enCore Energy Corp.
enCore Energy Corp.’s revenue for fiscal 2025 (year ended December 2025) was $43.2 million, down 26.0% from fiscal 2024. In the quarter to June 2026, revenue grew 328.4%, EPS fell 600.0%, free cash flow fell 57.0% and total debt rose 54,582.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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enCore Energy Corp. (EU) Altman Z-score
enCore Energy Corp.'s Altman Z-score for fiscal 2025 is 0.80, 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 | 0.80 | (3.39) |
| FY2024 | 4.20 | (0.40) |
| FY2023 | 4.60 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.22 | — | 0.27 | |
| Retained earnings / total assets | (0.48) | — | −0.68 | |
| EBIT / total assets | (0.15) | — | −0.50 | |
| Market value of equity / total liabilities | 2.69 | — | 1.62 | |
| Sales / total assets | 0.10 | — | 0.10 | |
| Altman Z-score | Distress zone | 0.80 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.44 | ||
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 compare | 1.3× |
| EU enCore Energy Corp. | 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