Caribou Biosciences, Inc.
CRBU Healthcare Biotechnology
Caribou Biosciences, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.2 million, up 11.7% from fiscal 2024. In the quarter to June 2026, revenue fell 43.8%, EPS grew 58.6% and free cash flow fell 33.2%, each against the same quarter a year earlier.
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Caribou Biosciences, Inc. (CRBU) Altman Z-score
Caribou Biosciences, Inc.'s Altman Z-score for fiscal 2025 is −5.00, 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 | −5.00 | (3.42) |
| FY2024 | −1.58 | (4.64) |
| FY2023 | 3.06 | 0.82 |
| FY2022 | 2.25 | (3.21) |
| FY2021 | 5.46 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.68 | — | 0.82 | |
| Retained earnings / total assets | (3.40) | — | −4.76 | |
| EBIT / total assets | (0.85) | — | −2.79 | |
| Market value of equity / total liabilities | 2.79 | — | 1.67 | |
| Sales / total assets | 0.06 | — | 0.06 | |
| Altman Z-score | Distress zone | −5.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.88 | ||
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 |
|---|---|
| ACET Adicet Bio, Inc. compare | 5.0× |
| ELTX Elicio Therapeutics, Inc. compare | 0.1× |
| HOWL Werewolf Therapeutics, Inc. compare | −4.8× |
| CRBU Caribou Biosciences, Inc. | −5.0× |
| HYPD Hyperion DeFi, Inc. compare | −8.4× |
| MREO Mereo BioPharma Group plc - Sponsored ADR compare | −9.1× |
| KLRS Kalaris Therapeutics Inc. compare | — |
| LONA LeonaBio, Inc. compare | — |
| INKT MiNK Therapeutics, Inc. 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