Castle Biosciences, Inc.
CSTL Healthcare Diagnostics & Research
Castle Biosciences, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $344.2 million, up 3.66% from fiscal 2024. In the quarter to June 2026, revenue grew 20.1%, EPS fell 143.8%, free cash flow fell 43.3% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Castle Biosciences, Inc. (CSTL) Altman Z-score
Castle Biosciences, Inc.'s Altman Z-score for fiscal 2025 is 6.70, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 6.70 | (0.05) |
| FY2024 | 6.74 | 1.18 |
| FY2023 | 5.56 | (2.03) |
| FY2022 | 7.59 | (5.62) |
| FY2021 | 13.21 | (20.07) |
| FY2020 | 33.28 | 27.12 |
| FY2019 | 6.15 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.51 | — | 0.61 | |
| Retained earnings / total assets | (0.39) | — | −0.54 | |
| EBIT / total assets | (0.07) | — | −0.24 | |
| Market value of equity / total liabilities | 10.47 | — | 6.28 | |
| Sales / total assets | 0.59 | — | 0.59 | |
| Altman Z-score | Safe zone | 6.70 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.15 | ||
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 |
|---|---|
| VCYT Veracyte, Inc. compare | 21.1× |
| WGS GeneDx Holdings Corp. compare | 7.8× |
| CSTL Castle Biosciences, Inc. | 6.7× |
| FLGT Fulgent Genetics, Inc. compare | 5.6× |
| CDNA CareDx, Inc. compare | 4.1× |
| PSNL Personalis, Inc. compare | 3.4× |
| NEO NeoGenomics, Inc. compare | 1.8× |
| OPK OPKO Health, Inc. compare | −0.4× |
| MYGN Myriad Genetics, Inc. compare | −1.5× |
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