ZW Data Action Technologies Inc.
CNET Communication Services Advertising Agencies
ZW Data Action Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.6 million, down 70.1% from fiscal 2024. In the quarter to June 2026, revenue grew 19.0%, EPS grew 63.0%, free cash flow fell 116.4% and total debt rose 4.92%, each against the same quarter a year earlier.
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ZW Data Action Technologies Inc. (CNET) Altman Z-score
ZW Data Action Technologies Inc.'s Altman Z-score for fiscal 2025 is −8.91, 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 | −8.91 | (0.83) |
| FY2024 | −8.08 | (2.80) |
| FY2023 | −5.27 | (2.67) |
| FY2022 | −2.60 | (3.04) |
| FY2021 | 0.44 | (0.16) |
| FY2020 | 0.59 | (1.54) |
| FY2019 | 2.13 | 2.80 |
| FY2018 | −0.67 | (0.98) |
| FY2017 | 0.31 | (0.84) |
| FY2016 | 1.15 | (0.92) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.26 | — | 0.31 | |
| Retained earnings / total assets | (6.74) | — | −9.43 | |
| EBIT / total assets | (0.20) | — | −0.67 | |
| Market value of equity / total liabilities | 0.68 | — | 0.41 | |
| Sales / total assets | 0.48 | — | 0.48 | |
| Altman Z-score | Distress zone | −8.91 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −20.77 | ||
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 |
|---|---|
| CHR Cheer Holding, Inc. compare | 2.4× |
| YDKG Yueda Digital Holding compare | 1.2× |
| WIMI WiMi Hologram Cloud Inc. compare | 0.9× |
| TULP Bloomia Holdings, Inc. compare | −0.2× |
| TDIC Dreamland Limited compare | −2.7× |
| BAOS Baosheng Media Group Holdings Limited compare | −6.6× |
| KRKR 36Kr Holdings Inc. Sponsored ADR compare | −7.8× |
| CNET ZW Data Action Technologies Inc. | −8.9× |
| LKCO Luokung Technology Corp. compare | −23.9× |
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