Glaukos Corporation
GKOS Healthcare Medical Devices
Glaukos Corporation’s revenue for fiscal 2025 (year ended December 2025) was $507.4 million, up 32.3% from fiscal 2024. In the quarter to June 2026, revenue grew 49.5%, EPS grew 8.82%, free cash flow grew 211.8% and total debt fell 2.15%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Glaukos Corporation (GKOS) Altman Z-score
Glaukos Corporation's Altman Z-score for fiscal 2025 is 15.20, 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 | 15.20 | (7.01) |
| FY2024 | 22.21 | 17.98 |
| FY2023 | 4.23 | 1.79 |
| FY2022 | 2.44 | (0.41) |
| FY2021 | 2.85 | (2.98) |
| FY2020 | 5.83 | (2.64) |
| FY2019 | 8.48 | (27.60) |
| FY2018 | 36.08 | 16.75 |
| FY2017 | 19.33 | (20.18) |
| FY2016 | 39.51 | 28.63 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.42 | — | 0.50 | |
| Retained earnings / total assets | (1.04) | — | −1.46 | |
| EBIT / total assets | (0.22) | — | −0.74 | |
| Market value of equity / total liabilities | 27.21 | — | 16.32 | |
| Sales / total assets | 0.57 | — | 0.57 | |
| Altman Z-score | Safe zone | 15.20 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.74 | ||
Z and Z″ put Glaukos Corporation in different zones: safe zone by Z, distress zone by Z″.
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 |
|---|---|
| PEN Penumbra, Inc. compare | 20.2× |
| GKOS Glaukos Corporation | 15.2× |
| GMED Globus Medical, Inc. compare | 11.3× |
| PODD Insulet Corporation compare | 9.1× |
| SNN Smith & Nephew SNATS, Inc. compare | 3.5× |
| BIO.B Bio-Rad Laboratories, Inc. compare | 3.2× |
| BIO Bio-Rad Laboratories, Inc. compare | 3.2× |
| BRKR Bruker Corporation compare | 2.4× |
| HAE Haemonetics Corporation compare | 2.2× |
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