Bollinger Innovations Inc.
BINI Consumer Cyclical Auto Manufacturers
Bollinger Innovations Inc.’s revenue for fiscal 2024 (year ended September 2024) was $1.1 million, up 199.0% from fiscal 2023. In the quarter to June 2025, revenue grew 626.5%, EPS grew 99.7% and free cash flow grew 44.6%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Bollinger Innovations Inc. (BINI) Altman Z-score
Bollinger Innovations Inc.'s Altman Z-score for fiscal 2024 is 479888.45, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | 479888.45 | (16,112,042.89) |
| FY2023 | 16591931.34 | (512,997,559,875,644.94) |
| FY2020 | 512997576467576.31 | 374,702,388,425,814.75 |
| FY2019 | 138295188041761.59 | (122,679,231,743,362.60) |
| FY2018 | 260974419785124.19 | 29,811,682,295,236.69 |
| FY2017 | 231162737489887.50 | 127,362,505,883,334.00 |
| FY2016 | 103800231606553.50 | (73,422,118,476,537.60) |
| FY2015 | 177222350083091.09 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.67) | — | −0.81 | |
| Retained earnings / total assets | (12.98) | — | −18.18 | |
| EBIT / total assets | (2.19) | — | −7.24 | |
| Market value of equity / total liabilities | 799,857.77 | — | 479914.66 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Safe zone | 479888.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −61.56 | ||
Z and Z″ put Bollinger Innovations Inc. in different zones: safe zone by Z, distress 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 |
|---|---|
| BINI Bollinger Innovations Inc. | 479,888× |
| GOEVQ Canoo Inc. compare | 1.1× |
| ECDA ECD Automotive Design, Inc. compare | −1.0× |
| VEVMQ Vicinity Motor Corp. compare | −1.0× |
| FFAI Faraday Future Intelligent Electric Inc. compare | −27.7× |
| SSM Sono Group N.V. compare | −326× |
| DCX Digital Currency X Technology Inc. compare | — |
| EGOXF Next.e.GO N.V. compare | — |
| ZAPPF Zapp Electric Vehicles Group Limited 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