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Forensic Analysis · Medical Devices · as of Nov 11, 2026

Shoulder Innovations, Inc. (SI)

A forensic read on Shoulder Innovations, 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
7.7
Distress distance
1
Forensic signals
-28.7%
ROE

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.

Shoulder Innovations, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 7.7, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-16.1%
FY2025
Return on invested capital. Return on invested capital is -16.1% in the latest fiscal year. $97M of the $129M base at FY2025 is short-term investments (75.6%) — 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 the loss on the operating capital is larger than this rate shows.

Key fundamentals

Latest Revenue$47.3M
Net Margin-85.3%
Free Cash Flow-$36.0M
Return on Equity-28.7%
Debt / Equity0.11x

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Data from SEC EDGAR public filings · metrics as of Nov 11, 2026. Forensic signals flag probability, not certainty.

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