Lexeo Therapeutics, Inc. (LXEO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
Lexeo Therapeutics, Inc. (LXEO)
A forensic read on Lexeo Therapeutics, 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
-8.4
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-47.5%
ROE
$373M
Market cap
Lexeo Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -8.4, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+76.7%Accruals ratio.Net operating assets grew +76.7% 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 in line with operating cash by -1% of net operating assets.
-46%Return on invested capital.Return on invested capital is -46% and rising from -887% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1063.5%/yrShare-count dilution.Diluted share count changed +3190% over the last 3 years to FY2025 (+1063.5%/yr). The count is GROWING — existing holders are being diluted. That's ~1063.5% 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 ~3190%.
272% of revStock-based comp load.Stock-based compensation ran 272% of revenue in FY2022 — about $1.09 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-9063.8%
Free Cash Flow$-99.0M
Latest Revenue654000.00
Return on Equity-40.5%
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 Lexeo Therapeutics, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about LXEO'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