InfuSystems Holdings, Inc.
INFU Healthcare Medical Devices
InfuSystems Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $143.4 million, up 6.36% from fiscal 2024. In the quarter to June 2026, revenue grew 2.59%, EPS grew 33.3%, free cash flow fell 66.5% and total debt fell 22.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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InfuSystems Holdings, Inc. (INFU) Altman Z-score
InfuSystems Holdings, Inc.'s Altman Z-score for fiscal 2025 is 3.74, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.74 | 0.48 |
| FY2024 | 3.25 | (0.10) |
| FY2023 | 3.36 | 0.81 |
| FY2022 | 2.54 | (2.19) |
| FY2021 | 4.74 | (0.05) |
| FY2020 | 4.78 | 2.96 |
| FY2019 | 1.82 | 1.06 |
| FY2018 | 0.76 | 0.25 |
| FY2017 | 0.51 | (0.46) |
| FY2016 | 0.98 | (0.36) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.16 | — | 0.19 | |
| Retained earnings / total assets | (0.60) | — | −0.85 | |
| EBIT / total assets | 0.12 | — | 0.39 | |
| Market value of equity / total liabilities | 4.29 | — | 2.57 | |
| Sales / total assets | 1.43 | — | 1.43 | |
| Altman Z-score | Safe zone | 3.74 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.27 | ||
Z and Z″ put InfuSystems Holdings, Inc. in different zones: safe zone by Z, grey 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 |
|---|---|
| ELMD Electromed, Inc. compare | 20.3× |
| INFU InfuSystems Holdings, Inc. | 3.7× |
| CLPT ClearPoint Neuro, Inc. compare | 0.4× |
| QSI Quantum-Si Incorporated compare | 0.4× |
| TMCI Treace Medical Concepts, Inc. compare | −0.1× |
| CATX Perspective Therapeutics, Inc. compare | −0.6× |
| LAB Standard BioTools Inc. compare | −0.8× |
| TLSI TriSalus Life Sciences, Inc. compare | −11.3× |
| RCEL Avita Medical Inc. compare | −12.0× |
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