Almonty Industries Inc.
ALM Basic Materials Other Industrial Metals & Mining
Almonty Industries Inc.’s revenue for fiscal 2025 (year ended December 2025) was $23.3 million, up 10.6% from fiscal 2024. In the quarter to June 2026, revenue grew 497.2%, EPS grew 309.1%, free cash flow grew 133.4% and total debt rose 321.6%, each against the same quarter a year earlier.
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Almonty Industries Inc. (ALM) Altman Z-score
Almonty Industries Inc.'s Altman Z-score for fiscal 2025 is 6.28, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 6.28 | 5.70 |
| FY2024 | 0.58 | 0.43 |
| FY2023 | 0.14 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.36 | — | 0.43 | |
| Retained earnings / total assets | (0.48) | — | −0.67 | |
| EBIT / total assets | (0.05) | — | −0.16 | |
| Market value of equity / total liabilities | 11.04 | — | 6.62 | |
| Sales / total assets | 0.06 | — | 0.06 | |
| Altman Z-score | Safe zone | 6.28 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.10 | ||
Z and Z″ put Almonty Industries Inc. in different zones: safe zone by Z, grey zone by Z″.
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 |
|---|---|
| ALM Almonty Industries Inc. | 6.3× |
| MP MP Materials Corp. compare | 4.1× |
| MTRN Materion Corporation compare | 4.1× |
| USAR USA Rare Earth Inc. compare | 3.2× |
| USAS Americas Gold and Silver Corporation compare | 2.3× |
| NEXA Nexa Resources S.A. compare | 0.7× |
| VZLA Vizsla Silver Corp. compare | — |
| TMC TMC the metals company Inc. compare | — |
| SKE Skeena Resources Limited 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