Acorn Energy Inc.
ACFN Technology Scientific & Technical Instruments
Acorn Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.5 million, up 4.48% from fiscal 2024. In the quarter to June 2026, revenue fell 29.4%, EPS fell 58.6% and free cash flow fell 104.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
Follow ACFN
Acorn Energy Inc. (ACFN) Altman Z-score
Acorn Energy Inc.'s Altman Z-score for fiscal 2025 cannot be worked out: retained earnings not reported.
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −5.45 | 17.69 |
| FY2023 | −23.14 | (1.35) |
| FY2022 | −21.79 | (1.88) |
| FY2021 | −19.91 | 4.72 |
| FY2020 | −24.62 | 1.66 |
| FY2019 | −26.28 | 8.65 |
| FY2018 | −34.94 | (20.45) |
| FY2017 | −14.49 | (0.51) |
| FY2016 | −13.98 | (8.40) |
| FY2015 | −5.58 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.24 | — | 0.28 | |
| Retained earnings / total assets | — | — | n/a | — |
| EBIT / total assets | 0.15 | — | 0.49 | |
| Market value of equity / total liabilities | 7.51 | — | 4.51 | |
| Sales / total assets | 0.86 | — | 0.86 | |
| Altman Z-score | n/a — retained earnings not reported | — | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | n/a — retained earnings not reported | — | ||
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 |
|---|---|
| LGL LGL Group, Inc. (The) compare | 16.5× |
| SOTK Sono-Tek Corporation compare | 8.3× |
| WRAP Wrap Technologies, Inc. compare | 5.9× |
| ODYS Odysight.ai Inc. compare | 4.9× |
| MIND MIND Technology, Inc. compare | 4.4× |
| GNSS Genasys Inc. compare | −2.2× |
| ARBE Arbe Robotics Ltd. compare | −4.9× |
| MVIS Microvision, Inc. compare | −12.2× |
| ACFN Acorn Energy Inc. | — |
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