Journey Medical Corporation
DERM Healthcare Drug Manufacturers Specialty & Generic
Journey Medical Corporation’s revenue for fiscal 2025 (year ended December 2025) was $61.9 million, up 10.2% from fiscal 2024. In the quarter to June 2026, revenue grew 23.3%, EPS grew 93.8%, free cash flow fell 84.1% and total debt rose 1.43%, each against the same quarter a year earlier.
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Journey Medical Corporation (DERM) Altman Z-score
Journey Medical Corporation's Altman Z-score for fiscal 2025 is 1.09, 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 | 1.09 | 1.48 |
| FY2024 | −0.39 | (1.36) |
| FY2023 | 0.97 | 1.69 |
| FY2022 | −0.72 | (0.63) |
| FY2021 | −0.09 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.31 | — | 0.37 | |
| Retained earnings / total assets | (1.04) | — | −1.46 | |
| EBIT / total assets | (0.09) | — | −0.29 | |
| Market value of equity / total liabilities | 3.01 | — | 1.81 | |
| Sales / total assets | 0.65 | — | 0.65 | |
| Altman Z-score | Distress zone | 1.09 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.40 | ||
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 |
|---|---|
| BGM BGM Group Ltd. compare | 498× |
| CRDL Cardiol Therapeutics Inc. compare | 3.4× |
| ORGO Organogenesis compare | 3.0× |
| DERM Journey Medical Corporation | 1.1× |
| CPIX Cumberland Pharmaceuticals Inc. compare | 0.7× |
| OGI Organigram Global Inc. compare | 0.2× |
| PROCF Sofgen Pharma S.A compare | −1.4× |
| AKBA Akebia Therapeutics, Inc. compare | −4.4× |
| CLVR Clever Leaves Holdings Inc. compare | −9.4× |
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