Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
DiaMedica Therapeutics Inc. (DMAC)
A forensic read on DiaMedica 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
Safe
Financial health
7.9
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-77.1%
ROE
$353M
Market cap
DiaMedica Therapeutics Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 7.9, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-67%Return on invested capital.Return on invested capital is -67% and slipping from -40% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+25.9%/yrShare-count dilution.Diluted share count changed +78% over the last 3 years to FY2025 (+25.9%/yr). The count is GROWING — existing holders are being diluted. That's ~25.9% 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 FY2022 has been diluted ~78%.
124% of revStock-based comp load.Stock-based compensation ran 124% of revenue in FY2018 — about $0.08 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-1146.8%
Free Cash Flow$-29.1M
Latest Revenue500000.00
Return on Equity-58.4%
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 DiaMedica Therapeutics Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about DMAC'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