Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jul 30, 2026
Apimeds Pharmaceuticals Us, Inc. (APUS)
A forensic read on Apimeds Pharmaceuticals Us, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Grey Zone
Financial health
12.0
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-3.9%
ROE
Financial health / Altman Z-score above is based on book value, not market value — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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). 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.
Apimeds Pharmaceuticals Us, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is 12.0, placing it in the Grey zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+37.7%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +38% over the last 1 year to FY2025 (+37.7%/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 ~37.7% 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 FY2024 has been diluted ~27%.
$-9.7M
FY2024–FY2025
Cash burn vs. reported loss.Over FY2024–FY2025, the company reported a cumulative net loss of $7.4M against operating cash flow of $-9.7M. 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.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-1.4M to FY2025 $+151.7M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
Key fundamentals
Free Cash Flow$-9.0M
Return on Equity-3.9%
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 Apimeds Pharmaceuticals Us, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about APUS'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