Opko Health, Inc. — Earnings Quality Grade F
OPK · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 54 days, change -6 days YoY
AR growth -23.5% vs revenue growth -14.9%
Revenue -14.9%, CFFO 2.7%. Cash follows revenue
Expense Quality
Inventory growth 15.9% far exceeds COGS -18.9%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth -50.9% vs revenue -14.9%. Normal
SG&A/Gross Profit = 108.3%, exceeds 70%
Gross margin 33.9%, change +3.3pp. Stable
Cash Flow Quality
CFFO/NI = 0.79. Below 1.0
FCF is negative ($-0.2B)
Accruals ratio = -2.4%. Low accruals
Cash $0.4B covers 93% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $1.2B = 94% of equity. Over 50%
Debt/EBITDA = -9.6x. Healthy
Other assets 5.1% vs revenue -14.9%. 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 -11% YoY. Normal
Manipulation Score
M-Score = -2.81 (< -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