stockrowCandel Therapeutics, Inc.
CADL Healthcare Biotechnology
Candel Therapeutics, Inc.’s revenue for fiscal 2022 (year ended December 2022) was $125,000.00.
- EPS
- −477.8%
- Free cash flow
- −93.4%
- Total debt
- +525.8%
Quarter to June 2026, against a year earlier
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Candel Therapeutics, Inc. (CADL) Altman Z-score
Candel Therapeutics, Inc.'s Altman Z-score for fiscal 2022 is −1.20, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2022 | −1.20 | (3.59) |
| FY2021 | 2.39 | — |
How fiscal 2022’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.85 | — | 1.02 | |
| Retained earnings / total assets | (1.28) | — | −1.79 | |
| EBIT / total assets | (0.45) | — | −1.47 | |
| Market value of equity / total liabilities | 1.72 | — | 1.03 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −1.20 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.11 | ||
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 |
|---|---|
| HELP Cybin Inc. compare | 13.0× |
| FDMT 4D Molecular Therapeutics, Inc. compare | 2.5× |
| DBVT DBV Technologies S.A. compare | 1.3× |
| ZVRA Zevra Therapeutics, Inc. compare | 0.6× |
| CADL Candel Therapeutics, Inc. | −1.2× |
| KURA Kura Oncology, Inc. compare | −1.6× |
| GERN Geron Corporation compare | −2.2× |
| DSGN Design Therapeutics, Inc. compare | — |
| AVBP ArriVent BioPharma, 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