Jaguar Animal Health, Inc.
JAGX Healthcare Biotechnology
Jaguar Animal Health, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.5 million, down 1.52% from fiscal 2024. In the quarter to June 2026, revenue fell 58.9%, EPS grew 95.6%, free cash flow grew 13.8% and total debt fell 83.9%, each against the same quarter a year earlier.
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Jaguar Animal Health, Inc. (JAGX) Altman Z-score
Jaguar Animal Health, Inc.'s Altman Z-score for fiscal 2025 is −18.88, 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 | −18.88 | (8.49) |
| FY2024 | −10.38 | (0.80) |
| FY2023 | −9.59 | (82,843.09) |
| FY2022 | 82833.50 | (447,752.39) |
| FY2021 | 530585.90 | (42,996,187.68) |
| FY2020 | 43526773.58 | 16,836,551.08 |
| FY2019 | 26690222.50 | 13,284,954.78 |
| FY2018 | 13405267.72 | (1,702,821,784.23) |
| FY2017 | 1716227051.95 | (143,744,817,023.39) |
| FY2016 | 145461044075.35 | (47,570,865,866.32) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.53) | — | −0.64 | |
| Retained earnings / total assets | (10.44) | — | −14.61 | |
| EBIT / total assets | (1.20) | — | −3.95 | |
| Market value of equity / total liabilities | 0.04 | — | 0.02 | |
| Sales / total assets | 0.30 | — | 0.30 | |
| Altman Z-score | Distress zone | −18.88 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −45.89 | ||
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 |
|---|---|
| CSCIF COSCIENS Biopharma Inc. compare | −2.1× |
| NKGN NKGen Biotech, Inc. compare | −10.2× |
| VTGN VistaGen Therapeutics, Inc. compare | −16.8× |
| JAGX Jaguar Animal Health, Inc. | −18.9× |
| LSTA Lisata Therapeutics, Inc. compare | −43.9× |
| BIVI BioVie Inc. compare | — |
| MTVA MetaVia Inc. compare | — |
| IMRN IMMURON compare | — |
| CMMB Chemomab Therapeutics Ltd. Sponsored ADR 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