BlackSky Technology Inc.
BKSY Industrials Specialty Business Services
BlackSky Technology Inc.’s revenue for fiscal 2025 (year ended December 2025) was $106.6 million, up 4.39% from fiscal 2024. In the quarter to June 2026, revenue grew 50.1%, EPS grew 57.5%, free cash flow grew 36.3% and total debt rose 72.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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BlackSky Technology Inc. (BKSY) Altman Z-score
BlackSky Technology Inc.'s Altman Z-score for fiscal 2025 is −1.00, 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 | −1.00 | 1.54 |
| FY2024 | −2.54 | 0.46 |
| FY2023 | −3.00 | (0.08) |
| FY2022 | −2.92 | (1.70) |
| FY2021 | −1.21 | 1.38 |
| FY2020 | −2.59 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.38 | — | 0.46 | |
| Retained earnings / total assets | (1.88) | — | −2.63 | |
| EBIT / total assets | (0.12) | — | −0.40 | |
| Market value of equity / total liabilities | 2.16 | — | 1.30 | |
| Sales / total assets | 0.28 | — | 0.28 | |
| Altman Z-score | Distress zone | −1.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −4.10 | ||
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 |
|---|---|
| RHLD Resolute Holdings Management, Inc. compare | 7.7× |
| TRNS Transcat, Inc. compare | 3.5× |
| QUAD Quad Graphics, Inc compare | 1.6× |
| LZ LegalZoom.com, Inc. compare | 1.5× |
| BV BrightView Holdings, Inc. compare | 1.3× |
| BKSY BlackSky Technology Inc. | −1.0× |
| KODK Eastman Kodak Company compare | — |
| CASS Cass Information Systems, Inc compare | — |
| BUUU BUUU 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