Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
RECURSION PHARMACEUTICALS, INC. (RXRX)
A forensic read on RECURSION PHARMACEUTICALS, 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
-1.1
Altman Z-score
Watch
Earnings quality
3
Forensic signals
-54.3%
ROE
$1.9B
Market cap
RECURSION PHARMACEUTICALS, INC. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -1.1, 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
-86%Return on invested capital.Return on invested capital is -86% and rising from -380% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+51.6%/yrShare-count dilution.Diluted share count changed +155% over the last 3 years to FY2025 (+51.6%/yr). The count is GROWING — existing holders are being diluted. That's ~51.6% 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 ~155%.
149% of revStock-based comp load.Stock-based compensation ran 149% of revenue in FY2025 — about $0.25 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-863.4%
Debt / Equity0.02x
Free Cash Flow$-378.3M
Latest Revenue$74.7M
Return on Equity-57.0%
Revenue Growth YoY+26.9%
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 RECURSION PHARMACEUTICALS, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about RXRX'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