Bioventus Inc. (BVS) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 24, 2026
Bioventus Inc. (BVS)
A forensic read on Bioventus 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
Safe
Financial health
2.6
Distress distance
Clean
Earnings quality
3
Forensic signals
19.9
P / E (ttm)
12.3%
ROE
$1.1B
Market cap
-0.9%
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, going concern, valuation). 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.
Bioventus Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+4.9%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +10% over the last 2 years to FY2025 (+4.9%/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 ~4.9% 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 FY2023 has been diluted ~9%.
2% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 2% of revenue and 18% of free cash flow in FY2025 — about $0.18 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 4.9% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. 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.
10.0%
FY2025
Return on invested capital.Return on invested capital is 10.0% in the latest fiscal year and rising across FY2023–FY2025 from -10%. The capital base behind it came down -22% across FY2023–FY2025, from $626M to $487M, so this is a return struck on a smaller base rather than a record of money put to work.
Key fundamentals
Latest Revenue$568.1M
Revenue Growth YoY-0.9%
Revenue CAGR (2yr)+5.3%
Net Margin4.0%
Free Cash Flow$72.1M
Return on Equity12.3%
Debt / Equity1.60x
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 Bioventus Inc.'s actual 10-K/10-Q/8-K filings?