Akebia Therapeutics, Inc.
AKBA Healthcare Drug Manufacturers Specialty & Generic
Akebia Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $236.2 million, up 47.5% from fiscal 2024. In the quarter to June 2026, revenue fell 21.4%, EPS fell 3,433.3%, free cash flow fell 89.0% and total debt rose 5.31%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Akebia Therapeutics, Inc. (AKBA) Altman Z-score
Akebia Therapeutics, Inc.'s Altman Z-score for fiscal 2025 is −4.42, 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 | −4.42 | 5.19 |
| FY2024 | −9.61 | (1.06) |
| FY2023 | −8.54 | (2.86) |
| FY2022 | −5.68 | (1.08) |
| FY2021 | −4.60 | (1.49) |
| FY2020 | −3.11 | (2.23) |
| FY2019 | −0.88 | (0.56) |
| FY2018 | −0.33 | (1.03) |
| FY2017 | 0.70 | 1.84 |
| FY2016 | −1.14 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.24 | — | 0.29 | |
| Retained earnings / total assets | (4.47) | — | −6.26 | |
| EBIT / total assets | 0.06 | — | 0.21 | |
| Market value of equity / total liabilities | 1.20 | — | 0.72 | |
| Sales / total assets | 0.63 | — | 0.63 | |
| Altman Z-score | Distress zone | −4.42 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −12.49 | ||
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 |
|---|---|
| SIGA Siga Technologies Inc. compare | 14.3× |
| BIOA BioAge Labs, Inc. compare | 11.0× |
| CRDL Cardiol Therapeutics Inc. compare | 3.4× |
| ANIK Anika Therapeutics Inc. compare | 3.1× |
| ORGO Organogenesis compare | 3.0× |
| DERM Journey Medical Corporation compare | 1.1× |
| LFCR Lifecore Biomedical, Inc. compare | 0.1× |
| AKBA Akebia Therapeutics, Inc. | −4.4× |
| ACB Aurora Cannabis Inc. compare | −12.3× |
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