Xencor, Inc. — Earnings Quality Grade C
XNCR · Healthcare
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 85 days, change -116 days YoY
AR growth -51.8% vs revenue growth 13.7%
Revenue 13.7%, CFFO 33.2%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -66.9% vs revenue 13.7%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = 1.47. Profits backed by cash
FCF is negative ($-0.1B)
Accruals ratio = 4.9%. Low accruals
Cash $0.5B covers debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Interest coverage = -5.6x (<2x). Financial stress
Other assets -11.1% vs revenue 13.7%. Normal
Write-offs normal
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 -55% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25