Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 24, 2026
Agios Pharmaceuticals, Inc. (AGIO)
A forensic read on Agios Pharmaceuticals, 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
Grey Zone
Financial health
13.1
Distress distance
Clean
Earnings quality
3
Forensic signals
-4.7
P / E (ttm)
-34.6%
ROE
$2.0B
Market cap
0.00%
Dividend yield
48.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Agios Pharmaceuticals, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 13.1, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+2.1%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +4% over the last 2 years to FY2025 (+2.1%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.1% 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 FY2023 has been diluted ~4%.
-$1.1B
FY2023–FY2025
Cash burn vs. reported loss.Over FY2023–FY2025, the company reported a cumulative net loss of $91.1M against operating cash flow of -$1.1B. Cash burn ran heavier than the reported loss — something outside net income (working capital, a cash item not in the P&L) is consuming cash faster than the loss alone implies.
97% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 97% of revenue in FY2025 — about $0.91 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 2.1% a year, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$54.0M
Revenue Growth YoY+48.0%
Revenue CAGR (2yr)+41.9%
Net Margin-764.0%
Free Cash Flow-$377.3M
Return on Equity-34.6%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Agios Pharmaceuticals, Inc.'s actual 10-K/10-Q/8-K filings?