Cresud S.A.C.I.F. y A.
CRESY Industrials Conglomerates
Cresud S.A.C.I.F. y A.’s revenue for fiscal 2025 (year ended June 2025) was $914.2 million, down 35.7% from fiscal 2024. In the quarter to March 2026, revenue fell 1.49%, EPS fell 69.0%, free cash flow fell 461.4% and total debt rose 21.3%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Cresud S.A.C.I.F. y A. (CRESY) Altman Z-score
Cresud S.A.C.I.F. y A.'s Altman Z-score for fiscal 2025 is 0.53, 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 | 0.53 | 0.35 |
| FY2024 | 0.19 | (0.07) |
| FY2023 | 0.26 | (0.23) |
| FY2022 | 0.49 | 0.29 |
| FY2021 | 0.20 | (0.35) |
| FY2020 | 0.54 | 0.38 |
| FY2019 | 0.17 | (0.46) |
| FY2018 | 0.63 | (0.03) |
| FY2017 | 0.66 | 0.36 |
| FY2016 | 0.30 | (0.69) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.05 | — | 0.06 | |
| Retained earnings / total assets | 0.02 | — | 0.02 | |
| EBIT / total assets | 0.04 | — | 0.14 | |
| Market value of equity / total liabilities | 0.22 | — | 0.13 | |
| Sales / total assets | 0.18 | — | 0.18 | |
| Altman Z-score | Distress zone | 0.53 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.47 | ||
Z and Z″ put Cresud S.A.C.I.F. y A. in different zones: distress zone by Z, grey zone by Z″.
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 |
|---|---|
| FBYD Falcon's Beyond Global, Inc. compare | 6.5× |
| TTI Tetra Technologies, Inc. compare | 3.1× |
| TRC Tejon Ranch Co compare | 2.2× |
| MATW Matthews International Corporation compare | 2.0× |
| DLX Deluxe Corporation compare | 1.5× |
| BOC Boston Omaha Corporation compare | 1.5× |
| CRESY Cresud S.A.C.I.F. y A. | 0.5× |
| CODI Compass Diversified Holdings compare | 0.3× |
| TMS Live Oak Acquisition Corp. V 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