Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 8, 2026
Globus Medical Inc (GMED)
A forensic read on Globus Medical Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
A · High-quality compounder
Forensic grade
Safe
Financial health
16.1
Distress distance
Clean
Earnings quality
4
Forensic signals
18.8
P / E (ttm)
11.8%
ROE
$11.0B
Market cap
16.7%
Revenue growth
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). 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.
Globus Medical Inc earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 16.1, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+10.1%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +34% over the last 3 years to FY2025 (+10.1%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~10.1% 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 ~25%.
+17.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +17.6% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +22% against revenue +17% and inventory up +15% against -8% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 6% of net operating assets, diverging from the balance-sheet accrual read.
10.0%
FY2025
Return on invested capital.Return on invested capital is 10.0% in the latest fiscal year and steady — around its ~10% cost of capital, so growth is roughly value-neutral.
1.7% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.7% of revenue and 8% of free cash flow in FY2025 — about $0.36 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 10.5% a year and is falling.
Key fundamentals
Latest Revenue$2.94B
Revenue Growth YoY+16.7%
Revenue CAGR (3yr)+42.2%
Net Margin18.3%
Free Cash Flow$588.8M
Return on Equity11.8%
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 Globus Medical Inc's actual 10-K/10-Q/8-K filings?