Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 26, 2026
Orthofix Medical Inc. (OFIX)
A forensic read on Orthofix 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
0.8
Distress distance
Clean
Earnings quality
3
Forensic signals
-5.7
P / E (ttm)
-20.5%
ROE
$373M
Market cap
0.00%
Dividend yield
2.9%
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 (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.
Orthofix Medical Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.8, placing it in the Distress zone. 3 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 and rising across FY2023–FY2025 from -15.1%. After-tax operating profit was ($110M) in FY2023 and ($64M) in FY2025, with operating income at -18.6% of revenue in FY2023, -10.6% in FY2024 and -9.9% in FY2025. The capital base behind it came down -18% across FY2023–FY2025, from $728M to $598M, so this return is struck on a smaller base than it started on.
+3.8%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +8% over the last 2 years to FY2025 (+3.8%/yr). The count is growing — 36.7M shares in FY2023, 39.6M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~3.8% 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 FY2023 has been diluted ~7%.
3% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 3% of revenue in FY2025 — about $0.72 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 3.8% a year across FY2023–FY2025 and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$822.3M
Revenue Growth YoY+2.9%
Revenue CAGR (2yr)+4.9%
Net Margin-11.2%
Free Cash Flow-$1.3M
Return on Equity-20.5%
Debt / Equity0.35x
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 Orthofix Medical Inc.'s actual 10-K/10-Q/8-K filings?