Atomera Incorporated
ATOM Technology Semiconductor Equipment & Materials
Atomera Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $65,000.00, down 51.9% from fiscal 2024. In the quarter to June 2026, revenue grew 3,850.0%, EPS was flat and free cash flow fell 11.3%, each against the same quarter a year earlier.
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Atomera Incorporated (ATOM) Altman Z-score
Atomera Incorporated's Altman Z-score for fiscal 2025 is −3.26, 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 | −3.26 | (38.20) |
| FY2024 | 34.94 | 30.99 |
| FY2023 | 3.95 | 1.39 |
| FY2022 | 2.56 | (25.82) |
| FY2021 | 28.38 | (54.46) |
| FY2020 | 82.84 | 77.16 |
| FY2019 | 5.68 | 2.10 |
| FY2018 | 3.58 | (18.77) |
| FY2017 | 22.34 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.83 | — | 1.00 | |
| Retained earnings / total assets | (11.46) | — | −16.04 | |
| EBIT / total assets | (1.00) | — | −3.30 | |
| Market value of equity / total liabilities | 25.13 | — | 15.08 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −3.26 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −31.49 | ||
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 |
|---|---|
| AEHR Aehr Test Systems compare | 63.2× |
| PLAB Photronics, Inc. compare | 6.1× |
| TRT Trio-Tech International compare | 5.7× |
| ICHR Ichor Holdings, Ltd. compare | 2.8× |
| INTT inTest Corporation compare | 2.6× |
| COHU Cohu, Inc. compare | 2.4× |
| UCTT Ultra Clean Holdings, Inc. compare | 2.3× |
| ASYS Amtech Systems, Inc. compare | 1.2× |
| ATOM Atomera Incorporated | −3.3× |
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