Electromed, Inc.
ELMD Healthcare Medical Devices
Electromed, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $73.8 million, up 15.3% from fiscal 2025. In the quarter to June 2026, revenue grew 11.6%, EPS grew 57.7% and free cash flow fell 25.2%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.
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Electromed, Inc. (ELMD) Altman Z-score
Electromed, Inc.'s Altman Z-score for fiscal 2026 is 20.30, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 20.30 | 6.66 |
| FY2025 | 13.64 | 0.66 |
| FY2024 | 12.98 | 3.60 |
| FY2023 | 9.37 | (0.01) |
| FY2022 | 9.39 | (5.66) |
| FY2021 | 15.05 | (13.83) |
| FY2020 | 28.87 | 18.77 |
| FY2019 | 10.10 | 1.99 |
| FY2018 | 8.11 | (1.42) |
| FY2017 | 9.53 | 2.52 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.68 | — | 0.82 | |
| Retained earnings / total assets | 0.43 | — | 0.60 | |
| EBIT / total assets | 0.21 | — | 0.69 | |
| Market value of equity / total liabilities | 28.45 | — | 17.07 | |
| Sales / total assets | 1.11 | — | 1.11 | |
| Altman Z-score | Safe zone | 20.30 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 11.89 | ||
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 |
|---|---|
| ELMD Electromed, Inc. | 20.3× |
| PROF Profound Medical compare | 7.3× |
| RXST RxSight, Inc. compare | 5.0× |
| INFU InfuSystems Holdings, Inc. compare | 3.7× |
| QSI Quantum-Si Incorporated compare | 0.4× |
| TMCI Treace Medical Concepts, Inc. compare | −0.1× |
| CATX Perspective Therapeutics, Inc. compare | −0.6× |
| LAB Standard BioTools Inc. compare | −0.8× |
| TLSI TriSalus Life Sciences, Inc. compare | −11.3× |
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