Clean Energy Technologies, Inc.
CETY Industrials Specialty Industrial Machinery
Clean Energy Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 million, down 10.9% from fiscal 2024. In the quarter to June 2026, revenue grew 57.4%, EPS grew 70.0%, free cash flow fell 8.31% and total debt fell 8.68%, each against the same quarter a year earlier.
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Clean Energy Technologies, Inc. (CETY) Altman Z-score
Clean Energy Technologies, Inc.'s Altman Z-score for fiscal 2025 is −4.15, 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 | −4.15 | (0.44) |
| FY2024 | −3.71 | (6.58) |
| FY2023 | 2.86 | (1.21) |
| FY2022 | 4.07 | 7.81 |
| FY2021 | −3.73 | 2.90 |
| FY2020 | −6.63 | (0.15) |
| FY2019 | −6.48 | 2.79 |
| FY2018 | −9.27 | (1.59) |
| FY2017 | −7.68 | (2.28) |
| FY2016 | −5.40 | (1.61) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.02 | — | 0.03 | |
| Retained earnings / total assets | (2.84) | — | −3.98 | |
| EBIT / total assets | (0.21) | — | −0.68 | |
| Market value of equity / total liabilities | 0.52 | — | 0.31 | |
| Sales / total assets | 0.17 | — | 0.17 | |
| Altman Z-score | Distress zone | −4.15 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.46 | ||
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 |
|---|---|
| CVV CVD Equipment Corporation compare | 5.6× |
| JCSE JE Cleantech Holdings Limited compare | 1.8× |
| WFF WF Holding Limited compare | 1.3× |
| SPPL SIMPPLE LTD. compare | −0.5× |
| XCH XCHG Limited compare | −2.4× |
| CETY Clean Energy Technologies, Inc. | −4.2× |
| OPTT Ocean Power Technologies, Inc. compare | −16.7× |
| VGTK Camber Energy, Inc. compare | −16.9× |
| BURU Nuburu, Inc. compare | −35.9× |
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