Acco Brands Corporation
ACCO Industrials Business Equipment & Supplies
Acco Brands Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 8.49% from fiscal 2024. In the quarter to June 2026, revenue grew 5.14%, EPS fell 53.1%, free cash flow fell 47.4% and total debt fell 4.70%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Acco Brands Corporation (ACCO) Altman Z-score
Acco Brands Corporation's Altman Z-score for fiscal 2025 is 0.67, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.67 | 0.10 |
| FY2024 | 0.58 | (0.21) |
| FY2023 | 0.78 | 0.01 |
| FY2022 | 0.77 | (0.13) |
| FY2021 | 0.90 | 0.21 |
| FY2020 | 0.69 | (0.32) |
| FY2019 | 1.02 | 0.09 |
| FY2018 | 0.92 | (0.14) |
| FY2017 | 1.06 | (0.13) |
| FY2016 | 1.19 | 0.31 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.13 | — | 0.15 | |
| Retained earnings / total assets | (0.30) | — | −0.42 | |
| EBIT / total assets | 0.04 | — | 0.14 | |
| Market value of equity / total liabilities | 0.22 | — | 0.13 | |
| Sales / total assets | 0.68 | — | 0.68 | |
| Altman Z-score | Distress zone | 0.67 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.57 | ||
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 |
|---|---|
| EBF Ennis, Inc. compare | 9.4× |
| ACTG Acacia Research Corporation compare | 1.7× |
| XRX Xerox Holdings Corporation compare | 1.1× |
| ACCO Acco Brands Corporation | 0.7× |
| EHGO Eshallgo Inc. compare | −0.8× |
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