BrightView Holdings, Inc.
BV Industrials Specialty Business Services
BrightView Holdings, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $2.7 billion, down 3.41% from fiscal 2024. In the quarter to June 2026, revenue grew 1.31%, EPS fell 118.8%, free cash flow grew 69.2% and total debt rose 11.6%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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BrightView Holdings, Inc. (BV) Altman Z-score
BrightView Holdings, Inc.'s Altman Z-score for fiscal 2025 is 1.33, 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 | 1.33 | (0.11) |
| FY2024 | 1.45 | 0.26 |
| FY2023 | 1.19 | 0.02 |
| FY2022 | 1.17 | (0.23) |
| FY2021 | 1.39 | 0.23 |
| FY2020 | 1.16 | (0.47) |
| FY2019 | 1.63 | 0.30 |
| FY2018 | 1.33 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.04 | — | 0.05 | |
| Retained earnings / total assets | 0.00 | — | −0.01 | |
| EBIT / total assets | 0.04 | — | 0.13 | |
| Market value of equity / total liabilities | 0.61 | — | 0.36 | |
| Sales / total assets | 0.79 | — | 0.79 | |
| Altman Z-score | Distress zone | 1.33 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.19 | ||
Z and Z″ put BrightView Holdings, Inc. in different zones: distress zone by Z, grey 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 |
|---|---|
| RHLD Resolute Holdings Management, Inc. compare | 7.7× |
| TH Target Hospitality Corp. compare | 4.5× |
| TRNS Transcat, Inc. compare | 3.5× |
| LZ LegalZoom.com, Inc. compare | 1.5× |
| BV BrightView Holdings, Inc. | 1.3× |
| BKSY BlackSky Technology Inc. compare | −1.0× |
| KODK Eastman Kodak Company compare | — |
| CASS Cass Information Systems, Inc compare | — |
| BUUU BUUU Group Limited 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