Niagen Bioscience, Inc. — Earnings Quality Grade F
NAGE · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 27 days, change -1 days YoY
AR growth 25.4% vs revenue growth 29.9%
Revenue 29.9%, CFFO 11.5%. Cash follows revenue
Expense Quality
Inventory growth 122.2% far exceeds COGS 21.6%, 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 79.1% is >2x revenue growth 29.9%
SG&A/Gross Profit = 75.2%, exceeds 70%
Gross margin 64.3%, change +2.4pp. Stable
Cash Flow Quality
CFFO/NI = 0.78. Below 1.0
FCF $0.0B, FCF/NI = 0.76
Accruals ratio = 3.6%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 7% of equity. Manageable
Debt/EBITDA = 0.2x. Healthy
Other assets 15.5% vs revenue 29.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 1477% YoY
Manipulation Score
M-Score = -0.23 (> -1.78). LIKELY MANIPULATOR
Small-cap context: Beneish M-Score was calibrated on large-caps; small-cap DSO/inventory volatility mechanically inflates it.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25