Braze, Inc.
BRZE Technology Software Application
Braze, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $738.2 million, up 24.4% from fiscal 2025. In the quarter to July 2026, revenue grew 26.2%, EPS grew 34.6% and free cash flow grew 515.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Braze, Inc. (BRZE) Altman Z-score
Braze, Inc.'s Altman Z-score for fiscal 2026 is 2.24, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.24 | (4.59) |
| FY2025 | 6.83 | (1.46) |
| FY2024 | 8.30 | 1.54 |
| FY2023 | 6.75 | 0.07 |
| FY2022 | 6.69 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.13 | — | 0.16 | |
| Retained earnings / total assets | (0.64) | — | −0.90 | |
| EBIT / total assets | (0.13) | — | −0.43 | |
| Market value of equity / total liabilities | 4.58 | — | 2.75 | |
| Sales / total assets | 0.66 | — | 0.66 | |
| Altman Z-score | Grey zone | 2.24 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.77 | ||
Z and Z″ put Braze, Inc. in different zones: grey 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 |
|---|---|
| SPSC SPS Commerce, Inc. compare | 12.0× |
| AGYS Agilysys, Inc. compare | 9.4× |
| LIF Life360, Inc. compare | 8.2× |
| SRAD Sportradar Group AG compare | 2.3× |
| BRZE Braze, Inc. | 2.2× |
| INTA Intapp, Inc. compare | 1.7× |
| FRSH Freshworks Inc. compare | 1.6× |
| NATL NCR Atleos Corporation compare | 1.4× |
| BULL Webull Corporation compare | 0.3× |
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