
PCRX · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 62 days, change +3 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 3.6%, CFFO -19.7%. Cash follows revenue
Expense Quality
Inventory growth 22.0% far exceeds COGS -12.1%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth 44.2% is >2x revenue growth 3.6%
SG&A/Gross Profit = 63.9%. Normal
Gross margin 79.4%, change +3.7pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 21.6x). Non-cash charges depressing profits
FCF $0.1B, FCF/NI = 19.43
Accruals ratio = -11.5%. Low accruals
Cash $0.2B covers 57% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 56% of equity. Over 50%
Debt/EBITDA = 3.4x. Healthy
Other assets -37.4% vs revenue 3.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -9% YoY. Normal
Manipulation Score
M-Score = -2.93 (< -2.22). Unlikely manipulator
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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