GeneDx Holdings Corp. — Earnings Quality Grade F
WGS · 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 19 days (45 → 63)
AR growth 97.6% exceeds revenue growth 40.0%
Revenue 40.0%, CFFO 216.8%. Cash follows revenue
Expense Quality
Inventory 31.0% vs COGS 16.5%. Normal
CapEx growth 246.3% is >2x revenue growth 40.0%
SG&A/Gross Profit = 80.2%, exceeds 70%
Gross margin rose +6.1pp while AR increased and AP decreased. Fraud pattern
Cash Flow Quality
CFFO/NI = -1.58. Below 1.0
FCF $0.0B, FCF/NI = -0.68
Accruals ratio = -10.4%. Low accruals
Cash $0.2B covers debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 59% of equity. Over 50%
Debt/EBITDA = 9.3x (>4x). Financial stress
Other assets 0.2% vs revenue 40.0%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 15% YoY. Normal
Manipulation Score
M-Score = -2.36 (< -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