Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jul 16, 2026
Modular Medical, Inc. (MODD)
A forensic read on Modular Medical, 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
-27.6
Altman Z-score
Watch
Earnings quality
3
Forensic signals
Modular Medical, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -27.6, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+40.7%Accruals ratio.Net operating assets grew +40.7% relative to their average in FY2026 — 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 is more mixed: reported earnings ran behind operating cash by 90% of net operating assets, diverging from the balance-sheet accrual read.
-362%Return on invested capital.Return on invested capital is -362% in the latest fiscal year and rising from -444% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
1093% of revStock-based comp load.Stock-based compensation ran 1093% of revenue in FY2022 — about $0.59 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-5050.6%
Free Cash Flow$-27.7M
Latest Revenue$368,920.00
Return on Equity-217.9%
Revenue CAGR (3yr)+110.8%
Revenue Growth YoY+283684.6%
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 Modular Medical, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about MODD'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