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医疗健康行业 — 财报质量筛查

共448只医疗健康股票经过18项财报排雷检查筛查

评级分布

C: 58
D: 25
F: 330
A17 — 优秀 — 几乎无异常
B18 — 良好 — 总体健康
C58 — 一般 — 存在部分异常
D25 — 较差 — 存在显著隐忧
F330 — 不及格 — 存在重大风险

医疗健康行业的财报质量特征

医疗健康行业的盈余质量分析必须考虑研发周期、专利悬崖和监管里程碑驱动的极度不均匀的经济特征。一家制药公司今天可能报告强劲的营收，同时面临将在两年内消灭40%销售额的专利到期——这是标准损益表无法揭示的风险。生物科技公司往往几乎完全通过收购实现增长，在资产负债表上堆积大量商誉和在研研发，这些资产能否产生回报尚不确定。FDA批准里程碑创造了阶跃式收入事件，扭曲了同比比较。医疗器械公司面临自身问题：激进的器械开发成本资本化和捆绑服务合同的创意收入确认。我们的筛查发现58只医疗股中有42只获得F评级，主要因为研发密集型公司自然会触发与软资产积累、现金流与报告利润背离以及营业利润率波动相关的检查。投资者应特别关注医疗公司如何核算收购的无形资产，以及经营现金流能否可持续地覆盖研发支出和股东回报。

医疗健康行业常见异常信号

  • ⚠商誉和收购无形资产超过总资产50%，表明依赖收购的增长模式存在减值风险
  • ⚠经营现金流持续落后于净利润，原因是收购资产公允价值调整带来的大额非现金收益
  • ⚠收入集中在即将专利到期的产品上，产生当年业绩中不可见的断崖风险
  • ⚠研发费用占营收比例下降——可能为短期利润率牺牲产品管线

全部448只医疗健康股票

A优秀 — 几乎无异常(17 只)

A
DCTHDelcath Systems, Inc.
A
DXCMDexCom, Inc.
A
EVMNEvommune, Inc.
A
HCSGHealthcare Services Group, Inc.
A
HRMYHarmony Biosciences Holdings, I
A
INCYIncyte Corporation
A
ISRGIntuitive Surgical, Inc.
A
LMATLeMaitre Vascular, Inc.
A
MCKMcKesson Corporation
A
MPLTMapLight Therapeutics, Inc.
A
NHCNational HealthCare Corporation
A
ORKAOruka Therapeutics, Inc.
A
OSCROscar Health, Inc.
A
SLNOSoleno Therapeutics, Inc.
A
SLSSELLAS Life Sciences Group, Inc
A
SYRESpyre Therapeutics, Inc.
A
WSTWest Pharmaceutical Services, I

B良好 — 总体健康(18 只)

B
BCRXBioCryst Pharmaceuticals, Inc.
B
CCRNCross Country Healthcare, Inc.
B
DCGODocGo Inc.
B
ELDNEledon Pharmaceuticals, Inc.
B
ELMDElectromed, Inc.
B
GRDNGuardian Pharmacy Services, Inc
B
JBIOJade Biosciences, Inc.
B
KROSKeros Therapeutics, Inc.
B
KRYSKrystal Biotech, Inc.
B
MAZEMaze Therapeutics, Inc.
B
MDXGMiMedx Group, Inc
B
MLYSMineralys Therapeutics, Inc.
B
NUTXNutex Health Inc.
B
PODDInsulet Corporation
B
REGNRegeneron Pharmaceuticals, Inc.
B
SIGASIGA Technologies Inc.
B
TCMDTactile Systems Technology, Inc
B
TRAXFirst Tracks Biotherapeutics, I

C一般 — 存在部分异常(58 只)

