Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 2, 2026
Scynexis Inc (SCYX)
A forensic read on Scynexis 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
-13.9
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-17.4%
ROE
449.9%
Revenue growth
Financial health / Altman Z-score above is based on book value, not market value — 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). 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.
Scynexis Inc earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -13.9, 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 return on invested capital.
What the filings flag
-39.6%
FY2025
Return on invested capital.Return on invested capital is -39.6% in the latest fiscal year and rising from -278% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+5.4%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +17% over the last 3 years to FY2025 (+5.4%/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 ~5.4% 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 ~15%.
0.83×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, operating cash flow was 0.83× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
14% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 14% of revenue in FY2025 — about $0.06 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Latest Revenue$20.6M
Revenue Growth YoY+449.9%
Revenue CAGR (3yr)+59.3%
Net Margin-41.8%
Return on Equity-17.4%
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 Scynexis Inc:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about SCYX'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