Addex Therapeutics Ltd. Sponsored ADR
ADXN Healthcare Biotechnology
In the quarter to June 2026, revenue fell 100.8%, EPS grew 25.7% and free cash flow fell 2.73%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Addex Therapeutics Ltd. Sponsored ADR (ADXN) Altman Z-score
Addex Therapeutics Ltd. Sponsored ADR's Altman Z-score for fiscal 2025 is −78.43, 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 | −78.43 | (34.61) |
| FY2024 | −43.81 | 70.93 |
| FY2023 | −114.74 | (49.06) |
| FY2022 | −65.68 | (47.55) |
| FY2021 | −18.13 | (1.51) |
| FY2020 | −16.62 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.09 | |
| Retained earnings / total assets | (56.58) | — | −79.21 | |
| EBIT / total assets | (0.44) | — | −1.46 | |
| Market value of equity / total liabilities | 3.58 | — | 2.15 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −78.43 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −183.79 | ||
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 |
|---|---|
| APVO Aptevo Therapeutics Inc. compare | 256,174× |
| EOCN Eocene Ltd. compare | 26.9× |
| SXTP 60 Degrees Pharmaceuticals Inc. compare | −15.9× |
| ADXN Addex Therapeutics Ltd. Sponsored ADR | −78.4× |
| CLDI Calidi Biotherapeutics, Inc. compare | −85.8× |
| GRI GRI Bio, Inc. compare | — |
| REVB Revelation Biosciences, Inc. compare | — |
| PBLA Panbela Therapeutics Inc. compare | — |
| CMND Clearmind Medicine Inc. 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