ARAVIVE, INC
ARAV Healthcare Biotechnology
ARAVIVE, INC’s revenue for fiscal 2022 (year ended December 2022) was $9.1 million. Revenue growth for five consecutive years.
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ARAVIVE, INC (ARAV) Altman Z-score
ARAVIVE, INC's Altman Z-score for fiscal 2022 cannot be worked out: no share price in the week to the fiscal year end.
Altman Z-score, annual
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|
How fiscal 2022’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.58 | — | 0.69 | |
| Retained earnings / total assets | (9.91) | — | −13.88 | |
| EBIT / total assets | (1.14) | — | −3.76 | |
| Market value of equity / total liabilities | — | — | n/a | — |
| Sales / total assets | 0.15 | — | 0.15 | |
| Altman Z-score | n/a — no share price in the week to the fiscal year end | — | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −35.97 | ||
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× |
| DCOY Decoy Therapeutics Inc compare | 4.3× |
| ONCO Onconetix, Inc. compare | −9.8× |
| BCAB BioAtla, Inc. compare | −70.1× |
| VIVS VivoSim Labs, Inc. compare | −71.7× |
| GRI GRI Bio, Inc. compare | — |
| REVB Revelation Biosciences, Inc. compare | — |
| MBIO Mustang Bio, Inc. compare | — |
| ARAV ARAVIVE, 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