Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| AbCellera Biologics Inc.ABCL · healthcare | |
|---|---|
| Grade |  Dfourth fifth of 371 graded peers; percentile 71.4, sampling error 2.5 points; lower is stronger |
| Rank | 265 of 371 |
| Profitability | D/Epercentile 78.6 |
| Solvency | Bpercentile 25.4 |
| Growth and financing | C/Dpercentile 62.3 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.4B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Feb 24, 2026227 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $12.022026-10-08; market equity $3.7B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 24, 2026; the document on sec.gov.
” included in our Annual Report on Form 10-K for the year ended December 31, 2025. We allocate our resources to pursue a particular drug candidate or indication and, as a result, may fail to capitalize on other drug candidates or indications that may be more profitable or for which there is a greater likelihood of success. We allocate our resources to certain research programs and drug candidates. As a result, we may forgo or delay pursuit of opportunities with other drug candidates or for our current development candidates in other indications that later prove to have greater commercial potential.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 78.6 | |||||||
| Gross profitability | not computable | 32.2% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | not computable | 9.3% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (1.1%) | [1,3-5] | (6.6%) | 78.6 | 811 | 2025-12-31 | |
| Gross margin stability, five years | not computable | 2.8 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 25.4 | |||||||
| Twelve-month failure probability | 0.06% | 0.07% | 42.9 | 248 | 2026-06-30 | ||
| Altman Z double-prime | 4.67 | [1,6-11] | (0.31) | 19.7 | 756 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.82x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | (4.51x) | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 11.32x | [6-7] | 2.96x | 13.6 | 839 | 2025-12-31 | |
| Growth and financing, sleeve percentile 62.3 | |||||||
| Revenue growth, three-year compound | (46.3%) | [2,12-14] | 10.0% | 95.2 | 415 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 10.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 37.1% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | (4.1%) | [1,5,15-16] | 2.1% | 61.3 | 704 | 2025-12-31 | |
| Net share issuance, one year | 1.7% | [17-18] | 2.5% | 30.5 | 634 | 2026-02-19 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.130; sampling error 2.5 percentile points on 371 peers.
Among 371 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 260 | Rockwell Medical, Inc. (RMTI) Rockwell Medical, Inc. (RMTI) Dfourth fifth; percentile 70.0 Nasdaq · Pharmaceutical Preparations market equity $32.3M; last close $8.25 No active warnings; 9 of 14 inputs | 70.0 | D | |
| 261 | Bioventus Inc. (BVS) Bioventus Inc. (BVS) Dfourth fifth; percentile 70.3 Nasdaq · Surgical & Medical Instruments & Apparatus last close $12.70 No active warnings; 7 of 14 inputs | 70.3 | D | |
| 262 | Ovid Therapeutics Inc. (OVID) Ovid Therapeutics Inc. (OVID) Dfourth fifth; percentile 70.5 Nasdaq · Pharmaceutical Preparations market equity $457.0M; last close $2.33 Warnings: dilution, short runway; 7 of 14 inputs | 70.5 | D | dilution, short runway |
| 263 | uniQure N.V. (QURE) uniQure N.V. (QURE) Dfourth fifth; percentile 70.8 Nasdaq · Pharmaceutical Preparations market equity $1.4B; last close $22.52 Warnings: fortress balance sheet; 8 of 14 inputs | 70.8 | D | fortress balance sheet |
| 264 | Regeneron Pharmaceuticals, Inc. (REGN) Regeneron Pharmaceuticals, Inc. (REGN) Dfourth fifth; percentile 71.1 Nasdaq · Pharmaceutical Preparations last close $739.13 No active warnings; 7 of 14 inputs | 71.1 | D | |
| 265 | AbCellera Biologics Inc. (ABCL) AbCellera Biologics Inc. (ABCL) Dfourth fifth; percentile 71.4 Nasdaq · Pharmaceutical Preparations market equity $3.7B; last close $12.02 No active warnings; 7 of 14 inputs | 71.4 | D | |
| 266 | Cumberland Pharmaceuticals Inc. (CPIX) Cumberland Pharmaceuticals Inc. (CPIX) Dfourth fifth; percentile 71.6 Nasdaq · Pharmaceutical Preparations market equity $104.6M; last close $7.07 No active warnings; 10 of 14 inputs | 71.6 | D | |
| 267 | Bausch & Lomb Corp. (BLCO) Bausch & Lomb Corp. (BLCO) Dfourth fifth; percentile 71.9 NYSE · Ophthalmic Goods market equity $6.1B; last close $17.15 No active warnings; 7 of 14 inputs | 71.9 | D | |
| 268 | Pennant Group, Inc. (PNTG) Pennant Group, Inc. (PNTG) Dfourth fifth; percentile 72.2 Nasdaq · Services-Health Services market equity $1.4B; last close $40.33 No active warnings; 7 of 14 inputs | 72.2 | D | |
| 269 | Bausch Health Companies Inc. (BHC) Bausch Health Companies Inc. (BHC) Dfourth fifth; percentile 72.4 NYSE · Pharmaceutical Preparations market equity $2.3B; last close $6.04 No active warnings; 9 of 14 inputs | 72.4 | D | |
