CIK 722723

Hanger, Inc.

CIK 0000722723 · EDGAR ↗

cleanelevatedtriggeredno dataplanned

80.8

composite · 5 signals · TRIGGERED

Every card below shows the score and the exact filing data it was computed from — no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded — never a guess.

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Signals

P-05 · FY 2021-12-31 · TRIGGERED95.3

Tax arbitrage

ETR 2.7% vs 21% statutory — gap persistent across 3 of 3 years

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2022-02-28) ↗

Evidence — inputs and thresholds

{
  "etr_by_year": {
    "2021-12-31": 0.0268,
    "2020-12-31": 0.0164,
    "2019-12-31": 0.0969
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2021-12-31": 0.1832,
    "2020-12-31": 0.1936,
    "2019-12-31": 0.1131
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2021-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/722723/000072272322000006/0000722723-22-000006-index.htm",
    "form": "10-K",
    "filed": "2022-02-28"
  }
}

P-07 · FY 2021-12-31 · TRIGGERED83.0

Pension underfunding

DB plan 20% funded — -$14M deficit (13% of equity)

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2022-02-28) ↗

Evidence — inputs and thresholds

{
  "benefit_obligation": 17935000,
  "plan_assets": null,
  "funded_ratio": 0.1986,
  "deficit": -14374000,
  "deficit_vs_equity": 0.1305,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2021-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/722723/000072272322000006/0000722723-22-000006-index.htm",
    "form": "10-K",
    "filed": "2022-02-28"
  }
}

P-01 · FY 2021-12-31 · ELEVATED37.7

Earnings quality

Beneish M-Score -2.19 in the elevated zone

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2022-02-28) ↗

Evidence — inputs and thresholds

{
  "m_score": -2.191,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.057,
    "GMI": 1,
    "AQI": 1.159,
    "SGI": 1.119,
    "DEPI": 1,
    "SGAI": 1,
    "LVGI": 0.88,
    "TATA": 0.006
  },
  "defaulted_to_neutral": [
    "GMI",
    "DEPI",
    "SGAI"
  ],
  "sloan_accruals": 0.0059,
  "inputs": {
    "revenue_t": 1120488000,
    "revenue_t1": 1001150000,
    "total_assets_t": 998139000,
    "net_income_t": 41982000,
    "cfo_t": 36210000
  },
  "stale": false,
  "latest_filing_period": "2021-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/722723/000072272322000006/0000722723-22-000006-index.htm",
    "form": "10-K",
    "filed": "2022-02-28"
  }
}

P-13 · FY 2018-12-31 · ELEVATED20.0

Zombie / distress

[FY2018 data, stale — no more recent EBIT figure in XBRL] Altman Z'' 0.31 in the distress zone

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2021-03-01) ↗

Evidence — inputs and thresholds

{
  "icr_by_year": {
    "2021-12-31": null,
    "2020-12-31": null,
    "2019-12-31": null,
    "2018-12-31": 596.47
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 0.307,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 59647000,
    "interest_expense_t": 100000
  },
  "stale": true,
  "latest_filing_period": "2021-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/722723/000110465921029987/0001104659-21-029987-index.htm",
    "form": "10-K",
    "filed": "2021-03-01"
  }
}

P-12 · FY 2021-12-31 · CLEAN20.0

Restatement predictor

F-Score 0.60 — at or below the population base rate

trend: flat

Trend

Source: 10-K on SEC.gov (filed 2022-02-28) ↗

Evidence — inputs and thresholds

{
  "f_score": 0.601,
  "probability": 0.00222,
  "components": {
    "rsst": 0.0059,
    "drec": 0.0241,
    "dinv": 0.0113,
    "soft": 0.8556,
    "dcs": 0.0958,
    "droa": 0.0019,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2021-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/722723/000072272322000006/0000722723-22-000006-index.htm",
    "form": "10-K",
    "filed": "2022-02-28"
  }
}