Benitec Biopharma Limited
BNTC Healthcare Biotechnology
In the quarter to June 2026, EPS fell 11.3%, free cash flow grew 38.9% and total debt fell 46.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Benitec Biopharma Limited (BNTC) Altman Z-score
Benitec Biopharma Limited's Altman Z-score for fiscal 2023 is −66.02, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −66.02 | (23.70) |
| FY2022 | −42.32 | (40.78) |
| FY2021 | −1.54 | 13.88 |
| FY2020 | −15.42 | (11.77) |
| FY2019 | −3.65 | 0.26 |
| FY2018 | −3.92 | (7.48) |
| FY2017 | 3.56 | 7.99 |
| FY2016 | −4.42 | (25.41) |
| FY2015 | 20.98 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.06) | — | −0.07 | |
| Retained earnings / total assets | (37.61) | — | −52.65 | |
| EBIT / total assets | (4.27) | — | −14.11 | |
| Market value of equity / total liabilities | 1.32 | — | 0.79 | |
| Sales / total assets | 0.02 | — | 0.02 | |
| Altman Z-score | Distress zone | −66.02 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −151.65 | ||
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 |
|---|---|
| FULC Fulcrum Therapeutics, Inc. compare | 8.2× |
| ARTV Artiva Biotherapeutics, Inc. compare | 1.3× |
| ARCT Arcturus Therapeutics Holdings Inc. compare | −0.6× |
| SRZN Surrozen, Inc. compare | −7.5× |
| OCGN Ocugen, Inc. compare | −13.4× |
| AGEN Agenus Inc. compare | −14.2× |
| BNTC Benitec Biopharma Limited | −66.0× |
| CTNM Contineum Therapeutics, Inc. compare | — |
| NAUT Nautilus Biotechnology, 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