C
AKTSAktis Oncology, Inc.
C
ALGNAlign Technology, Inc.
C
ALKSAlkermes plc
C
ARDXArdelyx, Inc.
C
ATYRaTyr Pharma, Inc.
C
AVRAnteris Technologies Global Cor
C
BCAXBicara Therapeutics Inc.
C
BIIBBiogen Inc.
C
BIOABioAge Labs, Inc.
C
CADLCandel Therapeutics, Inc.
C
CERSCerus Corporation
C
CNCCentene Corporation
C
CORCencora, Inc.
C
CRSPCRISPR Therapeutics AG
C
CRVSCorvus Pharmaceuticals, Inc.
C
CSTLCastle Biosciences, Inc.
C
DNLIDenali Therapeutics Inc.
C
EDITEditas Medicine, Inc.
C
EWEdwards Lifesciences Corporatio
C
EYPTEyePoint, Inc.
C
FENCFennec Pharmaceuticals Inc.
C
FHTXFoghorn Therapeutics Inc.
C
GOSSGossamer Bio, Inc.
C
HSTMHealthStream, Inc.
C
IDYAIDEAYA Biosciences, Inc.
C
INNVInnovAge Holding Corp.
C
IRMDiRadimed Corporation
C
LABStandard BioTools Inc.
C
LBRXLB Pharmaceuticals Inc
C
LENZLENZ Therapeutics, Inc.
C
LFSTLifeStance Health Group, Inc.
C
LIVNLivaNova PLC
C
LNTHLantheus Holdings, Inc.
C
MDPediatrix Medical Group, Inc.
C
MMSIMerit Medical Systems, Inc.
C
NGNENeurogene Inc.
C
OMCLOmnicell, Inc.
C
OMEROmeros Corporation
C
OPRXOptimizeRx Corporation
C
PBYIPuma Biotechnology Inc
C
PGNYProgyny, Inc.
C
PHRPhreesia, Inc.
C
PRCTPROCEPT BioRobotics Corporation
C
PRTAProthena Corporation plc
C
SLPSimulations Plus, Inc.
C
SPOKSpok Holdings, Inc.
C
TBPHTheravance Biopharma, Inc.
C
TECXTectonic Therapeutic, Inc.
C
TLSITriSalus Life Sciences, Inc.
C
TRVITrevi Therapeutics, Inc.
C
TVRDTvardi Therapeutics, Inc.
C
UTMDUtah Medical Products, Inc.
C
VIRVir Biotechnology, Inc.
C
VMDViemed Healthcare, Inc.
C
VYGRVoyager Therapeutics, Inc.
C
WRBYWarby Parker Inc.
C
WVEWave Life Sciences Ltd.
C
XNCRXencor, Inc.

D较差 — 存在显著隐忧(25 只)

D
ABTAbbott Laboratories
D
ALECAlector, Inc.
D
ALMSAlumis Inc.
D
ARCTArcturus Therapeutics Holdings
D
ARVNArvinas, Inc.
D
BEAMBeam Therapeutics Inc.
D
CAPRCapricor Therapeutics, Inc.
D
CARLCarlsmed, Inc.
D
CPRXCatalyst Pharmaceuticals, Inc.
D
CVCapsoVision, Inc.
D
ELVElevance Health, Inc.
D
HUMAHumacyte, Inc.
D
KIDSOrthoPediatrics Corp.
D
MDWDMediWound Ltd.
D
MGTXMeiraGTx Holdings plc
D
OSUROraSure Technologies, Inc.
D
PRVAPrivia Health Group, Inc.
D
RCUSArcus Biosciences, Inc.
D
RMDResMed Inc.
D
SUPNSupernus Pharmaceuticals, Inc.
D
TNGXTango Therapeutics, Inc.
D
UPBUpstream Bio, Inc.
D
VCELVericel Corporation
D
VCYTVeracyte, Inc.
D
VNDAVanda Pharmaceuticals Inc.

