Forensic Analysis · General / Diversified · as of Jun 27, 2026
NEOGENOMICS INC (NEO)
A forensic read on NEOGENOMICS 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
Grey Zone
Financial health
1.5
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-11.8%
ROE
$1.8B
Market cap
NEOGENOMICS INC earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 1.5, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-8%Return on invested capital.Return on invested capital is -8% and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.0%/yrShare-count dilution.Diluted share count changed +3% over the last 3 years to FY2025 (+1.0%/yr). The count is GROWING — existing holders are being diluted. That's ~1.0% 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 ~3%.
$4MGoodwill impairments.Took $4M of goodwill writedowns across 1 year(s) (FY2025 ($4M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-14.9%
Debt / Equity0.41x
Free Cash Flow$-21.8M
Latest Revenue$727.3M
Return on Equity-12.9%
Revenue Growth YoY+10.1%
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 NEOGENOMICS INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about NEO'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