Boqii Holding Limited Sponsored ADR
BQ Consumer Cyclical Specialty Retail
Boqii Holding Limited Sponsored ADR’s revenue for fiscal 2026 (year ended March 2026) was $61.0 million, down 5.66% from fiscal 2025.
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Boqii Holding Limited Sponsored ADR (BQ) Altman Z-score
Boqii Holding Limited Sponsored ADR's Altman Z-score for fiscal 2026 is −16.08, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −16.08 | (3.94) |
| FY2025 | −12.14 | (2.99) |
| FY2024 | −9.15 | (3.47) |
| FY2023 | −5.67 | (2.10) |
| FY2022 | −3.57 | (2.81) |
| FY2021 | −0.76 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.55 | — | 0.67 | |
| Retained earnings / total assets | (12.91) | — | −18.07 | |
| EBIT / total assets | (0.12) | — | −0.41 | |
| Market value of equity / total liabilities | 0.00 | — | 0.00 | |
| Sales / total assets | 1.74 | — | 1.74 | |
| Altman Z-score | Distress zone | −16.08 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −36.23 | ||
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 |
|---|---|
| CGTL Creative Global Technology Holdings Limited compare | 30.5× |
| RECT Rectitude Holdings Ltd. compare | 3.0× |
| TKLF Tokyo Lifestyle Co., Ltd. compare | 2.1× |
| CONNQ Conn's, Inc. compare | 1.0× |
| LESLQ Leslie's, Inc. compare | 0.2× |
| POLCQ Polished.com Inc. compare | −0.1× |
| TCSGQ Container Store (The) compare | −0.4× |
| BQ Boqii Holding Limited Sponsored ADR | −16.1× |
| NVVE Nuvve Holding Corp. compare | −21.5× |
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