Event-Driven Stocks

Change Healthcare Inc.

Technology · Services-Computer Processing & Data Preparation · DE · SEC filings ↗ · Compare ⊕

Signs● 4 good● 1 warning● 1 severedetails ↓

Financials

SEC XBRL · annual
 FY22FY21FY20FY19
Revenue$3.48B$3.09B$196.8M—
Operating income$136.8M$100.1M−$711.2M−$1.2M
Net income−$57.4M−$112.2M−$947.6M−$52.0M
Total assets$9.93B$10.11B$10.11B$1.30B
Total liabilities$6.66B$6.86B$6.82B$166.3M
Equity$3.28B$3.25B$3.29B$1.13B
EPS (diluted)$-0.18$-0.35$-6.92$-0.69
Shares out.318.5M310.1M303.5M75.5M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2022
Operating margin
3.9%
Net margin
−1.6%
Return on equity
−1.8%
Return on assets
−0.6%
Return on capital (ROCE)
1.5%
Liabilities / assets
67.0%
Debt / equity
2.03×
Book value / share
$10.28
Revenue growth (YoY)
12.6%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2022
Altman Z″ (distress)
0.40distress
Accruals / assets
−7.6%clean
Piotroski F-Score
7/9strong

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
65
/ 100
Profitability 40Growth 100Catalyst 33Earnings quality 100Financial strength 50

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 severe● 1 warning● 4 good
  • Altman Z″ in the distress zone
  • Reported a net loss
  • Operating margin is positive
  • Revenue is growing year-over-year
  • Positive operating cash flow
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (1)