Bicycle Therapeutics PLC Sponsored ADR
BCYC Healthcare Biotechnology
Bicycle Therapeutics PLC Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $72.6 million, up 105.8% from fiscal 2024. In the quarter to June 2026, revenue fell 78.5%, EPS grew 36.8% and free cash flow grew 32.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Bicycle Therapeutics PLC Sponsored ADR (BCYC) Altman Z-score
Bicycle Therapeutics PLC Sponsored ADR's Altman Z-score for fiscal 2025 is 0.99, 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 | 0.99 | (1.39) |
| FY2024 | 2.38 | 1.88 |
| FY2023 | 0.50 | (2.16) |
| FY2022 | 2.66 | (4.19) |
| FY2021 | 6.85 | 5.04 |
| FY2020 | 1.81 | (0.97) |
| FY2019 | 2.78 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.87 | — | 1.05 | |
| Retained earnings / total assets | (1.25) | — | −1.76 | |
| EBIT / total assets | (0.34) | — | −1.14 | |
| Market value of equity / total liabilities | 4.56 | — | 2.73 | |
| Sales / total assets | 0.10 | — | 0.10 | |
| Altman Z-score | Distress zone | 0.99 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.27 | ||
Z and Z″ put Bicycle Therapeutics PLC Sponsored ADR in different zones: distress zone by Z, safe zone by Z″.
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 |
|---|---|
| UPB Upstream Bio, Inc. compare | 61.0× |
| ACOG Alpha Cognition Inc. compare | 2.5× |
| TRDA Entrada Therapeutics, Inc. compare | 2.2× |
| ORMP Oramed Pharmaceuticals Inc. compare | 1.9× |
| BCYC Bicycle Therapeutics PLC Sponsored ADR | 1.0× |
| YARW Yarrow Bioscience, Inc compare | −31.1× |
| ELDN Eledon Pharmaceuticals, Inc. compare | — |
| SION Sionna Therapeutics, Inc. compare | — |
| PEPG PepGen, 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