F不及格 — 存在重大风险(330 只)

F
AARDAardvark Therapeutics, Inc.
F
ABBVAbbVie Inc.
F
ABEOAbeona Therapeutics Inc.
F
ABSIAbsci Corporation
F
ACADACADIA Pharmaceuticals Inc.
F
ACHAccendra Health, Inc.
F
ACLXArcellx, Inc.
F
ACRSAclaris Therapeutics, Inc.
F
ACTUActuate Therapeutics, Inc.
F
ADCTADC Therapeutics SA
F
ADMAADMA Biologics Inc
F
ADPTAdaptive Biotechnologies Corpor
F
ADUSAddus HomeCare Corporation
F
AGIOAgios Pharmaceuticals, Inc.
F
AGLagilon health, inc.
F
AHCOAdaptHealth Corp.
F
AIRSAirSculpt Technologies, Inc.
F
AKBAAkebia Therapeutics, Inc.
F
ALDXAldeyra Therapeutics, Inc.
F
ALHCAlignment Healthcare, Inc.
F
ALLOAllogene Therapeutics, Inc.
F
ALTAltimmune, Inc.
F
AMGNAmgen Inc.
F
AMLXAmylyx Pharmaceuticals, Inc.
F
AMNAMN Healthcare Services Inc
F
AMPHAmphastar Pharmaceuticals, Inc.
F
AMRXAmneal Pharmaceuticals, Inc.
F
ANABAnaptysBio, Inc.
F
ANGOAngioDynamics, Inc.
F
ANIKAnika Therapeutics Inc.
F
ANIPANI Pharmaceuticals, Inc.
F
ANNXAnnexon, Inc.
F
AORTArtivion, Inc.
F
APGEApogee Therapeutics, Inc.
F
AQSTAquestive Therapeutics, Inc.
F
ARAYAccuray Incorporated
F
ARDTArdent Health, Inc.
F
ARQTArcutis Biotherapeutics, Inc.
F
ARWRArrowhead Pharmaceuticals, Inc.
F
ASTHAstrana Health Inc.
F
ATECAlphatec Holdings, Inc.
F
ATRCAtriCure, Inc.
F
AUPHAurinia Pharmaceuticals Inc
F
AURAAura Biosciences, Inc.
F
AVAHAveanna Healthcare Holdings Inc
F
AVBPArriVent BioPharma, Inc.
F
AVIRAtea Pharmaceuticals, Inc.
F
AVNSAvanos Medical, Inc.
F
AVXLAnavex Life Sciences Corp.
F
AXGNAxoGen, Inc.
F
AXSMAxsome Therapeutics, Inc.
F
AZTAAzenta, Inc.
F
BAXBaxter International Inc.
F
BBIOBridgeBio Pharma, Inc.
F
BBNXBeta Bionics, Inc.
F
BDXBecton, Dickinson and Company
F
BFLYButterfly Network, Inc.
F
BHVNBiohaven Ltd.
F
BKDBrookdale Senior Living Inc.
F
BLFSBioLife Solutions, Inc.
F
BMYBristol-Myers Squibb Company
F
BNTCBenitec Biopharma Inc.
F
BSXBoston Scientific Corporation
F
BTMDBiote Corp.
F
BTSGBrightSpring Health Services, I
F
BVSBioventus Inc.
F
CAHCardinal Health, Inc.
F
CATXPerspective Therapeutics, Inc.
F
CBLLCeriBell, Inc.
F
CDNACareDx, Inc.
F
CDXSCodexis, Inc.
F
CELCCelcuity Inc.
F
CGEMCullinan Therapeutics, Inc.
F
CGONCG Oncology, Inc.
F
CHRSCoherus Oncology, Inc.
F
CIThe Cigna Group
F
CLDXCelldex Therapeutics, Inc.
F
CLOVClover Health Investments, Corp
F
CLPTClearPoint Neuro Inc.
F
CMPXCompass Therapeutics, Inc.
F
CNMDCONMED Corporation
F
COGTCogent Biosciences, Inc.
F
COLLCollegium Pharmaceutical, Inc.
F
CONConcentra Group Holdings Parent
