Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
ENANTA PHARMACEUTICALS INC (ENTA)
A forensic read on ENANTA 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
Distress
Financial health
-2.8
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-64.0%
ROE
$407M
Market cap
ENANTA PHARMACEUTICALS INC earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -2.8, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-34%Return on invested capital.Return on invested capital is -34% and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.2%/yrShare-count dilution.Diluted share count changed +4% over the last 3 years to FY2025 (+1.2%/yr). A reversal: the count shrank earlier (net -14.3%/yr since FY2018) but the company has SWUNG to issuing stock — recent holders are now being diluted, not rewarded. That's ~1.2% 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 ~4%.
28% of revStock-based comp load.Stock-based compensation ran 28% of revenue in FY2025 — about $870.13 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-125.4%
Free Cash Flow$-32.2M
Latest Revenue$65.3M
Return on Equity-126.5%
Revenue Growth YoY-3.4%
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 ENANTA PHARMACEUTICALS INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ENTA'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