FatPipe, Inc.
FATN Technology Software Infrastructure
In the quarter to June 2026, revenue grew 27.8%, EPS grew 80.0%, free cash flow fell 24.1% and total debt fell 1.03%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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FatPipe, Inc. (FATN) Altman Z-score
FatPipe, Inc.'s Altman Z-score for fiscal 2026 is 4.16, 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 | 4.16 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.35 | — | 0.42 | |
| Retained earnings / total assets | 0.47 | — | 0.65 | |
| EBIT / total assets | 0.10 | — | 0.34 | |
| Market value of equity / total liabilities | 3.64 | — | 2.18 | |
| Sales / total assets | 0.56 | — | 0.56 | |
| Altman Z-score | Safe zone | 4.16 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.38 | ||
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 |
|---|---|
| ATGL Alpha Technology Group Limited compare | 169× |
| FATN FatPipe, Inc. | 4.2× |
| DAVA Endava PLC Sponsored ADR compare | 3.2× |
| USIO Usio Inc compare | 0.1× |
| AIFC AI Financial Corporation compare | 0.1× |
| AISP Airship AI Holdings, Inc. compare | −0.9× |
| VIVO Vivopower International Plc compare | −2.1× |
| VERI Veritone, Inc. compare | −4.1× |
| AILEQ iLearningEngines, 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