Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 8, 2026
Pacira BioSciences, Inc. (PCRX)
A forensic read on Pacira BioSciences, Inc. 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
Safe
Financial health
3.1
Distress distance
Clean
Earnings quality
4
Forensic signals
1.0%
ROE
3.6%
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 (auditor quality, say on pay, board independence, going concern). 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.
Pacira BioSciences, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.1, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
339d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 246 to 339 FY2024→FY2025 (against cost of goods sold; inventory +22% vs -12% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
1.2%
FY2025
Return on invested capital.Return on invested capital is 1.2% in the latest fiscal year, against 4.5% in FY2023, having run between -4.7% and 4.5% across FY2023–FY2025 with no direction held. After-tax operating profit was $60M in FY2023 and $12M in FY2025, with operating income at 13.0% of revenue in FY2023, -10.5% in FY2024 and 2.6% in FY2025. The capital base behind it cannot be compared across FY2023–FY2025: short-term debt is tagged in one of those two fiscal years and not the other, and an untagged line enters this calculation as zero, so any change in the base would be a change in what the filer tagged. $144M of the $1.1B base at FY2025 is short-term investments (13.4%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns. FY2025's operating profit carried a $26M asset write-down and a $4M restructuring charge that alone took about 1.8 points off that year's return, so about 1.8 of the 3.3-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. FY2024's operating profit carried a $163M goodwill write-off and a $9M restructuring charge that alone took about 10.9 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
109% of FCF
FY2025
Shareholder returns.Returned $148M to shareholders (buybacks + dividends) in FY2025 — 109% of free cash flow. That is $12M (9%) more than free cash flow covered. It came out of the balance sheet's own liquid holdings, not new debt: cash and short-term investments fell $246M over FY2025, while total debt fell $213M. That ratio has been CLIMBING past free cash flow — 0% of free cash flow two years back — not just sitting there. Counting the $58M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 151%.
$163M
FY2024
Goodwill impairments.Took $163M of goodwill writedowns across 1 year (FY2024 ($163M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$726.4M
Revenue Growth YoY+3.6%
Revenue CAGR (2yr)+3.7%
Net Margin1.0%
Free Cash Flow$136.7M
Return on Equity1.0%
Debt / Equity0.54x
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 Pacira BioSciences, Inc.'s actual 10-K/10-Q/8-K filings?