Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Zevra Therapeutics, Inc. (ZVRA)
A forensic read on Zevra 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
3.4
Distress distance
Watch
Earnings quality
6
Forensic signals
5.7
P / E (ttm)
53.8%
ROE
$675M
Market cap
350.9%
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.
Zevra Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 3.4, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-30.9%
FY2025
Return on invested capital.Return on invested capital is -30.9% in the latest fiscal year and rising from -89% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
stopped
FY2023→FY2024
Shareholder returns — halted.Capital returns have STOPPED — $3M of buybacks + dividends in FY2023, but ~$0 in FY2024. A halt usually means the company is conserving cash.
-$104.8M
FY2023–FY2025
Cash burn vs. reported loss.Over FY2023–FY2025, the company reported a cumulative net loss of $68.3M against operating cash flow of -$104.8M. Cash burn ran heavier than the reported loss — something outside net income (working capital, a cash item not in the P&L) is consuming cash faster than the loss alone implies.
+80.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +80.9% 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 payables paid down 81% on the year. That build tracks a +351% revenue year: net operating assets grew +136%, 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. This is the third straight fiscal year of building accruals — a multi-year streak is a materially stronger tell than a single year's move. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by 77% of net operating assets.
Key fundamentals
Latest Revenue$106.5M
Revenue Growth YoY+350.9%
Revenue CAGR (3yr)+118.8%
Net Margin78.2%
Free Cash Flow-$2.4M
Return on Equity53.8%
Debt / Equity0.40x
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 Zevra Therapeutics, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Zevra Therapeutics, Inc. (ZVRA) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
203d DSO
FY2023→FY2024
Receivables vs revenue.Days sales outstanding moved from 155 to 203 days FY2023→FY2024 (receivables -37% vs revenue -14%). Receivables are creeping up relative to sales. Across FY2020–FY2024 the day count ran 57 → 25 → 155 → 155 → 203 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter.
n/m (stock split)
FY2020–FY2025
Share count (stock split).Diluted share count changed +1338% over the last 5 years to FY2025, but that includes a large one-time change around FY2021 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 +70.4%/yr figure isn't a real buyback/dilution read here.