Here Group Limited
HERE Consumer Cyclical Leisure
Here Group Limited’s revenue for fiscal 2026 (year ended June 2026) was $88.0 million, down 76.9% from fiscal 2025. In the quarter to March 2026, revenue fell 69.6%, EPS fell 200.0% and free cash flow fell 33.0%, each against the same quarter a year earlier.
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Here Group Limited (HERE) Altman Z-score
Here Group Limited's Altman Z-score for fiscal 2026 is 1.11, 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 | 1.11 | (4.47) |
| FY2025 | 5.58 | 1.80 |
| FY2024 | 3.78 | 1.24 |
| FY2023 | 2.54 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.67 | — | 0.80 | |
| Retained earnings / total assets | (0.14) | — | −0.20 | |
| EBIT / total assets | (0.26) | — | −0.85 | |
| Market value of equity / total liabilities | 1.40 | — | 0.84 | |
| Sales / total assets | 0.52 | — | 0.52 | |
| Altman Z-score | Distress zone | 1.11 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.48 | ||
Z and Z″ put Here Group Limited in different zones: distress 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 |
|---|---|
| PUSA Powerus Corporation compare | 13.3× |
| KMRK K-Tech Solutions Company Limited compare | 8.7× |
| NOMA NOMADAR Corp. compare | 4.4× |
| AOUT American Outdoor Brands, Inc. compare | 2.1× |
| KBSX FST Corp. compare | 1.5× |
| GDHG Golden Heaven Group Holdings Ltd. compare | 1.3× |
| HERE Here Group Limited | 1.1× |
| CLAR Clarus Corporation compare | −0.3× |
| PLBY PLBY Group, Inc. compare | −2.6× |
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