Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
Aclaris Therapeutics, Inc. (ACRS)
A forensic read on Aclaris Therapeutics, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-18.2
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-55.9%
ROE
$698M
Market cap
Aclaris Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -18.2, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-54%Return on invested capital.Return on invested capital is -54% and slipping from -38% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+29.3%/yrShare-count dilution.Diluted share count changed +88% over the last 3 years to FY2025 (+29.3%/yr). The count is GROWING — existing holders are being diluted. That's ~29.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~88%.
158% of revStock-based comp load.Stock-based compensation ran 158% of revenue in FY2025 — about $0.10 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$19MGoodwill impairments.Took $19M of goodwill writedowns across 1 year(s) (FY2019 ($19M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-829.6%
Debt / Equity0.10x
Free Cash Flow$-47.2M
Latest Revenue$7.8M
Return on Equity-63.0%
Revenue Growth YoY-58.2%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Aclaris Therapeutics, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ACRS's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown