Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 9, 2026
Alkermes PLC. (ALKS)
A forensic read on Alkermes PLC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
6.2
Distress distance
Clean
Earnings quality
2
Forensic signals
14.7%
ROE
-5.2%
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 (auditor quality, say on pay, board independence, going concern). 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.
Alkermes PLC. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 6.2, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
353d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 275 to 353 FY2024→FY2025 (against cost of goods sold; inventory +8% vs -20% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
+19.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +19.7% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 21% of net operating assets, against an accruals ratio of 19.7%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.Accruals ratio: the year-over-year change in net operating assets, relative to their own average.NOA (net operating assets): the money tied up in running the business, operating assets minus operating liabilities.
Key fundamentals
Latest Revenue$1.48B
Revenue Growth YoY-5.2%
Revenue CAGR (2yr)-5.8%
Net Margin16.4%
Free Cash Flow$480.3M
Return on Equity14.7%
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