Actelis Networks, Inc.
ASNS Technology Communication Equipment
Actelis Networks, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.7 million, down 52.7% from fiscal 2024. In the quarter to June 2026, revenue grew 20.3%, EPS grew 97.6%, free cash flow fell 69.7% and total debt fell 34.6%, each against the same quarter a year earlier.
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Actelis Networks, Inc. (ASNS) Altman Z-score
Actelis Networks, Inc.'s Altman Z-score for fiscal 2025 is −9.06, 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 | −9.06 | (2.12) |
| FY2024 | −6.94 | (0.36) |
| FY2023 | −6.58 | (3.33) |
| FY2022 | −3.25 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.54 | — | 0.64 | |
| Retained earnings / total assets | (5.49) | — | −7.69 | |
| EBIT / total assets | (0.75) | — | −2.49 | |
| Market value of equity / total liabilities | 0.15 | — | 0.09 | |
| Sales / total assets | 0.39 | — | 0.39 | |
| Altman Z-score | Distress zone | −9.06 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −18.39 | ||
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 |
|---|---|
| FKWL Franklin Wireless Corp. compare | 3.0× |
| CLRO ClearOne, Inc. compare | 2.5× |
| MITQ Moving iMage Technologies, Inc. compare | 2.1× |
| CMBMF Cambium Networks Corporation compare | −1.8× |
| DZSIQ DZS Inc. compare | −1.9× |
| SYNX Silynxcom Ltd. compare | −2.6× |
| ASNS Actelis Networks, Inc. | −9.1× |
| VISL Vislink Technologies, Inc. compare | −26.1× |
| UTSI UTStarcom Holdings Corp compare | −30.6× |
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