Above Food Ingredients Inc.
ABVEF Consumer Defensive Packaged Foods
Above Food Ingredients Inc.’s revenue for fiscal 2024 (year ended January 2024) was $272.9 million.
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Above Food Ingredients Inc. (ABVEF) Altman Z-score
Above Food Ingredients Inc.'s Altman Z-score for fiscal 2024 is 3.42, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | 3.42 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.59) | — | −0.71 | |
| Retained earnings / total assets | (0.72) | — | −1.01 | |
| EBIT / total assets | (0.29) | — | −0.97 | |
| Market value of equity / total liabilities | 5.92 | — | 3.55 | |
| Sales / total assets | 2.56 | — | 2.56 | |
| Altman Z-score | Safe zone | 3.42 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −8.47 | ||
Z and Z″ put Above Food Ingredients Inc. in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PAVS Paranovus Entertainment Technology Ltd. compare | 46.3× |
| UCFI CN Healthy Food Tech Group Corp compare | 8.7× |
| ABVEF Above Food Ingredients Inc. | 3.4× |
| NAII Natural Alternatives International, Inc. compare | 1.4× |
| FAMI Farmmi, Inc. compare | −0.7× |
| NCRA Nocera, Inc. compare | −1.5× |
| CIMG CIMG Inc. compare | −1.7× |
| DDC DDC Enterprise Limited compare | −2.5× |
| SNAX Stryve Foods, Inc. compare | −7.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets