Ferroglobe PLC
GSM Basic Materials Other Industrial Metals & Mining
Ferroglobe PLC’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, down 18.8% from fiscal 2024. In the quarter to June 2026, revenue fell 2.13%, EPS grew 633.3%, free cash flow grew 135,746.7% and total debt fell 66.8%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.
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Ferroglobe PLC (GSM) Altman Z-score
Ferroglobe PLC's Altman Z-score for fiscal 2025 cannot be worked out: retained earnings not reported.
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | 3.02 | (0.13) |
| FY2023 | 3.15 | (0.28) |
| FY2022 | 3.43 | 1.63 |
| FY2021 | 1.80 | 0.31 |
| FY2020 | 1.49 | 1.09 |
| FY2019 | 0.40 | (1.18) |
| FY2018 | 1.59 | (1.76) |
| FY2017 | 3.35 | 1.13 |
| FY2016 | 2.22 | (1.90) |
| FY2015 | 4.12 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.25 | |
| Retained earnings / total assets | — | — | n/a | — |
| EBIT / total assets | (0.09) | — | −0.31 | |
| Market value of equity / total liabilities | 1.21 | — | 0.73 | |
| Sales / total assets | 0.94 | — | 0.94 | |
| Altman Z-score | n/a — retained earnings not reported | — | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | n/a — retained earnings not reported | — | ||
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 |
|---|---|
| ELVR Elevra Lithium Limited - Sponsored ADR compare | 5.7× |
| SGML Sigma Lithium Corporation compare | 1.9× |
| CMP Compass Minerals International, Inc. compare | 1.4× |
| LAR Lithium Americas (Argentina) Corp. compare | 1.1× |
| CRML Critical Metals Corp. compare | — |
| EMAT Evolution Metals & Technologies Corp. compare | — |
| IPX IperionX Limited Sponsored ADR compare | — |
| GSM Ferroglobe PLC | — |
| LAC Lithium Americas Corp. 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