# Largest positive accrual gap (net income minus operating cash flow, scaled by average assets)

Informational only - not investment advice.

Companies ranked mechanically by (net income minus operating cash flow) divided by average total assets, all for the same latest fiscal year (average of that year-end and the prior year-end), from SEC companyfacts. Rows require average assets of at least $100.0M and exclude SIC 6xxx financial companies.

Mechanical ranking by stated metric from SEC/FRED data; not a recommendation, endorsement, or investment judgment. As of: 2026-08-14.

- Ranked companies can have different latest fiscal-year ends, which affects temporal comparability.
- Period-end comparability: ranked values span fiscal period-ends from 2025-06-30 to 2026-07-03 (a 12-month spread), so the ranking compares companies over different reporting periods; row-level offsets are shown relative to modal period end 2025-12-31.
- The accrual gap is (net income minus operating cash flow) divided by average total assets for the same fiscal year. Non-cash accruals have routine sources, including depreciation and amortization policy, working-capital timing, and deferred items; the gap is a descriptive decomposition, not a judgment.
- Operating cash flow composition differs structurally by industry; SIC 6xxx financial companies are excluded from accrual-gap tables.
- Comparisons across industries are not apples-to-apples: revenue and assets are defined differently by industry (for example, a bank's revenue is interest/fee income, and a REIT's revenue is lease income).
- Minimum average-assets floor: $100.0M.
- Computed for 222 of 2825 covered companies; companies with negative accrual gap appear on the largest-negative-accrual-gap table when otherwise eligible, and zero accrual gaps are omitted from both sign-split tables; companies missing a required same-fiscal-year input, failing the annual period-spacing gate, or below the stated floors are omitted rather than estimated.