F
COOThe Cooper Companies, Inc.
F
CRDFCardiff Oncology, Inc.
F
CRLCharles River Laboratories Inte
F
CRMDCorMedix Inc.
F
CRNXCrinetics Pharmaceuticals, Inc.
F
CTEVClaritev Corporation
F
CTKBCytek Biosciences, Inc.
F
CVRXCVRx, Inc.
F
CVSCVS Health Corporation
F
CYHCommunity Health Systems, Inc.
F
CYTKCytokinetics, Incorporated
F
DERMJourney Medical Corporation
F
DFTXDefinium Therapeutics, Inc.
F
DGXQuest Diagnostics Incorporated
F
DHDefinitive Healthcare Corp.
F
DHRDanaher Corporation
F
DMACDiaMedica Therapeutics Inc.
F
DNAGinkgo Bioworks Holdings, Inc.
F
DNTHDianthus Therapeutics, Inc.
F
DRUGBright Minds Biosciences Inc.
F
DSGNDesign Therapeutics, Inc.
F
DVADaVita Inc.
F
DYNDyne Therapeutics, Inc.
F
EBSEmergent BioSolutions Inc.
F
EHABEnhabit, Inc.
F
ELVNEnliven Therapeutics, Inc.
F
EMBCEmbecta Corp.
F
ENOVEnovis Corporation
F
ENSGThe Ensign Group, Inc.
F
ENTAEnanta Pharmaceuticals, Inc.
F
EOLSEvolus, Inc. Common Stock
F
ERASErasca, Inc.
F
ESPREsperion Therapeutics, Inc.
F
ETONEton Pharmaceuticals, Inc.
F
EVHEvolent Health, Inc
F
EWTXEdgewise Therapeutics, Inc.
F
FATEFate Therapeutics, Inc.
F
FDMT4D Molecular Therapeutics, Inc.
F
FLGTFulgent Genetics, Inc.
F
FOLDAmicus Therapeutics, Inc.
F
FTREFortrea Holdings Inc.
F
FULCFulcrum Therapeutics, Inc.
F
GEHCGE HealthCare Technologies Inc.
F
GERNGeron Corporation
F
GHGuardant Health, Inc.
F
GILDGilead Sciences, Inc.
F
GKOSGlaukos Corporation
F
GLSIGreenwich LifeSciences, Inc.
F
GLUEMonte Rosa Therapeutics, Inc.
F
GRALGRAIL, Inc.
F
GYREGyre Therapeutics, Inc.
F
HAEHaemonetics Corporation
F
HCAHCA Healthcare, Inc.
F
HCATHealth Catalyst, Inc
F
HIMSHims & Hers Health, Inc.
F
HQYHealthEquity, Inc.
F
HROWHarrow, Inc.
F
HRTXHeron Therapeutics, Inc.
F
HSICHenry Schein, Inc.
F
HTFLHeartflow, Inc.
F
HUMHumana Inc.
F
HURATuHURA Biosciences, Inc.
F
IARTIntegra LifeSciences Holdings C
F
IBRXImmunityBio, Inc.
F
ICUIICU Medical, Inc.
F
IDXXIDEXX Laboratories, Inc.
F
IKTInhibikase Therapeutics, Inc.
F
IMNMImmunome, Inc.
F
IMVTImmunovant, Inc.
F
INBXInhibrx Biosciences, Inc.
F
INDVIndivior Pharmaceuticals, Inc.
F
INGNInogen, Inc
F
INMBINmune Bio Inc.
F
INVAInnoviva, Inc.
F
IOVAIovance Biotherapeutics, Inc.
F
IQVIQVIA Holdings, Inc.
F
IRONDisc Medicine, Inc.
F
IRTCiRhythm Holdings, Inc.
F
IRWDIronwood Pharmaceuticals, Inc.
F
ITGRInteger Holdings Corporation
F
JANXJanux Therapeutics, Inc.
F
JNJJohnson & Johnson
F
JYNTThe Joint Corp.
F
KALVKalVista Pharmaceuticals, Inc.
F
