Dianthus Therapeutics, Inc. /DE/ (DNTH) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
Dianthus Therapeutics, Inc. /DE/ (DNTH)
A forensic read on Dianthus Therapeutics, Inc. /DE/ 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
13.0
Altman Z-score
Clean
Earnings quality
5
Forensic signals
-27.3%
ROE
$5.2B
Market cap
Dianthus Therapeutics, Inc. /DE/ earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 13.0, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+29.2%Accruals ratio.Net operating assets grew +29.2% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -9% of net operating assets.
-31%Return on invested capital.Return on invested capital is -31% and rising from -39% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1439.1%/yrShare-count dilution.Diluted share count changed +4317% over the last 3 years to FY2025 (+1439.1%/yr). A reversal: the count shrank earlier (net -2.4%/yr since FY2020) but the company has SWUNG to issuing stock — recent holders are now being diluted, not rewarded. That's ~1439.1% 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 ~4317%.
9d DSOReceivables vs revenue.Days sales outstanding moved from 0 to 9 days FY2024→FY2025. Receivables are creeping up relative to sales — watch the trend.
1119% of revStock-based comp load.Stock-based compensation ran 1119% of revenue in FY2025 — about $0.59 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-7973.3%
Free Cash Flow$-129.3M
Latest Revenue$2.0M
Return on Equity-32.9%
Revenue Growth YoY-67.3%
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 Dianthus Therapeutics, Inc. /DE/:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about DNTH'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