D
Arcus Biosciences, Inc. — Earnings Quality Grade D
RCUS · Healthcare
Significant concerns
Revenue
$247M
2025
Net Income
-$353M
2025
Gross Margin
—
Free Cash Flow
-$484M
01
Screening Summary
10
Passed
2
Watch
2
Failed
—
M-Score
管理层信号
最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02
Financial Trends
Revenue & Net Income ($B)
Margins (%)
03
18-Point Screening
01
Revenue Quality
✓
A1DSO Change
DSO 16 days, change -12 days YoY
✓
A2AR vs Revenue Growth
AR growth -45.0% vs revenue growth -4.3%
✓
A3Revenue vs CFFO
Revenue -4.3%, CFFO -183.5%. Cash follows revenue
02
Expense Quality
✓
B1Inventory vs COGS
No material inventory
✓
B2CapEx vs Revenue
CapEx growth -66.7% vs revenue -4.3%. Normal
—
B3SG&A Ratio
Insufficient data
—
B4Gross Margin
Insufficient data
03
Cash Flow Quality
✓
C1CFFO vs Net Income
CFFO/NI = 1.37. Profits backed by cash
!
C2Free Cash Flow
FCF is negative ($-0.5B)
✗
C3Accruals Ratio
Accruals ratio = 11.3%. Exceeds 10%
✓
C4Cash vs Debt
Cash $1.0B covers debt $0.1B
04
Balance Sheet Health
✓
D1Goodwill + Intangibles
No goodwill. Clean balance sheet
!
D2Leverage
Interest coverage = -48.2x (<2x). Financial stress
✓
D3Soft Asset Growth
Other assets -13.7% vs revenue -4.3%. Normal
—
D4Asset Impairment
No write-off data
05
Acquisition Risk
✗
E1Serial Acquirer FCF
FCF after acquisitions negative for 3 years
✓
E2Goodwill Surge
No goodwill
06
Manipulation Score
—
F1Beneish M-Score
Insufficient data
05
Altman Z-Score
-0.51
Distress Zone0 Distress1.102.605.0+ Safe
0.6813
Liquidity
-1.3038
Cumulative profit
-0.3029
Operating efficiency
1.2421
Leverage
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25