Pmgc Holdings Inc. (ELAB) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 29, 2026
Pmgc Holdings Inc. (ELAB)
A forensic read on Pmgc Holdings 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
Distress
Financial health
-6.2
Distress distance
Clean
Earnings quality
3
Forensic signals
-98.9%
ROE
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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.
Pmgc Holdings Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -6.2, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+98.2%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +98.2% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by PP&E up +81365% on the year and receivables up +4552% on the year. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 35% of net operating assets, against an accruals ratio of 98.2%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
152d DSO
FY2023→FY2025
Receivables vs revenue.Days sales outstanding moved from 1 to 152 days FY2023→FY2025 (receivables +7889% vs revenue -66%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. FY2023 and FY2025 aren't consecutive filed years here, so FY2025's opening balance can't be taken from FY2023 — both figures are measured on period-end balances rather than the beginning-plus-ending average, which keeps the two endpoints comparable to each other.
-3.2% of rev
FY2025
Stock-based comp load.Stock-based compensation ran -3.2% of revenue in FY2025 — about $-0.94 per basic share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the basic count still rose about 2049.1% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. 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.
Key fundamentals
Latest Revenue$590,084.00
Revenue CAGR (2yr)-41.3%
Net Margin-1313.0%
Free Cash Flow-$6.4M
Return on Equity-98.9%
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 Pmgc Holdings Inc.'s actual 10-K/10-Q/8-K filings?