Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Stoke Therapeutics, Inc. (STOK)
A forensic read on Stoke Therapeutics, 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
Safe
Financial health
12.3
Distress distance
Clean
Earnings quality
4
Forensic signals
-9.7
P / E (ttm)
-2.0%
ROE
$2.1B
Market cap
0.00%
Dividend yield
404.5%
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.
Stoke Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 12.3, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-5.9%
FY2025
Return on invested capital.Return on invested capital is -5.9% in the latest fiscal year and rising from -74% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+15.0%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +52% over the last 3 years to FY2025 (+15.0%/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 ~15.0% 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 ~34%.
+90.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +90.6% 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, and much of it is accounted for. The build is led by receivables up +256% against revenue +405%. That build tracks a +405% revenue year: net operating assets grew +165% and receivables +256%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 28% of net operating assets, diverging from the balance-sheet accrual read.
17% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 17% of revenue and 72% of free cash flow in FY2025 — about $0.54 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 15.2% a year and is falling.
Key fundamentals
Latest Revenue$184.4M
Revenue Growth YoY+404.5%
Revenue CAGR (3yr)+145.8%
Net Margin-3.7%
Free Cash Flow$44.9M
Return on Equity-2.0%
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 Stoke Therapeutics, Inc.'s actual 10-K/10-Q/8-K filings?