Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
SUPERNUS PHARMACEUTICALS, INC. (SUPN)
A forensic read on SUPERNUS PHARMACEUTICALS, INC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
5.1
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-2.7%
ROE
$2.7B
Market cap
SUPERNUS PHARMACEUTICALS, INC. earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 5.1, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
95d DSOReceivables vs revenue.Days sales outstanding moved from 78 to 95 days FY2024→FY2025 (receivables +32% vs revenue +9%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections.
551dInventory days.Days inventory outstanding moved from 254 to 551 FY2024→FY2025 (against cost of goods sold; inventory +107% vs -4% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
-5%Return on invested capital.Return on invested capital is -5% and slipping from 3% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
5% of revStock-based comp load.Stock-based compensation ran 5% of revenue and 72% of free cash flow in FY2025 — about $0.59 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin-5.4%
Debt / Equity0.40x
Free Cash Flow$46.0M
Latest Revenue$719.0M
Return on Equity-3.6%
Revenue Growth YoY+8.6%
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 SUPERNUS PHARMACEUTICALS, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about SUPN'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