GreenPower Motor Company Inc.
GP Industrials Farm & Heavy Construction Machinery
GreenPower Motor Company Inc.’s revenue for fiscal 2026 (year ended March 2026) was $16.4 million, down 17.4% from fiscal 2025. In the quarter to June 2026, revenue fell 71.7%, EPS grew 70.0%, free cash flow grew 8.99% and total debt fell 20.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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GreenPower Motor Company Inc. (GP) Altman Z-score
GreenPower Motor Company Inc.'s Altman Z-score for fiscal 2026 is −3.91, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −3.91 | 0.60 |
| FY2025 | −4.51 | (3.00) |
| FY2024 | −1.52 | (1.54) |
| FY2023 | 0.03 | (4.74) |
| FY2022 | 4.77 | (72.86) |
| FY2021 | 77.62 | 79.14 |
| FY2020 | −1.51 | (12.49) |
| FY2019 | 10.98 | (22.53) |
| FY2018 | 33.51 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.29 | — | 0.34 | |
| Retained earnings / total assets | (3.36) | — | −4.70 | |
| EBIT / total assets | (0.05) | — | −0.16 | |
| Market value of equity / total liabilities | 0.12 | — | 0.07 | |
| Sales / total assets | 0.53 | — | 0.53 | |
| Altman Z-score | Distress zone | −3.91 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.34 | ||
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 |
|---|---|
| GENC Gencor Industries Inc. compare | 15.0× |
| SCAG Scage Future - Unsponsored ADR compare | 7.9× |
| ARTW Art's-Way Manufacturing Co., Inc. compare | 2.8× |
| BNC BNB Standard Corporation compare | 1.4× |
| LEVGQ The Lion Electric Company compare | 0.2× |
| GP GreenPower Motor Company Inc. | −3.9× |
| XOS Xos, Inc. compare | −5.6× |
| HCAI Huachen AI Parking Management Technology Holding Co., Ltd compare | −6.7× |
| HYFM Hydrofarm Holdings Group, Inc. compare | −16.7× |
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