Mirum Pharmaceuticals, Inc. — Earnings Quality Grade F
MIRM · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 86 days, change +2 days YoY
AR growth 57.5% vs revenue growth 54.7%
Revenue 54.7%, CFFO 440.7%. Cash follows revenue
Expense Quality
Inventory 11.1% vs COGS 22.8%. Normal
CapEx growth -95.5% vs revenue 54.7%. Normal
SG&A/Gross Profit = 61.0%. Normal
Gross margin rose +5.0pp while AR increased and AP decreased. Fraud pattern
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF $0.1B, FCF/NI = -2.35
Accruals ratio = -9.4%. Low accruals
Cash $0.4B covers debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 83% of equity. Over 50%
Debt/EBITDA = 18.6x (>4x). Interest coverage = -1.5x (<2x). Financial stress
Other assets grew 132.5% vs revenue 54.7%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change 4% YoY. Normal
Manipulation Score
M-Score = -2.46 (< -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