Byrna Technologies Inc.
BYRN Industrials Aerospace & Defense
In the quarter to August 2026, revenue fell 45.7%, EPS fell 226.7% and free cash flow grew 87.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Byrna Technologies Inc. (BYRN) Altman Z-score
Byrna Technologies Inc.'s Altman Z-score for fiscal 2025 is 14.99, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 14.99 | (0.86) |
| FY2024 | 15.86 | 9.02 |
| FY2023 | 6.84 | (3.27) |
| FY2022 | 10.11 | (9.03) |
| FY2021 | 19.14 | 13.69 |
| FY2020 | 5.44 | 21.72 |
| FY2019 | −16.28 | 0.10 |
| FY2018 | −16.38 | 2.99 |
| FY2017 | −19.36 | 101.05 |
| FY2016 | −120.41 | (106.70) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.55 | — | 0.66 | |
| Retained earnings / total assets | (0.56) | — | −0.78 | |
| EBIT / total assets | 0.14 | — | 0.46 | |
| Market value of equity / total liabilities | 22.08 | — | 13.25 | |
| Sales / total assets | 1.40 | — | 1.40 | |
| Altman Z-score | Safe zone | 14.99 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.43 | ||
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 |
|---|---|
| SPAI Safe Pro Group Inc. compare | 26.7× |
| BYRN Byrna Technologies Inc. | 15.0× |
| OPXS Optex Systems Holdings Inc. compare | 12.3× |
| CODA Coda Octopus Group Inc. compare | 12.2× |
| AIRO AIRO Group Holdings, Inc. compare | 3.1× |
| SIF SIFCO Industries, Inc. compare | 2.4× |
| SIDU Sidus Space, Inc. compare | 0.4× |
| MRLN Merlin Inc compare | — |
| HOVR New Horizon Aircraft 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