Biorestorative Therapies, Inc.
BRTX Healthcare Biotechnology
Biorestorative Therapies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $359,700.00, down 10.3% from fiscal 2024. In the quarter to March 2026, revenue fell 7.20%, EPS grew 81.3% and free cash flow fell 35.3%, each against the same quarter a year earlier.
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Biorestorative Therapies, Inc. (BRTX) Altman Z-score
Biorestorative Therapies, Inc.'s Altman Z-score for fiscal 2025 is −70.97, 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 | −70.97 | (50.96) |
| FY2024 | −20.01 | (0.67) |
| FY2023 | −19.34 | (4.10) |
| FY2022 | −15.24 | (4.32) |
| FY2021 | −10.92 | 19.44 |
| FY2020 | −30.36 | 74.72 |
| FY2019 | −105.08 | 0.16 |
| FY2018 | −105.23 | (43.40) |
| FY2017 | −61.83 | (4.15) |
| FY2016 | −57.68 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.14) | — | −0.17 | |
| Retained earnings / total assets | (41.65) | — | −58.31 | |
| EBIT / total assets | (3.84) | — | −12.66 | |
| Market value of equity / total liabilities | 0.14 | — | 0.09 | |
| Sales / total assets | 0.09 | — | 0.09 | |
| Altman Z-score | Distress zone | −70.97 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −162.40 | ||
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 |
|---|---|
| PPBT Purple Biotech Ltd. Sponsored ADR compare | 5.5× |
| SILO Silo Pharma, Inc. compare | −3.1× |
| VRAX Virax Biolabs Group Limited compare | −5.3× |
| CLSDQ Clearside Biomedical, Inc. compare | −22.1× |
| TRVN Trevena, Inc. compare | −22.1× |
| OGEN Oragenics, Inc. compare | −67.3× |
| BRTX Biorestorative Therapies, Inc. | −71.0× |
| GNPX GENPREX compare | — |
| KAPA Kairos Pharma, Ltd. 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