Hanger, Inc.

CIK 0000722723

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Financial snapshot

Revenue

Net income

Operating margin

Free cash flow

Total debt

Cash

Research

Filings

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Analytical signals

How signals work →

Calculations over this company’s filings, each compared with a stated threshold. They indicate where to read more closely; they are analytical evidence, not conclusions, and none implies wrongdoing.

Effective tax rate

P-05 · Calculated

Threshold met

FY 2021-12-31

The gap between the effective and the statutory tax rate, and whether it persists across three years.

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

Trend: flat

P-05 inputs
Input	Value
model score (0–100)	95.3
etr_by_year.2021-12-31	0.0268
etr_by_year.2020-12-31	0.0164
etr_by_year.2019-12-31	0.0969
statutory_rate	0.21
gap_by_year.2021-12-31	0.1832
gap_by_year.2020-12-31	0.1936
gap_by_year.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

Trend

10-K· 2022-02-28 Methodology

Pension funding

P-07 · Calculated

Threshold met

FY 2021-12-31

The funded ratio of defined-benefit plans against shareholder equity.

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

Trend: flat

P-07 inputs
Input	Value
model score (0–100)	83.0
benefit_obligation	17935000
plan_assets	null
funded_ratio	0.1986
deficit	-14374000
deficit_vs_equity	0.1305
thresholds.elevated	<90% funded
thresholds.triggered	<80% funded or deficit >25% of equity
stale	false
latest_filing_period	2021-12-31

Trend

10-K· 2022-02-28 Methodology

Earnings quality

P-01 · Calculated

Elevated

FY 2021-12-31

How reported earnings relate to accruals and to changes in receivables, margins and asset quality.

Beneish M-Score -2.19 is above the -2.22 reference level used here

Trend: flat

P-01 inputs
Input	Value
model score (0–100)	37.7
m_score	-2.191
threshold	-1.78
ratios.DSRI	1.057
ratios.GMI	1
ratios.AQI	1.159
ratios.SGI	1.119
ratios.DEPI	1
ratios.SGAI	1
ratios.LVGI	0.88
ratios.TATA	0.006
defaulted_to_neutral	GMI, DEPI, SGAI
sloan_accruals	0.0059
inputs.revenue_t	1120488000
inputs.revenue_t1	1001150000
inputs.total_assets_t	998139000
inputs.net_income_t	41982000
inputs.cfo_t	36210000
stale	false
latest_filing_period	2021-12-31

Trend

10-K· 2022-02-28 Methodology

Interest coverage

P-13 · Calculated

Elevated

FY 2018-12-31

Whether operating earnings cover interest expense, and for how many consecutive years they did not.

[FY2018 data, stale — no more recent EBIT figure in XBRL] Altman Z'' is below the 1.1 distress-zone cut-off

Trend: flat

P-13 inputs
Input	Value
model score (0–100)	20.0
icr_by_year.2021-12-31	null
icr_by_year.2020-12-31	null
icr_by_year.2019-12-31	null
icr_by_year.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)
definitions.z_distress	<1.1 distress, 1.1-2.6 gray, >2.6 safe
inputs.ebit_t	59647000
inputs.interest_expense_t	100000
stale	true
latest_filing_period	2021-12-31

Trend

10-K· 2021-03-01 Methodology

Restatement indicators

P-12 · Calculated

Below threshold

FY 2021-12-31

F-Score 0.60 is at or below the 1.0 reference level

Trend: flat

How closely reported accruals and financing patterns resemble those of companies that later restated.

P-12 inputs
Input	Value
model score (0–100)	20.0
f_score	0.601
probability	0.00222
components.rsst	0.0059
components.drec	0.0241
components.dinv	0.0113
components.soft	0.8556
components.dcs	0.0958
components.droa	0.0019
components.issue	0
model	Dechow et al. 2011, Model 1 (simplified RSST)
thresholds.elevated	1
thresholds.triggered	1.85
stale	false
latest_filing_period	2021-12-31

Trend

10-K· 2022-02-28 Methodology

No stored result for Subsidiary jurisdictions, ESG disclosure support, Insider filing timing, Language change, Strategic-review language, Carbon-exposed assets. Some signals are computed on request, and others need inputs this company’s filings do not tag; a missing result is not a finding either way.

Methodology and sources

Financial figures come from SEC XBRL company facts (annual reports). Choose any evidence marker to see the filing behind a value.
Filing text comes from SEC EDGAR. Browse this company on EDGAR ↗
Signals are calculated by Stratum from those filings. Some use AI to read filing text, and every AI claim must quote the document verbatim or it is discarded. Full methodology

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