Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 7, 2026
Monopar Therapeutics (MNPR)
A forensic read on Monopar Therapeutics 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
16.1
Distress distance
Clean
Earnings quality
4
Forensic signals
-10.0%
ROE
$767M
Market cap
1920.1%
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.
Monopar Therapeutics earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 16.1, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+156.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +156.7% 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 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 is more mixed: reported earnings ran in line with operating cash by 4% of net operating assets, diverging from the balance-sheet accrual read.
442% of rev
FY2023
Stock-based comp load.Stock-based compensation ran 442% of revenue in FY2023 — about $0.69 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 17.6% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
OCF ($12M)
FY2025
Shareholder returns.Returned $35M to shareholders (buybacks + dividends) in FY2025, while operating cash flow itself was ($12M) — zero or negative. Capex isn't disclosed for FY2025, but free cash flow can't have been positive when operating cash flow already isn't, so the entire return is coming from debt or cash reserves, not cash the business generated.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -42% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -16.5%/yr figure isn't a real buyback/dilution read here.
Key fundamentals
Latest Revenue$429,039.00
Revenue Growth YoY+1920.1%
Revenue CAGR (3yr)+73.7%
Net Margin-1958.4%
Return on Equity-10.0%
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 Monopar Therapeutics's actual 10-K/10-Q/8-K filings?