KMTSKestra Medical Technologies, Lt
F
KODKodiak Sciences Inc
F
KRMDKORU Medical Systems, Inc.
F
KRROKorro Bio, Inc.
F
KURAKura Oncology, Inc.
F
KYMRKymera Therapeutics, Inc.
F
LFCRLifecore Biomedical, Inc.
F
LFMDLifeMD, Inc.
F
LGNDLigand Pharmaceuticals Incorpor
F
LHLabcorp Holdings Inc.
F
LLYEli Lilly and Company
F
LMRILumexa Imaging Holdings, Inc.
F
LNSRLENSAR, Inc.
F
LQDALiquidia Corporation
F
LRMRLarimar Therapeutics, Inc.
F
LUCDLucid Diagnostics Inc.
F
LUNGPulmonx Corporation
F
LXEOLexeo Therapeutics, Inc.
F
MASS908 Devices Inc.
F
MBXMBX Biosciences, Inc.
F
MDGLMadrigal Pharmaceuticals, Inc.
F
MDTMedtronic plc.
F
MIRMMirum Pharmaceuticals, Inc.
F
MNKDMannKind Corporation
F
MNPRMonopar Therapeutics Inc.
F
MRKMerck & Company, Inc.
F
MRNAModerna, Inc.
F
MRVIMaravai LifeSciences Holdings,
F
MTDMettler-Toledo International, I
F
MXCTMaxCyte, Inc.
F
MYGNMyriad Genetics, Inc.
F
MYOMyomo Inc.
F
NAGENiagen Bioscience, Inc.
F
NEONeoGenomics, Inc.
F
NEOGNeogen Corporation
F
NKTXNkarta, Inc.
F
NNOXNANO-X IMAGING LTD
F
NPCENeuropace, Inc.
F
NRCNational Research Corporation
F
NRIXNurix Therapeutics, Inc.
F
NTLAIntellia Therapeutics, Inc.
F
NUVBNuvation Bio Inc.
F
NUVLNuvalent, Inc.
F
NVAXNovavax, Inc.
F
NVCRNovoCure Limited
F
NVCTNuvectis Pharma, Inc.
F
OABIOmniAb, Inc.
F
OCULOcular Therapeutix, Inc.
F
OFIXOrthofix Medical Inc.
F
OLMAOlema Pharmaceuticals, Inc.
F
OMOutset Medical, Inc.
F
OMDAOmada Health, Inc.
F
OPCHOption Care Health, Inc.
F
OPKOpko Health, Inc.
F
ORGOOrganogenesis Holdings Inc.
F
ORICOric Pharmaceuticals, Inc.
F
PACBPacific Biosciences of Californ
F
PACSPACS Group, Inc.
F
PAHCPhibro Animal Health Corporatio
F
PBHPrestige Consumer Healthcare In
F
PCRXPacira BioSciences, Inc.
F
PCVXVaxcyte, Inc.
F
PDEXPro-Dex, Inc.
F
PFEPfizer, Inc.
F
PGENPrecigen, Inc.
F
PHATPhathom Pharmaceuticals, Inc.
F
PLSEPulse Biosciences, Inc
F
PLXProtalix BioTherapeutics, Inc.
F
PNTGThe Pennant Group, Inc.
F
PRAXPraxis Precision Medicines, Inc
F
PRMEPrime Medicine, Inc.
F
PSNLPersonalis, Inc.
F
PTCTPTC Therapeutics, Inc.
F
PTGXProtagonist Therapeutics, Inc.
F
PVLAPalvella Therapeutics, Inc.
F
QDELQuidelOrtho Corporation
F
QSIQuantum-Si Incorporated
F
QTRXQuanterix Corporation
F
RAPPRapport Therapeutics, Inc.
F
RCELAvita Medical, Inc.
F
RCKTRocket Pharmaceuticals, Inc.
F
RDNTRadNet, Inc.
F
REPLReplimune Group, Inc.
F
RGNXREGENXBIO Inc.
F
RIGLRigel Pharmaceuticals, Inc.
F
RLAYRelay Therapeutics, Inc.
F
RNAAtrium Therapeutics, Inc.
F
RNACCartesian Therapeutics, Inc.
