Immersion Corporation
IMMR Technology Software Application
In the quarter to July 2026, revenue was flat, EPS grew 666.7%, free cash flow grew 27.9% and total debt fell 27.4%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Immersion Corporation (IMMR) Altman Z-score
Immersion Corporation's Altman Z-score for fiscal 2026 is 2.45, 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) |
|---|---|---|
| FY2026 | 2.45 | (0.01) |
| FY2025 | 2.46 | (2.77) |
| FY2023 | 5.23 | (0.11) |
| FY2022 | 5.34 | 1.53 |
| FY2021 | 3.81 | (1.67) |
| FY2020 | 5.49 | 2.76 |
| FY2019 | 2.73 | (2.81) |
| FY2018 | 5.54 | 8.78 |
| FY2017 | −3.24 | (6.33) |
| FY2016 | 3.09 | (7.67) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.36 | — | 0.44 | |
| Retained earnings / total assets | 0.03 | — | 0.04 | |
| EBIT / total assets | 0.02 | — | 0.08 | |
| Market value of equity / total liabilities | 0.42 | — | 0.25 | |
| Sales / total assets | 1.64 | — | 1.64 | |
| Altman Z-score | Grey zone | 2.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.87 | ||
Z and Z″ put Immersion Corporation 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 |
|---|---|
| AZ A2Z Cust2Mate Solutions Corp. compare | 13.9× |
| IMMR Immersion Corporation | 2.5× |
| EXFY Expensify, Inc. compare | 1.4× |
| SMRT SmartRent, Inc. compare | 1.1× |
| SVCO Silvaco Group, Inc. compare | 0.1× |
| XPER Xperi Inc. compare | −0.4× |
| RBBN Ribbon Communications Inc. compare | −0.5× |
| ALIT Alight, Inc. compare | −2.6× |
| BLND Blend Labs, Inc. compare | −8.4× |
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