Xeris Biopharma Holdings, Inc. — Earnings Quality Grade F
XERS · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 64 days, change -9 days YoY
AR growth 26.3% vs revenue growth 43.7%
Revenue 43.7%, CFFO 177.4%. Cash follows revenue
Expense Quality
Inventory growth 42.5% far exceeds COGS 15.6%, 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 -19.8% vs revenue 43.7%. Normal
SG&A/Gross Profit = 73.2%, exceeds 70%
Gross margin 85.4%, change +3.6pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 51.7x). Non-cash charges depressing profits
FCF $0.0B, FCF/NI = 50.42
Accruals ratio = -7.3%. Low accruals
Cash $0.1B covers only 43% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 810% of equity. Over 50%
Debt/EBITDA = 6.1x (>4x). Interest coverage = 0.9x (<2x). Financial stress
Other assets -3.5% vs revenue 43.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -9% YoY. Normal
Manipulation Score
M-Score = -2.58 (< -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