Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Personalis, Inc. (PSNL)
A forensic read on Personalis, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Safe
Financial health
9.2
Distress distance
Watch
Earnings quality
5
Forensic signals
-13.0
P / E (ttm)
-31.1%
ROE
$1.5B
Market cap
0.00%
Dividend yield
-17.7%
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). 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.
Personalis, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 9.2, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+20.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +20.4% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). 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 build is led by receivables up +99% against revenue -18%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 5% of net operating assets, diverging from the balance-sheet accrual read.
64d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 56 to 64 days FY2024→FY2025 (receivables +99% vs revenue -18%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Across FY2021–FY2025 the day count ran 53 → 99 → 85 → 56 → 64 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter. Deferred revenue was roughly flat (-50%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. Measured against the same quarter twelve months earlier — like-for-like on the calendar, so an ordinary seasonal build cannot produce it — receivables took longer to collect in 4 consecutive quarters (Sep 2025 +43, Dec 2025 +41, Mar 2026 +28, Jun 2026 +9 days). In the latest of them the receivable balance grew +52% against sales +30%, so more of a quarter's billings were still outstanding at the period end than a year earlier — money the company has recognized and not yet been paid.
-40.9%
FY2025
Return on invested capital.Return on invested capital is -40.9% in the latest fiscal year and rising from -54% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
Key fundamentals
Latest Revenue$69.6M
Revenue Growth YoY-17.7%
Net Margin-116.7%
Free Cash Flow-$79.5M
Return on Equity-31.1%
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 Personalis, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
+25.0%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +95% over the last 3 years to FY2025 (+25.0%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~25.0% 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 ~49%.
14% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 14% of revenue in FY2025 — about $0.11 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 26.3% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Personalis, Inc. (PSNL) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy