stockrowBioAtla, Inc.
BCAB Healthcare Biotechnology
BioAtla, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 million, down 81.8% from fiscal 2024.
- Revenue
- +4,233.3%
- EPS
- +101.7%
- Free cash flow
- +97.0%
Quarter to June 2026, against a year earlier
Follow BCAB
Alert me
BioAtla, Inc. (BCAB) Altman Z-score
BioAtla, Inc.'s Altman Z-score for fiscal 2025 is −70.06, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −70.06 | (53.92) |
| FY2024 | −16.13 | (24.27) |
| FY2021 | 8.13 | 3.12 |
| FY2020 | 5.02 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (1.01) | — | −1.21 | |
| Retained earnings / total assets | (39.46) | — | −55.24 | |
| EBIT / total assets | (4.29) | — | −14.15 | |
| Market value of equity / total liabilities | 0.67 | — | 0.40 | |
| Sales / total assets | 0.14 | — | 0.14 | |
| Altman Z-score | Distress zone | −70.06 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −164.82 | ||
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 |
|---|---|
| DCOY Decoy Therapeutics Inc compare | 4.6× |
| AFMDQ Affimed N.V. compare | −9.2× |
| KALA KALA BIO, Inc. compare | −11.2× |
| JUNS Jupiter Neurosciences, Inc. compare | −11.7× |
| BCAB BioAtla, Inc. | −70.1× |
| ERNA Ernexa Therapeutics Inc. compare | −70.7× |
| ADXN Addex Therapeutics Ltd. Sponsored ADR compare | −78.4× |
| CMND Clearmind Medicine Inc. compare | — |
| MBIO Mustang Bio, 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