Espey Mfg. & Electronics Corp.
ESP Industrials Electrical Equipment & Parts
Espey Mfg. & Electronics Corp.’s revenue for fiscal 2026 (year ended June 2026) was $46.1 million, up 4.95% from fiscal 2025. In the quarter to June 2026, revenue grew 40.4%, EPS grew 7.27% and free cash flow fell 199.9%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Espey Mfg. & Electronics Corp. (ESP) Altman Z-score
Espey Mfg. & Electronics Corp.'s Altman Z-score for fiscal 2026 is 5.15, 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 | 5.15 | 0.49 |
| FY2025 | 4.66 | 0.06 |
| FY2024 | 4.59 | (0.06) |
| FY2023 | 4.65 | (0.48) |
| FY2022 | 5.14 | 0.14 |
| FY2021 | 5.00 | (1.05) |
| FY2020 | 6.06 | (6.32) |
| FY2019 | 12.37 | (1.93) |
| FY2018 | 14.31 | 3.01 |
| FY2017 | 11.29 | (9.18) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.56 | — | 0.68 | |
| Retained earnings / total assets | 0.39 | — | 0.55 | |
| EBIT / total assets | 0.12 | — | 0.39 | |
| Market value of equity / total liabilities | 5.10 | — | 3.06 | |
| Sales / total assets | 0.47 | — | 0.47 | |
| Altman Z-score | Safe zone | 5.15 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.51 | ||
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 |
|---|---|
| ESP Espey Mfg. & Electronics Corp. | 5.2× |
| NEOV NeoVolta, Inc. compare | 3.8× |
| ELVA Electrovaya Inc. compare | 3.3× |
| ULBI Ultralife Corporation compare | 1.6× |
| CBAT China BAK Battery, Inc. compare | −0.3× |
| EAF GrafTech International Ltd. compare | −0.5× |
| OESX Orion Energy Systems, Inc. compare | −0.8× |
| SKYX SKYX Platforms Corp. compare | −3.0× |
| LTBR Lightbridge Corporation compare | −13.5× |
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