Whitehawk Therapeutics, Inc. (WHWK) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jul 1, 2026
Whitehawk Therapeutics, Inc. (WHWK)
A forensic read on Whitehawk 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
3.0
Altman Z-score
Clean
Earnings quality
5
Forensic signals
$250M
Market cap
Whitehawk Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 3.0, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+122.3%Accruals ratio.Net operating assets grew +122.3% relative to their average in FY2025 — the accrual component of earnings. 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 cash-flow cross-check agrees: reported earnings ran ahead of operating cash by +125% of net operating assets.
-92%Return on invested capital.Return on invested capital is -92% and slipping from -39% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+58.3%/yrShare-count dilution.Diluted share count changed +175% over the last 3 years to FY2025 (+58.3%/yr). The count is GROWING — existing holders are being diluted. That's ~58.3% 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 ~175%.
stoppedShareholder returns — halted.Capital returns have STOPPED — $4M of buybacks + dividends in FY2021, but ~$0 in FY2022. A halt usually means the company is conserving cash; understand why before reading it as neutral.
138% of revStock-based comp load.Stock-based compensation ran 138% of revenue in FY2025 — about $0.16 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-288.3%
Free Cash Flow$-98.0M
Latest Revenue$7.1M
Return on Equity-15.1%
Revenue Growth YoY-72.5%
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 Whitehawk Therapeutics, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about WHWK'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