| 270 | 3M Co. (MMM) 3M Co. (MMM) Dfourth fifth; percentile 72.7 NYSE · Surgical & Medical Instruments & Apparatus market equity $84.4B; last close $163.56 No active warnings; 10 of 14 inputs | 72.7 | D |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 84.8 | 2204 |
| sector peers, equal sleeves (the grade) | D | 71.4 | 371 |
| same exchange, equal sleeves | D | 77.6 | 1219 |
| sector peers, equal inputs | C | 52.7 | 371 |
Each letter is one fifth of the 371 graded peers, about 74 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 128.2% | 8.0% | 92 | hotter than 92 of 100 peers |
| Distance from 52-week high | (18.9%) | (31.4%) | 67 | closer to its high than 67 of 100 peers |
| EBIT to enterprise value | not computable | (1.5%) | required accounting or market input is missing | |
| Free cash flow yield | (4.7%) | (1.0%) | 40 | pricier than 60 of 100 peers |
| Book value to price | 0.24 | 0.28 | 47 | pricier than 53 of 100 peers |
| Sales to price | 0.02 | 0.31 | 9 | pricier than 91 of 100 peers |
| Composite equity issuance, five years | not computable | 20.3% | a share count from five years earlier is required | |
| Relative strength against the sector, log excess return | 0.61 | (0.14) | 92 | ahead of 92 of 100 peers |
Inputs: market equity $3.7B; EBIT -$217.1M; free cash flow -$174.1M; book equity $896.0M; sales $75.1M; cash $120.1M[19].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (10.8%) | ✗ fail[3,5] |
| Operating cash flow above zero | -$131.3M | ✗ fail[4] |
| Return on assets improved | 0.2 pts | ✓ pass[3,5,15,20] |
| Operating cash flow exceeds net income | $15.1M | ✓ pass[3-4] |
| Long-term leverage fell | n/a[1,5,15] | |
| Current ratio improved | 151.7 pts | ✓ pass[6-7,21-22] |
| No new shares issued | 1.7% | ✗ fail[17-18] |
| Gross margin improved | n/a | |
| Asset turnover improved | 3.6 pts | ✓ pass[2,5,12,15] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $120.1M[23] |
| Operating cash flow, four quarters | -$94.9M[4,23-27] |
| Months of runway | 15.2 |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 65 |
| 10-Q received Aug 5, 2026 | |
| Median daily dollar volume | $51.5M |
| 63 sessions | |
| Days since newest grade input | 227 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.4B | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $75.1M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 3 | net income | us-gaap:NetIncomeLoss | -$146.4M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 4 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$131.3M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 5 | assets | us-gaap:Assets | $1.4B | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 6 | current assets | us-gaap:AssetsCurrent | $728.2M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 7 | current liabilities | us-gaap:LiabilitiesCurrent | $64.3M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 8 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$29.5M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 9 | operating income | us-gaap:OperatingIncomeLoss | -$217.1M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $966.9M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 11 | liabilities | us-gaap:Liabilities | $390.0M | 2025-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $28.8M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $38.0M | 2023-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $485.4M | 2022-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 15 | assets | us-gaap:Assets | $1.5B | 2023-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 16 | assets | us-gaap:Assets | $1.5B | 2022-12-31 | 2024-02-20 | 10-K | filing · viewer · series |
| 17 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 303,160,487 | 2026-02-19 | 2026-02-24 | 10-K | filing · viewer · series |
| 18 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 297,987,669 | 2025-02-21 | 2025-02-27 | 10-K | filing · viewer · series |
| 19 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 306,611,466 | 2026-08-03 | 2026-08-05 | 10-Q | filing · viewer · series |
| 20 | net income | us-gaap:NetIncomeLoss | -$162.9M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 21 | current assets | us-gaap:AssetsCurrent | $751.4M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 22 | current liabilities | us-gaap:LiabilitiesCurrent | $76.6M | 2024-12-31 | 2026-02-24 | 10-K | filing · viewer · series |
| 23 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $120.1M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 24 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$7.6M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 25 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$33.5M | 2026-03-31 | 2026-05-11 | 10-Q | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$96.6M | 2025-09-30 | 2025-11-06 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$44.0M | 2025-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 71.4 is 8.6 points from the nearest band edge; sampling error is 2.5 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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