Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
Disc Medicine, Inc. (IRON)
A forensic read on Disc Medicine, 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
Clean
Earnings quality
3
Forensic signals
-37.0%
ROE
$2.9B
Market cap
Disc Medicine, Inc. earns a C (Mixed — selective) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+83.2%Accruals ratio. Net operating assets grew +83.2% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -7% of net operating assets.
-27%Return on invested capital. Return on invested capital is -27% and rising from -36% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1098.5%/yrShare-count dilution. Diluted share count changed +3295% over the last 3 years to FY2025 (+1098.5%/yr). The count is GROWING — existing holders are being diluted. That's ~1098.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~3295%.
Key fundamentals
Debt / Equity0.06x
Free Cash Flow$-181.3M
Return on Equity-28.7%
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 Disc Medicine, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about IRON'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
🔒Peer comparison + filing-change monitoring & alerts
No credit card · informational only, not investment advice · see the track record
← Browse all forensic stock analyses
Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.