Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 13, 2026
Aptevo Therapeutics Inc. (APVO)
A forensic read on Aptevo 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
-33.5
Distress distance
Watch
Earnings quality
4
Forensic signals
-149.4%
ROE
-74.7%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — 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.
Aptevo Therapeutics Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -33.5, placing it in the Distress 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). 4 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
73d
FY2018→FY2019
Inventory days.Days inventory outstanding moved from 46 to 73 FY2018→FY2019 (against cost of goods sold; inventory +244% vs +78% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
69d DSO
FY2018→FY2019
Receivables vs revenue.Days sales outstanding moved from 58 to 69 days FY2018→FY2019 (receivables +35% vs revenue +41%). Receivables are creeping up relative to sales. Across FY2017–FY2019 the day count ran 30 → 58 → 69 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -94% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -60.5%/yr figure isn't a real buyback/dilution read here.
58% of rev
FY2022
Stock-based comp load.Stock-based compensation ran 58% of revenue in FY2022 — about $0.35 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 8.9% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. 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$3.1M
Revenue Growth YoY-74.7%
Revenue CAGR (3yr)-54.2%
Net Margin257.8%
Return on Equity-149.4%
Debt / Equity0.12x
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 Aptevo Therapeutics Inc.'s actual 10-K/10-Q/8-K filings?