CoreCivic, Inc.
CXW Industrials Security & Protection Services
CoreCivic, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 12.7% from fiscal 2024. In the quarter to June 2026, revenue grew 27.3%, EPS grew 8.57%, free cash flow grew 55.3% and total debt rose 32.0%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three.
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CoreCivic, Inc. (CXW) Altman Z-score
CoreCivic, Inc.'s Altman Z-score for fiscal 2025 is 1.60, 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 | 1.60 | (0.24) |
| FY2024 | 1.84 | 0.51 |
| FY2023 | 1.33 | 0.27 |
| FY2022 | 1.05 | 0.11 |
| FY2021 | 0.95 | 0.12 |
| FY2020 | 0.83 | (0.31) |
| FY2019 | 1.14 | (0.01) |
| FY2018 | 1.15 | (0.40) |
| FY2017 | 1.54 | (0.14) |
| FY2016 | 1.69 | 0.01 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.07 | — | 0.09 | |
| Retained earnings / total assets | (0.04) | — | −0.05 | |
| EBIT / total assets | 0.07 | — | 0.22 | |
| Market value of equity / total liabilities | 1.10 | — | 0.66 | |
| Sales / total assets | 0.68 | — | 0.68 | |
| Altman Z-score | Distress zone | 1.60 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.61 | ||
Z and Z″ put CoreCivic, Inc. 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 |
|---|---|
| NSSC NAPCO Security Technologies, Inc. compare | 20.7× |
| BRC Brady Corporation compare | 8.1× |
| MSA MSA Safety Incorporporated compare | 5.5× |
| ALLE Allegion PLC compare | 4.7× |
| EVLV Evolv Technologies Holdings, Inc. compare | 2.2× |
| GEO Geo Group Inc (The) compare | 1.7× |
| BCO Brink's Company (The) compare | 1.6× |
| CXW CoreCivic, Inc. | 1.6× |
| ADT ADT Inc. compare | 0.7× |
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