American Rebel Holdings, Inc.
AREB Consumer Cyclical Footwear & Accessories
American Rebel Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.5 million, down 16.6% from fiscal 2024. In the quarter to June 2026, revenue fell 30.1%, EPS grew 100.0%, free cash flow grew 35.6% and total debt rose 60.6%, each against the same quarter a year earlier.
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American Rebel Holdings, Inc. (AREB) Altman Z-score
American Rebel Holdings, Inc.'s Altman Z-score for fiscal 2025 is −6.36, 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 | −6.36 | (1,592,203.71) |
| FY2022 | 1592197.35 | (102,455,290.56) |
| FY2021 | 104047487.91 | 27,342,058.00 |
| FY2020 | 76705429.91 | (11,818,499,023.33) |
| FY2019 | 11895204453.24 | (44,899,167,738.33) |
| FY2018 | 56794372191.57 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.64) | — | −0.77 | |
| Retained earnings / total assets | (3.12) | — | −4.37 | |
| EBIT / total assets | (0.46) | — | −1.53 | |
| Market value of equity / total liabilities | 0.03 | — | 0.02 | |
| Sales / total assets | 0.30 | — | 0.30 | |
| Altman Z-score | Distress zone | −6.36 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −17.32 | ||
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 |
|---|---|
| FMFC Kandal M Venture Limited compare | 56.9× |
| FWDI Forward Industries, Inc. compare | 21.5× |
| WEYS Weyco Group, Inc. compare | 4.7× |
| WWW Wolverine World Wide, Inc. compare | 3.0× |
| RCKY Rocky Brands, Inc. compare | 2.8× |
| VRA Vera Bradley, Inc. compare | 2.5× |
| DBI Designer Brands Inc. compare | 1.8× |
| FOSL Fossil Group, Inc. compare | 1.5× |
| AREB American Rebel Holdings, Inc. | −6.4× |
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