Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Solid Biosciences Inc. (SLDB)
A forensic read on Solid Biosciences 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
Grey Zone
Financial health
5.2
Distress distance
Watch
Earnings quality
3
Forensic signals
-4.4
P / E (ttm)
-96.8%
ROE
$949M
Market cap
0.00%
Dividend yield
-40.6%
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 (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.
Solid Biosciences Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 5.2, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+71.2%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +71.2% 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 payables paid down 24% on the year. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 20% of net operating assets, diverging from the balance-sheet accrual read.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed +928% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +117.4%/yr figure isn't a real buyback/dilution read here.
93% of rev
FY2022
Stock-based comp load.Stock-based compensation ran 93% of revenue in FY2022 — about $0.89 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 19.6% a year, small enough that totals and per-share results tell the same story.
Key fundamentals
Latest Revenue$8.1M
Revenue Growth YoY-40.6%
Net Margin-1062.3%
Free Cash Flow-$157.4M
Return on Equity-96.8%
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 Solid Biosciences Inc.'s actual 10-K/10-Q/8-K filings?