stockrowT3 Defense Inc.
DFNS Industrials Aerospace & Defense
T3 Defense Inc.’s revenue for fiscal 2024 (year ended September 2024) was $5.9 million, down 72.2% from fiscal 2023.
- Revenue
- +1,438.1%
- EPS
- −339.7%
- Free cash flow
- −267.7%
- Total debt
- +685.4%
Quarter to June 2026, against a year earlier
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T3 Defense Inc. (DFNS) Altman Z-score
T3 Defense Inc.'s Altman Z-score for fiscal 2024 is −82.20, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −82.20 | (55.93) |
| FY2023 | −26.27 | (27.78) |
| FY2022 | 1.51 | (2.26) |
| FY2022 | 3.77 | 2.41 |
| FY2021 | 1.36 | (0.46) |
| FY2020 | 1.82 | (30,341.71) |
| FY2019 | 30343.54 | 20,612.60 |
| FY2018 | 9730.94 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (6.20) | — | −7.44 | |
| Retained earnings / total assets | (40.90) | — | −57.26 | |
| EBIT / total assets | (7.21) | — | −23.80 | |
| Market value of equity / total liabilities | 0.50 | — | 0.30 | |
| Sales / total assets | 6.00 | — | 6.00 | |
| Altman Z-score | Distress zone | −82.20 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −223.39 | ||
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 |
|---|---|
| AIRI Air Industries Group compare | −0.5× |
| MOB Mobilicom Limited Sponsored ADR compare | −1.4× |
| XTIA XTI Aerospace, Inc. compare | −4.0× |
| DFSC DEFSEC Technologies Inc. compare | −6.7× |
| PRZO ParaZero Technologies Ltd. compare | −8.9× |
| DUKR DUKE Robotics Corp. compare | −16.4× |
| MNTS Momentus Inc. compare | −17.2× |
| DFNS T3 Defense Inc. | −82.2× |
| VWAV visionwave holdings, inc. 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