Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
ANGIODYNAMICS INC (ANGO)
A forensic read on ANGIODYNAMICS 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
-1.8
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-17.6%
ROE
$554M
Market cap
ANGIODYNAMICS INC earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -1.8, 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
-21%Return on invested capital.Return on invested capital is -21% and slipping from -5% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.6%/yrShare-count dilution.Diluted share count changed +5% over the last 3 years to FY2025 (+1.6%/yr). The count is GROWING — existing holders are being diluted. That's ~1.6% 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 ~5%.
168dInventory days.Days inventory outstanding moved from 148 to 168 FY2024→FY2025 (against cost of goods sold; inventory +2% vs -10% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
$333MGoodwill impairments.Took $333M of goodwill writedowns across 3 year(s) (FY2020 ($159M), FY2023 ($15M), FY2024 ($159M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-11.6%
Debt / Equity0.00x
Free Cash Flow$-14.6M
Latest Revenue$292.5M
Return on Equity-18.6%
Revenue Growth YoY-3.8%
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 ANGIODYNAMICS INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ANGO'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