F
RVTYRevvity, Inc.
F
RXRXRecursion Pharmaceuticals, Inc.
F
RXSTRxSight, Inc.
F
RYTMRhythm Pharmaceuticals, Inc.
F
RZLTRezolute, Inc.
F
SANASana Biotechnology, Inc.
F
SDGRSchrodinger, Inc.
F
SEMSelect Medical Holdings Corpora
F
SEPNSepterna, Inc.
F
SGHTSight Sciences, Inc.
F
SGRYSurgery Partners, Inc.
F
SIBNSI-BONE, Inc.
F
SIONSionna Therapeutics, Inc.
F
SLDBSolid Biosciences Inc.
F
SMTISanara MedTech Inc.
F
SNDASonida Senior Living, Inc.
F
SNDXSyndax Pharmaceuticals, Inc.
F
SNWVSANUWAVE Health, Inc.
F
SOLVSolventum Corporation
F
SPRYARS Pharmaceuticals, Inc.
F
SRRKScholar Rock Holding Corporatio
F
SRTAStrata Critical Medical, Inc.
F
STAASTAAR Surgical Company
F
STESTERIS plc (Ireland)
F
STIMNeuronetics, Inc.
F
STOKStoke Therapeutics, Inc.
F
STXSStereotaxis, Inc.
F
SVRASavara, Inc.
F
SYKStryker Corporation
F
TALKTalkspace, Inc.
F
TARAProtara Therapeutics, Inc.
F
TARSTarsus Pharmaceuticals, Inc.
F
TBRGTruBridge, Inc.
F
TDOCTeladoc Health, Inc.
F
TECHBio-Techne Corp
F
TERNTerns Pharmaceuticals, Inc.
F
TGTXTG Therapeutics, Inc.
F
TKNOAlpha Teknova, Inc.
F
TMCITreace Medical Concepts, Inc.
F
TMDXTransMedics Group, Inc.
F
TMOThermo Fisher Scientific Inc
F
TNDMTandem Diabetes Care, Inc.
F
TNXPTonix Pharmaceuticals Holding C
F
TOIThe Oncology Institute, Inc.
F
TRDAEntrada Therapeutics, Inc.
F
TSHATaysha Gene Therapies, Inc.
F
TVGNTevogen Bio Holdings Inc.
F
TVTXTravere Therapeutics, Inc.
F
TWSTTwist Bioscience Corporation
F
TXG10x Genomics, Inc.
F
TYRATyra Biosciences, Inc.
F
UFPTUFP Technologies, Inc.
F
UHSUniversal Health Services, Inc.
F
UNHUnitedHealth Group Incorporated
F
URGNUroGen Pharma Ltd.
F
USPHU.S. Physical Therapy, Inc.
F
VERAVera Therapeutics, Inc.
F
VRDNViridian Therapeutics, Inc.
F
VREXVarex Imaging Corporation
F
VRTXVertex Pharmaceuticals Incorpor
F
VSTMVerastem, Inc.
F
VTRSViatris Inc.
F
WATWaters Corporation
F
WAYWaystar Holding Corp.
F
WEAVWeave Communications, Inc.
F
WGSGeneDx Holdings Corp.
F
XENEXenon Pharmaceuticals Inc.
F
XERSXeris Biopharma Holdings, Inc.
F
XOMAXOMA Royalty Corporation
F
ZBHZimmer Biomet Holdings, Inc.
F
ZBIOZenas BioPharma, Inc.
F
ZTSZoetis Inc.
F
ZVRAZevra Therapeutics, Inc.
F
ZYMEZymeworks Inc.

了解我们的方法论

每只股票经过18项基于唐朝投资框架的系统化检查，包括Beneish M-Score和Altman Z-Score量化模型。

查看完整方法论 →

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ADXCMDexCom, Inc.AISRGIntuitive Surgical, Inc.BREGNRegeneron Pharmaceuticals, Inc.

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