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ADCT

ADC Therapeutics SA
CIK 0001771910 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
78.4
composite ยท 4 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” 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 โ€” never a guess.

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Signals

P-07 ยท FY 2025-12-31 ยท TRIGGERED41.5

Pension underfunding

DB plan 79% funded โ€” -$2M deficit
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-10) โ†—
Evidence โ€” inputs and thresholds
{
  "benefit_obligation": 9337000,
  "plan_assets": 7399000,
  "funded_ratio": 0.7924,
  "deficit": -1938000,
  "deficit_vs_equity": null,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1771910/000162828026016491/0001628280-26-016491-index.htm",
    "form": "10-K",
    "filed": "2026-03-10"
  }
}
P-13 ยท FY 2024-12-31 ยท TRIGGERED100.0

Zombie / distress

Zombie: interest coverage below 1.0x for 3 consecutive years
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-10) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": -2.602,
    "2023-12-31": -3.583,
    "2022-12-31": -3.358
  },
  "consecutive_years_below_1": 3,
  "altman_z_double_prime": -13.958,
  "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": -130654000,
    "interest_expense_t": 50211000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1771910/000162828026016491/0001628280-26-016491-index.htm",
    "form": "10-K",
    "filed": "2026-03-10"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN29.3

Earnings quality

Beneish M-Score -2.47 โ€” no manipulation profile
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-10) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.473,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1,
    "GMI": 0.986,
    "AQI": 0.653,
    "SGI": 1.149,
    "DEPI": 1,
    "SGAI": 1,
    "LVGI": 0.869,
    "TATA": -0.004
  },
  "defaulted_to_neutral": [
    "DSRI",
    "DEPI",
    "SGAI"
  ],
  "sloan_accruals": -0.0045,
  "inputs": {
    "revenue_t": 81357000,
    "revenue_t1": 70837000,
    "total_assets_t": 323150000,
    "net_income_t": -142623000,
    "cfo_t": -141174000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1771910/000162828026016491/0001628280-26-016491-index.htm",
    "form": "10-K",
    "filed": "2026-03-10"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN13.5

Restatement predictor

F-Score 0.40 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-10) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.405,
  "probability": 0.0015,
  "components": {
    "rsst": -0.0045,
    "drec": null,
    "dinv": 0.006,
    "soft": 0.1913,
    "dcs": 0.1485,
    "droa": 0.0489,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1771910/000162828026016491/0001628280-26-016491-index.htm",
    "form": "10-K",
    "filed": "2026-03-10"
  }
}