Avino Silver
ASM Basic Materials Other Precious Metals & Mining
Avino Silver’s revenue for fiscal 2025 (year ended December 2025) was $92.2 million, up 39.4% from fiscal 2024. In the quarter to June 2026, revenue grew 22.9%, EPS grew 200.0%, free cash flow grew 106.4% and total debt rose 106.7%, each against the same quarter a year earlier.
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Avino Silver (ASM) Altman Z-score
Avino Silver's Altman Z-score for fiscal 2025 is 13.33, 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 | 13.33 | 9.71 |
| FY2024 | 3.62 | 2.06 |
| FY2023 | 1.56 | (0.52) |
| FY2022 | 2.08 | (4.18) |
| FY2021 | 6.26 | 0.45 |
| FY2020 | 5.80 | 4.95 |
| FY2019 | 0.85 | (0.08) |
| FY2018 | 0.93 | (0.77) |
| FY2017 | 1.70 | 0.11 |
| FY2016 | 1.59 | 0.84 |
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 | (0.06) | — | −0.08 | |
| EBIT / total assets | 0.13 | — | 0.43 | |
| Market value of equity / total liabilities | 20.38 | — | 12.23 | |
| Sales / total assets | 0.33 | — | 0.33 | |
| Altman Z-score | Safe zone | 13.33 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.48 | ||
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 |
|---|---|
| MTA Metalla Royalty & Streaming Ltd. compare | 22.3× |
| ASM Avino Silver | 13.3× |
| VOXR Vox Royalty Corp. compare | 9.6× |
| ITRG Integra Resources Corp. compare | 4.4× |
| GORO Gold Resource Corporation compare | 3.1× |
| MUX McEwen Inc. compare | 0.3× |
| LODE Comstock Inc. compare | −2.4× |
| PPTA Perpetua Resources Corp. compare | — |
| SLSR Solaris Resources Inc. 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