stockrowAdicet Bio, Inc.
ACET Healthcare Biotechnology
Adicet Bio, Inc.’s revenue for fiscal 2022 (year ended December 2022) was $25.0 million.
- EPS
- +63.4%
- Free cash flow
- +24.9%
Quarter to June 2026, against a year earlier
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Adicet Bio, Inc. (ACET) Altman Z-score
Adicet Bio, Inc.'s Altman Z-score for fiscal 2022 is 4.96, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2022 | 4.96 | (3.78) |
| FY2021 | 8.75 | 8.43 |
| FY2020 | 0.32 | 1.95 |
| FY2019 | −1.63 | (13.77) |
| FY2018 | 12.14 | — |
How fiscal 2022’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.73 | — | 0.88 | |
| Retained earnings / total assets | (0.72) | — | −1.01 | |
| EBIT / total assets | (0.22) | — | −0.72 | |
| Market value of equity / total liabilities | 9.58 | — | 5.75 | |
| Sales / total assets | 0.08 | — | 0.08 | |
| Altman Z-score | Safe zone | 4.96 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.97 | ||
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 |
|---|---|
| EDSA Edesa Biotech, Inc. compare | 22.3× |
| ACET Adicet Bio, Inc. | 5.0× |
| MGX Metagenomi Therapeutics, Inc. compare | −1.9× |
| ALGS Aligos Therapeutics, Inc. compare | −11.0× |
| BYSI BeyondSpring Inc. compare | −12.5× |
| ABVC ABVC BioPharma, Inc. compare | −14.9× |
| ANVS Annovis Bio, Inc. compare | — |
| BCTX BRIACELL THERAP compare | — |
| PLRZ Polyrizon Ltd. compare | — |
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