Akebia Therapeutics, Inc. — Earnings Quality Grade F
AKBA · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 73 days, change -6 days YoY
AR growth 36.8% vs revenue growth 47.5%
Revenue 47.5%, CFFO 267.2%. Cash follows revenue
Expense Quality
Inventory growth -3.9% far exceeds COGS -37.5%, 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 24439.4% is >2x revenue growth 47.5%
SG&A/Gross Profit = 54.6%. Normal
Gross margin swung +22.7pp (60.6% → 83.3%)
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 $0.1B, FCF/NI = -11.21
Accruals ratio = -19.5%. Low accruals
Cash $0.2B covers debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 181% of equity. Over 50%
Interest coverage = 1.0x (<2x). Financial stress
Other assets 59.7% vs revenue 47.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.93 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25