Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Oct 7, 2026
Nutriband Inc. (NTRB)
A forensic read on Nutriband 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
-15.8
Distress distance
Clean
Earnings quality
4
Forensic signals
-123.2%
ROE
-4.8%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
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, going concern, valuation). 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.
Nutriband Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -15.8, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
21d DSO
FY2024→FY2026
Receivables vs revenue.Days sales outstanding moved from 13 to 21 days FY2024→FY2026 (receivables +60% vs revenue -5%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Deferred revenue was roughly flat (-23%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. FY2024 and FY2026 aren't consecutive filed years here, so FY2026's opening balance can't be taken from FY2024 — both figures are measured on period-end balances rather than the beginning-plus-ending average, which keeps the two endpoints comparable to each other.
+4.8%/yr
FY2024–FY2026
Share-count dilution.Diluted share count changed +10% over the last 2 years to FY2026 (+4.8%/yr). The count is growing — 10.6M shares in FY2024, 11.6M in FY2026: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~4.8% 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 FY2024 has been diluted ~9%.
129% of rev
FY2026
Stock-based comp load.Stock-based compensation ran 129% of revenue in FY2026 — about $0.23 per diluted share. It is a real cost, but it is not a cash cost — no cash left the business, which is why operating cash flow adds it back. Where a compensation charge lands instead is the share count, and this filer's count is not on file in enough years to say how the count moved.
$3M
FY2024–FY2024
Goodwill impairments.Took $3M of goodwill writedowns across 1 year (FY2024 ($3M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$2.0M
Revenue Growth YoY-4.8%
Revenue CAGR (2yr)-4.8%
Net Margin-404.1%
Free Cash Flow-$5.1M
Return on Equity-123.2%
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 Nutriband Inc.'s actual 10-K/10-Q/8-K filings?