Black Titan Corporation
BTTC Technology Software Application
In the quarter to January 2026, EPS grew 71.6% and free cash flow fell 474.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Black Titan Corporation (BTTC) Altman Z-score
Black Titan Corporation's Altman Z-score for fiscal 2023 is −67.23, 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 | −67.23 | 71.58 |
| FY2022 | −138.81 | (72.05) |
| FY2021 | −66.76 | (2.87) |
| FY2020 | −63.89 | (11.04) |
| FY2019 | −52.85 | (19.82) |
| FY2018 | −33.03 | 20.53 |
| FY2017 | −53.56 | (41.94) |
| FY2016 | −11.61 | 13.84 |
| FY2015 | −25.45 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.81 | — | 0.98 | |
| Retained earnings / total assets | (48.46) | — | −67.84 | |
| EBIT / total assets | (0.90) | — | −2.97 | |
| Market value of equity / total liabilities | 4.30 | — | 2.58 | |
| Sales / total assets | 0.02 | — | 0.02 | |
| Altman Z-score | Distress zone | −67.23 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −153.86 | ||
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 |
|---|---|
| ORKT Orangekloud Technology Inc. compare | −2.1× |
| NVNIF Nvni Group Limited compare | −3.3× |
| IFBD Infobird Co., Ltd. compare | −11.6× |
| AMST Amesite Inc. compare | −12.6× |
| RCT RedCloud Holdings plc compare | −28.4× |
| BTTC Black Titan Corporation | −67.2× |
| VS Versus Systems Inc. compare | −72.5× |
| LDTCF LeddarTech Holdings Inc. compare | −77.2× |
| AUUD Auddia 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