Azitra, Inc.
AZTR Healthcare Biotechnology
Azitra, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $7,500.00, down 98.9% from fiscal 2023. In the quarter to June 2026, EPS grew 85.6% and free cash flow fell 19.6%, each against the same quarter a year earlier.
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Azitra, Inc. (AZTR) Altman Z-score
Azitra, Inc.'s Altman Z-score for fiscal 2024 is −14.66, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −14.66 | 1.36 |
| FY2023 | −16.02 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.52 | — | 0.63 | |
| Retained earnings / total assets | (7.82) | — | −10.95 | |
| EBIT / total assets | (1.49) | — | −4.93 | |
| Market value of equity / total liabilities | 0.98 | — | 0.59 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −14.66 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −28.50 | ||
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 |
|---|---|
| OSRH OSR Health, Inc. compare | −0.6× |
| JUNS Jupiter Neurosciences, Inc. compare | −11.7× |
| AZTR Azitra, Inc. | −14.7× |
| ADTX Aditxt, Inc. compare | −22.3× |
| LNAI Lunai Bioworks Inc. compare | −77.0× |
| DRMA Dermata Therapeutics, Inc. compare | — |
| LIMN Liminatus Pharma Inc. compare | — |
| NCNA NuCana PLC Sponsored ADR compare | — |
| ENLV Enlivex Ltd. 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