Inventiva S.A. Sponsored ADR
Inventiva S.A. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $9.0 million, down 43.7% from fiscal 2024.
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Inventiva S.A. Sponsored ADR (IVA) Altman Z-score
Inventiva S.A. Sponsored ADR's Altman Z-score for fiscal 2025 is −1.36, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −1.36 | 3.17 |
| FY2024 | −4.53 | 1.15 |
| FY2023 | −5.68 | (5.84) |
| FY2022 | 0.16 | (7.04) |
| FY2021 | 7.20 | (2.14) |
| FY2020 | 9.33 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.67 | — | 0.80 | |
| Retained earnings / total assets | (1.42) | — | −1.99 | |
| EBIT / total assets | (0.57) | — | −1.87 | |
| Market value of equity / total liabilities | 2.76 | — | 1.66 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −1.36 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −4.14 | ||
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 |
|---|---|
| FDMT 4D Molecular Therapeutics, Inc. compare | 2.5× |
| IVA Inventiva S.A. Sponsored ADR | −1.4× |
| GERN Geron Corporation compare | −2.2× |
| ACHV Achieve Life Sciences, Inc. compare | −3.4× |
| DNA Ginkgo Bioworks Holdings, Inc. compare | −7.6× |
| LXRX Lexicon Pharmaceuticals, Inc. compare | −12.1× |
| ANL Adlai Nortye Ltd. Sponsored ADR compare | −22.1× |
| SANA Sana Biotechnology, Inc. compare | — |
| IMMX Immix Biopharma, Inc. 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