Syndax Pharmaceuticals, Inc. — Earnings Quality Grade F
SNDX · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 80 days, change -37 days YoY
AR growth 399.8% vs revenue growth 627.8%
Revenue grew 627.8% but CFFO declined -17.5%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory growth 8849.2% exceeds COGS 743.8%
Insufficient data
SG&A/Gross Profit = 108.6%, exceeds 70%
Gross margin 96.0%, change -0.6pp. Stable
Cash Flow Quality
CFFO/NI = 1.13. Profits backed by cash
FCF is negative ($-0.3B)
Accruals ratio = 7.1%. Elevated
Cash $0.4B covers debt $0.3B
Balance Sheet Health
No goodwill. Clean balance sheet
Interest coverage = -8.1x (<2x). Financial stress
Other assets -53.0% vs revenue 627.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = 2.75 (> -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