MediWound Ltd. — Earnings Quality Grade D
MDWD · Healthcare
Significant concerns
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 35 days, change -52 days YoY
AR growth -66.2% vs revenue growth -16.1%
Revenue -16.1%, CFFO -18.3%. Cash follows revenue
Expense Quality
Inventory growth 52.0% far exceeds COGS -22.1%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth -12.2% vs revenue -16.1%. Normal
SG&A/Gross Profit = 427.9%, exceeds 70%
Gross margin swung +6.2pp (13.0% → 19.2%)
Cash Flow Quality
CFFO/NI = 0.68. Below 1.0
FCF is negative ($-0.0B)
Accruals ratio = -9.0%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 0% of equity. Manageable
Interest coverage = -66.5x (<2x). Financial stress
Other assets 0.0% vs revenue -16.1%. Normal
No write-off data
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 -67% YoY. Normal
Manipulation Score
M-Score = -3.84 (< -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