Cerus Corporation
CERS Healthcare Medical Devices
In the quarter to June 2026, revenue grew 5.28%, EPS grew 50.3%, free cash flow fell 20.9% and total debt fell 23.5%, each against the same quarter a year earlier.
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Cerus Corporation (CERS) Altman Z-score
Cerus Corporation's Altman Z-score for fiscal 2025 is −4.00, 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 | −4.00 | 0.95 |
| FY2024 | −4.94 | (0.08) |
| FY2023 | −4.87 | (1.63) |
| FY2022 | −3.24 | (2.70) |
| FY2021 | −0.54 | (0.89) |
| FY2020 | 0.35 | 4.47 |
| FY2019 | −4.12 | (2.57) |
| FY2018 | −1.55 | 5.62 |
| FY2017 | −7.17 | (3.25) |
| FY2016 | −3.92 | (5.81) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.33 | — | 0.40 | |
| Retained earnings / total assets | (4.87) | — | −6.82 | |
| EBIT / total assets | (0.04) | — | −0.13 | |
| Market value of equity / total liabilities | 2.50 | — | 1.50 | |
| Sales / total assets | 1.05 | — | 1.05 | |
| Altman Z-score | Distress zone | −4.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −13.54 | ||
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 |
|---|---|
| SSII SS Innovations International, Inc. compare | 17.5× |
| DCTH Delcath Systems, Inc. compare | 13.3× |
| TCMD Tactile Systems Technology, Inc. compare | 9.6× |
| BWAY Brainsway Ltd. Sponsored ADR compare | 2.8× |
| MASS 908 Devices Inc. compare | 1.1× |
| SGHT Sight Sciences, Inc. compare | 0.8× |
| NPCE NeuroPace, Inc. compare | −2.5× |
| CERS Cerus Corporation | −4.0× |
| SENS Senseonics Holdings, Inc. compare | −9.8× |
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