KULR Technology Group, Inc.
KULR Technology Electronic Components
KULR Technology Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.2 million, up 50.6% from fiscal 2024. In the quarter to June 2026, revenue fell 43.1%, EPS fell 313.6%, free cash flow grew 75.4% and total debt rose 128,105.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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KULR Technology Group, Inc. (KULR) Altman Z-score
KULR Technology Group, