Denison Mine Corp
In the quarter to June 2026, revenue fell 43.6%, EPS grew 100.0% and free cash flow fell 70.0%, each against the same quarter a year earlier.
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Denison Mine Corp (DNN) Altman Z-score
Denison Mine Corp's Altman Z-score for fiscal 2025 is 1.32, 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 | 1.32 | (9.21) |
| FY2024 | 10.53 | (2.35) |
| FY2023 | 12.88 | 6.62 |
| FY2022 | 6.26 | 2.10 |
| FY2021 | 4.16 | 5.73 |
| FY2020 | −1.56 | 2.00 |
| FY2019 | −3.56 | (0.26) |
| FY2018 | −3.30 | (0.42) |
| FY2017 | −2.89 | (0.19) |
| FY2016 | −2.70 | 0.33 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.46 | — | 0.55 | |
| Retained earnings / total assets | (1.26) | — | −1.76 | |
| EBIT / total assets | (0.06) | — | −0.18 | |
| Market value of equity / total liabilities | 4.52 | — | 2.71 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | 1.32 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.94 | ||
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 |
|---|---|
| UEC Uranium Energy Corp. compare | 20.2× |
| UROY Uranium Royalty Corp. compare | 7.4× |
| UUUU Energy Fuels Inc compare | 2.8× |
| LEU Centrus Energy Corp. compare | 2.8× |
| DNN Denison Mine Corp | 1.3× |
| EU enCore Energy Corp. compare | 0.8× |
| NXE NexGen Energy compare | — |
| ISOU IsoEnergy Ltd. compare | — |
| NUCL Eagle Nuclear Energy Corp. 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