Big Sky Industrial Inc.
BSIN Energy Oil & Gas E&P
Big Sky Industrial Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.4 million, down 64.3% from fiscal 2024. In the quarter to June 2026, revenue grew 5.23%, EPS grew 79.0% and free cash flow fell 76.1%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Big Sky Industrial Inc. (BSIN) Altman Z-score
Big Sky Industrial Inc.'s Altman Z-score for fiscal 2025 is −7.27, 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 | −7.27 | (1.38) |
| FY2024 | −5.89 | (2.26) |
| FY2023 | −3.62 | (3.28) |
| FY2022 | −0.34 | 8.01 |
| FY2021 | −8.36 | 6.89 |
| FY2020 | −15.24 | (3.46) |
| FY2019 | −11.78 | (1.71) |
| FY2018 | −10.07 | (0.32) |
| FY2017 | −9.75 | 2.75 |
| FY2016 | −12.50 | (1.09) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.10) | — | −0.12 | |
| Retained earnings / total assets | (5.22) | — | −7.30 | |
| EBIT / total assets | (0.35) | — | −1.17 | |
| Market value of equity / total liabilities | 1.89 | — | 1.14 | |
| Sales / total assets | 0.18 | — | 0.18 | |
| Altman Z-score | Distress zone | −7.27 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −18.48 | ||
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 |
|---|---|
| NRT North European Oil Royality Trust compare | 21.1× |
| INDO Indonesia Energy Corporation Limited compare | 4.9× |
| PROP Prairie Operating Co. compare | 0.4× |
| BATL Battalion Oil Corporation compare | −0.5× |
| EP Empire Petroleum Corporation compare | −5.7× |
| BSIN Big Sky Industrial Inc. | −7.3× |
| VOC VOC Energy Trust compare | — |
| CRT Cross Timbers Royalty Trust compare | — |
| PVL PERMIANVILLE ROYALTY TRUST 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