Aya Gold & Silver Inc.
AYA
Aya Gold & Silver Inc.’s revenue for fiscal 2025 (year ended December 2025) was $202.1 million, up 416.7% from fiscal 2024. In the quarter to June 2026, revenue grew 150.7%, EPS grew 267.5%, free cash flow grew 739.1% and total debt fell 12.4%, each against the same quarter a year earlier.
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Aya Gold & Silver Inc. (AYA) Altman Z-score
Aya Gold & Silver Inc.'s Altman Z-score for fiscal 2025 is 6.45, 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 | 6.45 | 3.08 |
| FY2024 | 3.37 | (1.51) |
| FY2023 | 4.88 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.18 | — | 0.21 | |
| Retained earnings / total assets | (0.07) | — | −0.10 | |
| EBIT / total assets | 0.10 | — | 0.33 | |
| Market value of equity / total liabilities | 9.48 | — | 5.69 | |
| Sales / total assets | 0.32 | — | 0.32 | |
| Altman Z-score | Safe zone | 6.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.74 | ||
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.
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