Green Plains, Inc.
GPRE Basic Materials Chemicals
Green Plains, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, down 14.9% from fiscal 2024. In the quarter to June 2026, revenue fell 19.3%, EPS grew 189.0%, free cash flow grew 57.2% and total debt rose 16.1%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
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Green Plains, Inc. (GPRE) Altman Z-score
Green Plains, Inc.'s Altman Z-score for fiscal 2025 is 1.45, 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 | 1.45 | (0.12) |
| FY2024 | 1.56 | (1.01) |
| FY2023 | 2.58 | (0.11) |
| FY2022 | 2.68 | 0.07 |
| FY2021 | 2.62 | 1.13 |
| FY2020 | 1.48 | (0.30) |
| FY2019 | 1.78 | (0.38) |
| FY2018 | 2.16 | 0.42 |
| FY2017 | 1.74 | (0.51) |
| FY2016 | 2.25 | (0.45) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.14 | — | 0.16 | |
| Retained earnings / total assets | (0.28) | — | −0.39 | |
| EBIT / total assets | (0.04) | — | −0.14 | |
| Market value of equity / total liabilities | 0.82 | — | 0.49 | |
| Sales / total assets | 1.33 | — | 1.33 | |
| Altman Z-score | Distress zone | 1.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.70 | ||
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 |
|---|---|
| REX REX American Resources Corporation compare | 9.7× |
| ASIX AdvanSix compare | 1.9× |
| LXU Lsb Industries Inc. compare | 1.7× |
| OLN Olin Corporation compare | 1.7× |
| GPRE Green Plains, Inc. | 1.4× |
| HUN Huntsman Corporation compare | 1.4× |
| RYAM Rayonier Advanced Materials Inc. compare | 1.1× |
| TROX Tronox Holdings PLC compare | 0.7× |
| WLKP Westlake Chemical Partners LP 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