Circle8 Group, Inc.
CIRC Industrials Staffing & Employment Services
Circle8 Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $435.9 million, down 1.52% from fiscal 2024. In the quarter to June 2026, revenue grew 210.8%, EPS fell 390.0%, free cash flow grew 59.3% and total debt rose 337.1%, each against the same quarter a year earlier.
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Circle8 Group, Inc. (CIRC) Altman Z-score
Circle8 Group, Inc.'s Altman Z-score for fiscal 2025 is −0.08, 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 | −0.08 | (2.32) |
| FY2024 | 2.24 | 0.24 |
| FY2023 | 1.99 | 5.29 |
| FY2022 | −3.30 | (4.70) |
| FY2021 | 1.40 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.30) | — | −0.36 | |
| Retained earnings / total assets | (1.72) | — | −2.41 | |
| EBIT / total assets | (0.44) | — | −1.46 | |
| Market value of equity / total liabilities | 0.50 | — | 0.30 | |
| Sales / total assets | 3.85 | — | 3.85 | |
| Altman Z-score | Distress zone | −0.08 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −10.78 | ||
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 |
|---|---|
| HQI HireQuest, Inc. compare | 5.9× |
| MHH Mastech Digital, Inc compare | 5.1× |
| BGSF BGSF, Inc. compare | 4.3× |
| TBI TrueBlue, Inc. compare | 3.5× |
| KELYA Kelly Services, Inc. compare | 2.8× |
| GLXG Galaxy Payroll Group Limited compare | 2.3× |
| JOB GEE Group Inc. compare | 0.7× |
| CIRC Circle8 Group, Inc. | −0.1× |
| NIXX Nixxy, Inc. compare | −5.6× |
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