Septerna, Inc. — Earnings Quality Grade F
SEPN · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 24 days (58 → 82)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR growth 5956.1% vs revenue growth 4174.5%
Revenue grew 4174.5% but CFFO only 263.3%
Expense Quality
No material inventory
CapEx growth -75.4% vs revenue 4174.5%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.1B, FCF/NI = -2.24
Accruals ratio = -26.7%. Low accruals
Cash $0.4B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = -0.3x. Healthy
Other assets 46.8% vs revenue 4174.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
No goodwill
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25