Gorilla Technology Group Inc.
GRRR Technology Software Infrastructure
Gorilla Technology Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $101.4 million, up 35.7% from fiscal 2024. In the quarter to June 2026, revenue grew 223.1%, EPS grew 3.08%, free cash flow fell 129.0% and total debt rose 299.3%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Gorilla Technology Group Inc. (GRRR) Altman Z-score
Gorilla Technology Group Inc.'s Altman Z-score for fiscal 2025 is 2.03, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.03 | 2.51 |
| FY2024 | −0.48 | (1.13) |
| FY2023 | 0.65 | (0.10) |
| FY2022 | 0.75 | (3.13) |
| FY2021 | 3.88 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.60 | — | 0.72 | |
| Retained earnings / total assets | (0.59) | — | −0.82 | |
| EBIT / total assets | (0.05) | — | −0.17 | |
| Market value of equity / total liabilities | 3.21 | — | 1.92 | |
| Sales / total assets | 0.37 | — | 0.37 | |
| Altman Z-score | Grey zone | 2.03 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.42 | ||
Z and Z″ put Gorilla Technology Group Inc. in different zones: grey zone by Z, safe 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 |
|---|---|
| EXOD Exodus Movement, Inc. compare | 14.5× |
| ARQQ Arqit Quantum Inc. compare | 6.1× |
| ZSQR Z Squared Inc. compare | 5.7× |
| BKKT Bakkt Holdings, Inc. compare | 5.3× |
| GRRR Gorilla Technology Group Inc. | 2.0× |
| ZENA ZenaTech, Inc. compare | 1.6× |
| PSFE Paysafe Limited compare | −0.1× |
| PDYN Palladyne AI Corp. compare | −2.8× |
| MOVE Corvex, Inc. compare | −51.1× |
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