Currenc Group Inc.
CURR Technology Software Application
Currenc Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $37.8 million, down 18.6% from fiscal 2024. In the quarter to December 2025, revenue fell 21.8%, EPS grew 61.6%, free cash flow grew 36.1% and total debt fell 25.2%, each against the same quarter a year earlier.
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Currenc Group Inc. (CURR) Altman Z-score
Currenc Group Inc.'s Altman Z-score for fiscal 2025 is −0.93, 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 | −0.93 | 1.63 |
| FY2024 | −2.56 | (2.56) |
| FY2023 | −0.00 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.09 | — | 0.11 | |
| Retained earnings / total assets | (1.31) | — | −1.84 | |
| EBIT / total assets | (0.07) | — | −0.23 | |
| Market value of equity / total liabilities | 1.15 | — | 0.69 | |
| Sales / total assets | 0.33 | — | 0.33 | |
| Altman Z-score | Distress zone | −0.93 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.93 | ||
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 |
|---|---|
| PLTS Platinum Analytics Cayman Limited compare | 136× |
| LAW CS Disco, Inc. compare | 4.3× |
| HKD AMTD Digital Inc. Sponsored ADR compare | 2.2× |
| API Agora, Inc. Sponsored ADR compare | 1.0× |
| GLOO Gloo Holdings, Inc. compare | −0.4× |
| EGHT 8x8 Inc compare | −0.4× |
| RBBN Ribbon Communications Inc. compare | −0.5× |
| CMRC Commerce.com, Inc. compare | −0.8× |
| CURR Currenc Group Inc. | −0.9× |
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