| Rank | Company | Accrual gap | FY | Period end | Comparability | Regime | Extra |
| ---: | --- | ---: | ---: | --- | --- | --- | --- |
| 1 | [ABEO](/company/ABEO/) - ABEONA THERAPEUTICS INC. | 89.81% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $147.5M; avg assets $164.3M |
| 2 | [CHRS](/company/CHRS/) - Coherus Oncology, Inc. | 86.73% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $306.5M; avg assets $353.4M |
| 3 | [RIGL](/company/RIGL/) - RIGEL PHARMACEUTICALS INC | 86.00% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $291.4M; avg assets $338.8M |
| 4 | [SEAT](/company/SEAT/) - Vivid Seats Inc. | 78.99% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $897.7M; avg assets $1.1B |
| 5 | [AREN](/company/AREN/) - Arena Group Holdings, Inc. | 74.79% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $85.6M; avg assets $114.5M |
| 6 | [TGTX](/company/TGTX/) - TG THERAPEUTICS, INC. | 57.52% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $472.0M; avg assets $820.5M |
| 7 | [BYND](/company/BYND/) - BEYOND MEAT, INC. | 56.30% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $364.0M; avg assets $646.4M |
| 8 | [SPIR](/company/SPIR/) - Spire Global, Inc. | 54.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $111.1M; avg assets $202.3M |
| 9 | [HUMA](/company/HUMA/) - Humacyte, Inc. | 50.51% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $64.2M; avg assets $127.1M |
| 10 | [NVAX](/company/NVAX/) - NOVAVAX INC | 50.05% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $684.9M; avg assets $1.4B |
| 11 | [WDC](/company/WDC/) - WESTERN DIGITAL CORP | 39.44% | 2026 | as of 2026-07-03 | offset about 6 months after row reference (+184d) (offset) | operating | NI minus OCF $5.5B; avg assets $13.9B |
| 12 | [OMER](/company/OMER/) - OMEROS CORP | 37.41% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $112.7M; avg assets $301.4M |
| 13 | [ZVRA](/company/ZVRA/) - ZEVRA THERAPEUTICS, INC. | 36.65% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $84.8M; avg assets $231.4M |
| 14 | [ALMS](/company/ALMS/) - ALUMIS INC. | 33.52% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $126.2M; avg assets $376.5M |
| 15 | [SRTA](/company/SRTA/) - Strata Critical Medical, Inc. | 31.01% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $90.3M; avg assets $291.1M |
| 16 | [SKYT](/company/SKYT/) - SkyWater Technology, LLC | 28.28% | 2025 | as of 2025-12-28 | offset -3d (aligned) | operating | NI minus OCF $147.9M; avg assets $522.9M |
| 17 | [MASS](/company/MASS/) - 908 Devices Inc. | 24.70% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $43.2M; avg assets $174.8M |
| 18 | [PSIX](/company/PSIX/) - POWER SOLUTIONS INTERNATIONAL, INC. | 23.87% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $89.9M; avg assets $376.5M |
| 19 | [SAFX](/company/SAFX/) - XCF Global, Inc. | 23.73% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $91.9M; avg assets $387.1M |
| 20 | [AUPH](/company/AUPH/) - Aurinia Pharmaceuticals Inc. | 23.27% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $151.5M; avg assets $651.1M |
| 21 | [LYFT](/company/LYFT/) - Lyft, Inc. | 23.17% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $1.7B; avg assets $7.2B |
| 22 | [VISN](/company/VISN/) - Vistance Networks, Inc. | 21.64% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $2.0B; avg assets $9.1B |
| 23 | [ARVN](/company/ARVN/) - ARVINAS, INC. | 21.33% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $193.0M; avg assets $904.6M |
| 24 | [ATEX](/company/ATEX/) - Anterix Inc. | 21.33% | 2026 | as of 2026-03-31 | offset about 3 months after row reference (+90d) (offset) | operating | NI minus OCF $85.1M; avg assets $399.2M |
| 25 | [AMSC](/company/AMSC/) - AMERICAN SUPERCONDUCTOR CORP /DE/ | 21.08% | 2026 | as of 2026-03-31 | offset about 3 months after row reference (+90d) (offset) | operating | NI minus OCF $110.7M; avg assets $525.0M |
| 26 | [DDD](/company/DDD/) - 3D SYSTEMS CORP | 20.82% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $117.7M; avg assets $565.3M |
| 27 | [DJCO](/company/DJCO/) - DAILY JOURNAL CORP | 20.76% | 2025 | as of 2025-09-30 | offset about 3 months before row reference (-92d) (offset) | operating | NI minus OCF $98.8M; avg assets $475.9M |
| 28 | [SATL](/company/SATL/) - Satellogic Inc. | 20.75% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $22.1M; avg assets $106.5M |
| 29 | [BEAM](/company/BEAM/) - Beam Therapeutics Inc. | 20.51% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $265.1M; avg assets $1.3B |
| 30 | [ACAD](/company/ACAD/) - ACADIA PHARMACEUTICALS INC | 20.43% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $281.2M; avg assets $1.4B |
| 31 | [EGAN](/company/EGAN/) - EGAIN Corp | 19.57% | 2025 | as of 2025-06-30 | offset about 6 months before row reference (-184d) (offset) | operating | NI minus OCF $27.0M; avg assets $137.9M |
| 32 | [FTAI](/company/FTAI/) - FTAI Aviation Ltd. | 19.30% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $811.8M; avg assets $4.2B |
| 33 | [INDV](/company/INDV/) - Indivior Pharmaceuticals, Inc. | 18.83% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $237.0M; avg assets $1.3B |
| 34 | [ADMA](/company/ADMA/) - ADMA BIOLOGICS, INC. | 17.35% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $96.5M; avg assets $556.5M |
| 35 | [AAOI](/company/AAOI/) - APPLIED OPTOELECTRONICS, INC. | 15.88% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $136.2M; avg assets $857.7M |
| 36 | [WNC](/company/WNC/) - WABASH NATIONAL Corp | 15.47% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $199.8M; avg assets $1.3B |
| 37 | [SABR](/company/SABR/) - Sabre Corp | 13.87% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $633.5M; avg assets $4.6B |
| 38 | [SOUN](/company/SOUN/) - SOUNDHOUND AI, INC. | 13.56% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $84.2M; avg assets $621.1M |
| 39 | [PLUS](/company/PLUS/) - EPLUS INC | 13.53% | 2026 | as of 2026-03-31 | offset about 3 months after row reference (+90d) (offset) | operating | NI minus OCF $248.9M; avg assets $1.8B |
| 40 | [BYD](/company/BYD/) - BOYD GAMING CORP | 13.37% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $866.6M; avg assets $6.5B |
| 41 | [KMT](/company/KMT/) - KENNAMETAL INC | 12.13% | 2026 | as of 2026-06-30 | offset about 6 months after row reference (+181d) (offset) | operating | NI minus OCF $346.4M; avg assets $2.9B |
| 42 | [FTK](/company/FTK/) - FLOTEK INDUSTRIES INC/CN/ | 11.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $23.3M; avg assets $195.4M |
| 43 | [CYRX](/company/CYRX/) - Cryoport, Inc. | 11.83% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $86.9M; avg assets $734.2M |
| 44 | [XOMA](/company/XOMA/) - XOMA Royalty Corp | 11.68% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $28.8M; avg assets $247.0M |
| 45 | [NSP](/company/NSP/) - INSPERITY, INC. | 11.29% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $271.0M; avg assets $2.4B |
| 46 | [RCUS](/company/RCUS/) - Arcus Biosciences, Inc. | 11.27% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $129.0M; avg assets $1.1B |
| 47 | [UNIT](/company/UNIT/) - Uniti Group Inc. | 11.02% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $954.5M; avg assets $8.7B |
| 48 | [NVDA](/company/NVDA/) - NVIDIA CORP | 10.90% | 2026 | as of 2026-01-25 | offset +25d (offset) | operating | NI minus OCF $17.3B; avg assets $159.2B |
| 49 | [ALEC](/company/ALEC/) - Alector, Inc. | 10.79% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $41.1M; avg assets $380.8M |
| 50 | [SMR](/company/SMR/) - NUSCALE POWER Corp | 10.61% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF $103.8M; avg assets $978.6M |