Ambow Education Holding Ltd.
AMBO Consumer Defensive Education & Training Services
Ambow Education Holding Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $9.5 million, up 0.82% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 225.0%, free cash flow grew 277.5% and total debt rose 18.5%, each against the same quarter a year earlier.
Follow AMBO
Ambow Education Holding Ltd. (AMBO) Altman Z-score
Ambow Education Holding Ltd.'s Altman Z-score for fiscal 2025 is −33.07, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −33.07 | 6.98 |
| FY2024 | −40.06 | (5.37) |
| FY2023 | −34.68 | (6.63) |
| FY2022 | −28.05 | (23.23) |
| FY2021 | −4.82 | (0.34) |
| FY2020 | −4.48 | (0.11) |
| FY2019 | −4.38 | (0.61) |
| FY2018 | −3.76 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.29 | — | 0.34 | |
| Retained earnings / total assets | (24.47) | — | −34.26 | |
| EBIT / total assets | 0.01 | — | 0.02 | |
| Market value of equity / total liabilities | 0.63 | — | 0.38 | |
| Sales / total assets | 0.46 | — | 0.46 | |
| Altman Z-score | Distress zone | −33.07 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −77.19 | ||
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 |
|---|---|
| WAFU Wah Fu Education & Technology Group Limited compare | 2.8× |
| CLEUF China Liberal Education Holdings Limited compare | 1.4× |
| STG Sunlands Technology Group Sponsored ADR compare | 1.1× |
| GSUN Golden Sun Technology Group Limited compare | 0.2× |
| EEIQ EpicQuest Education Group International Limited compare | −0.4× |
| LXEH Lixiang Education Holding Co., Ltd. Sponsored ADR compare | −2.3× |
| MYND Mynd.ai, Inc. Unsponsored ADR compare | −3.5× |
| AMBO Ambow Education Holding Ltd. | −33.1× |
| ZME Zhangmen Education Inc. Sponsored ADR 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