Forensic Analysis · Healthcare Providers & Services · as of Nov 9, 2026
Pediatrix Medical Group, Inc. (MD)
A forensic read on Pediatrix Medical Group, 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
Grey Zone
Financial health
2.0
Distress distance
Clean
Earnings quality
2
Forensic signals
20.3%
ROE
-4.9%
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 (auditor quality, say on pay, board independence, going concern). 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.
Pediatrix Medical Group, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.0, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
10.8%
FY2025
Return on invested capital.Return on invested capital is 10.8% in the latest fiscal year, against 0.3% in FY2023, having run between -3.3% and 10.8% across FY2023–FY2025 with no direction held. After-tax operating profit was $6M in FY2023 and $160M in FY2025, with operating income at 0.4% of revenue in FY2023, -3.4% in FY2024 and 10.9% in FY2025. The capital base behind it came down -17% across FY2023–FY2025, from $1.8B to $1.5B, so this return is struck on a smaller base than it started on. FY2023's operating profit carried a $148M goodwill write-off, a $20M asset write-down and a $2M restructuring charge that alone took about 7.6 points off that year's return, so about 7.6 of the 10.5-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more. FY2024's operating profit carried a $151M goodwill write-off and a $64M restructuring charge that alone took about 10.3 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$299M
FY2023–FY2024
Goodwill impairments.Took $299M of goodwill writedowns across 2 years (FY2023 ($148M), FY2024 ($151M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$1.91B
Revenue Growth YoY-4.9%
Revenue CAGR (2yr)-2.0%
Net Margin8.6%
Free Cash Flow$252.6M
Return on Equity20.3%
Debt / Equity0.69x
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 Pediatrix Medical Group, Inc.'s actual 10-K/10-Q/8-K filings?