Fair Isaac Corporation
FICO Technology Software Application
Fair Isaac Corporation’s revenue for fiscal 2025 (year ended September 2025) was $2.0 billion, up 15.9% from fiscal 2024. In the quarter to June 2026, revenue grew 25.7%, EPS grew 39.7%, free cash flow grew 34.1% and total debt rose 100.8%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.
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Fair Isaac Corporation (FICO) Altman Z-score
Fair Isaac Corporation's Altman Z-score for fiscal 2025 is 12.04, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 12.04 | (4.45) |
| FY2024 | 16.49 | 5.27 |
| FY2023 | 11.22 | 3.15 |
| FY2022 | 8.07 | (0.23) |
| FY2021 | 8.29 | (0.94) |
| FY2020 | 9.23 | 1.34 |
| FY2019 | 7.89 | 1.01 |
| FY2018 | 6.88 | 0.75 |
| FY2017 | 6.13 | 0.23 |
| FY2016 | 5.90 | 1.24 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.08) | — | −0.09 | |
| Retained earnings / total assets | 2.44 | — | 3.41 | |
| EBIT / total assets | 0.50 | — | 1.63 | |
| Market value of equity / total liabilities | 10.04 | — | 6.02 | |
| Sales / total assets | 1.07 | — | 1.07 | |
| Altman Z-score | Safe zone | 12.04 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 10.26 | ||
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 |
|---|---|
| MANH Manhattan Associates, Inc. compare | 15.1× |
| FICO Fair Isaac Corporation | 12.0× |
| FIG Figma, Inc. compare | 7.4× |
| TYL Tyler Technologies, Inc. compare | 7.2× |
| GWRE Guidewire Software, Inc. compare | 6.0× |
| DT Dynatrace, Inc. compare | 4.6× |
| DOCU Docusign Inc. compare | 3.0× |
| SSNC SS&C Technologies Holdings, Inc. compare | 1.8× |
| GRAB Grab Holdings Limited compare | 0.9× |
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
More on FICO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement