F
Celldex Therapeutics, Inc. — Earnings Quality Grade F
CLDX · Healthcare
Major red flags
Revenue
$2M
2025
Net Income
-$259M
2025
Gross Margin
—
Free Cash Flow
-$214M
01
Screening Summary
7
Passed
3
Watch
3
Failed
—
M-Score
管理层信号
最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02
Financial Trends
Revenue & Net Income ($B)
Margins (%)
03
18-Point Screening
01
Revenue Quality
✗
A1DSO Change
DSO surged by 440 days (36 → 476)
!
A2AR vs Revenue Growth
AR growth 187.9% exceeds revenue growth -78.0%
✓
A3Revenue vs CFFO
Revenue -78.0%, CFFO -33.7%. Cash follows revenue
02
Expense Quality
✓
B1Inventory vs COGS
No material inventory
!
B2CapEx vs Revenue
CapEx growth 41.4% is >2x revenue growth -78.0%
—
B3SG&A Ratio
Insufficient data
—
B4Gross Margin
Insufficient data
03
Cash Flow Quality
✗
C1CFFO vs Net Income
CFFO < Net Income for 3 consecutive years
!
C2Free Cash Flow
FCF is negative ($-0.2B)
✓
C3Accruals Ratio
Accruals ratio = -8.2%. Low accruals
✓
C4Cash vs Debt
Cash $0.5B covers debt $0.0B
04
Balance Sheet Health
✓
D1Goodwill + Intangibles
Goodwill+Intangibles $0.0B = 5% of equity. Manageable
✓
D2Leverage
Debt/EBITDA = -0.0x. Healthy
—
D3Soft Asset Growth
Insufficient data
—
D4Asset Impairment
No write-off data
05
Acquisition Risk
✗
E1Serial Acquirer FCF
FCF after acquisitions negative for 3 years
✓
E2Goodwill Surge
Goodwill+Intangibles change 0% YoY. Normal
06
Manipulation Score
—
F1Beneish M-Score
Insufficient data
05
Altman Z-Score
1.9
Grey Zone0 Distress1.102.605.0+ Safe
0.8297
Liquidity
-3.1116
Cumulative profit
-0.4929
Operating efficiency
9.4444
Leverage
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25