Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Beam Therapeutics Inc. (BEAM)
A forensic read on Beam Therapeutics Inc. 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
Grey Zone
Financial health
12.0
Distress distance
Watch
Earnings quality
4
Forensic signals
-33.5
P / E (ttm)
-6.5%
ROE
$2.8B
Market cap
0.00%
Dividend yield
120.0%
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). 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.
Beam Therapeutics Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 12.0, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+12.2%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +41% over the last 3 years to FY2025 (+12.2%/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 ~12.2% 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 ~29%.
67% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 67% of revenue in FY2025 — about $0.95 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 12.3% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
-$841.5M
FY2023–FY2025
Cash burn vs. reported loss.Over FY2023–FY2025, the company reported a cumulative net loss of $589.3M against operating cash flow of -$841.5M. 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.
+70.5%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +70.5% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply, and much of it is accounted for. That build tracks a +120% revenue year: net operating assets grew +109%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by 38% of net operating assets.
Key fundamentals
Latest Revenue$139.7M
Revenue Growth YoY+120.0%
Revenue CAGR (3yr)+31.9%
Net Margin-57.2%
Free Cash Flow-$360.0M
Return on Equity-6.5%
Debt / Equity0.08x
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 Beam Therapeutics Inc.'s actual 10-K/10-Q/8-K filings?