Cemtrex Inc.
CETX Technology Software Infrastructure
Cemtrex Inc.’s revenue for fiscal 2025 (year ended September 2025) was $76.5 million, up 14.4% from fiscal 2024. In the quarter to June 2026, revenue grew 8.69%, EPS grew 98.8%, free cash flow fell 112.8% and total debt fell 7.38%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Cemtrex Inc. (CETX) Altman Z-score
Cemtrex Inc.'s Altman Z-score for fiscal 2025 is −1.13, 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 | −1.13 | (1.71) |
| FY2024 | 0.58 | (31,668.78) |
| FY2022 | 31669.36 | (4,906,795.97) |
| FY2021 | 4938465.33 | 2,731,544.34 |
| FY2020 | 2206921.00 | 1,303,805.85 |
| FY2019 | 903115.15 | (2,641,249.92) |
| FY2018 | 3544365.06 | (47,256,343.42) |
| FY2017 | 50800708.48 | 6,948,981.97 |
| FY2016 | 43851726.51 | (36,715,275.37) |
| FY2015 | 80567001.89 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.11 | — | 0.13 | |
| Retained earnings / total assets | (2.08) | — | −2.91 | |
| EBIT / total assets | 0.01 | — | 0.04 | |
| Market value of equity / total liabilities | 0.02 | — | 0.01 | |
| Sales / total assets | 1.60 | — | 1.60 | |
| Altman Z-score | Distress zone | −1.13 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −5.76 | ||
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 |
|---|---|
| YYAI AiRWA Inc. compare | 0.4× |
| CSAI Cloudastructure Inc. compare | −0.7× |
| CETX Cemtrex Inc. | −1.1× |
| TAOP Taoping Inc. compare | −7.4× |
| SONM DNA X, Inc. compare | −8.9× |
| AUID authID Inc. compare | −27.1× |
| MARK Remark Holdings, Inc. compare | −66.8× |
| CYAB Cyabra, Inc. compare | — |
| FAASF DigiAsia Corp. 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