Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
Crinetics Pharmaceuticals, Inc. (CRNX)
A forensic read on Crinetics Pharmaceuticals, 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
Safe
Financial health
6.2
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-44.0%
ROE
$3.9B
Market cap
Crinetics Pharmaceuticals, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 6.2, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-43%Return on invested capital.Return on invested capital is -43% and rising from -45% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+27.0%/yrShare-count dilution.Diluted share count changed +81% over the last 3 years to FY2025 (+27.0%/yr). The count is GROWING — existing holders are being diluted. That's ~27.0% 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 ~81%.
28d DSOReceivables vs revenue.Days sales outstanding moved from 0 to 28 days FY2024→FY2025. Receivables are creeping up relative to sales — watch the trend.
1183% of revStock-based comp load.Stock-based compensation ran 1183% of revenue in FY2025 — about $0.97 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-6046.2%
Free Cash Flow$-383.7M
Latest Revenue$7.7M
Return on Equity-46.9%
Revenue Growth YoY+640.7%
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 Crinetics Pharmaceuticals, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about CRNX'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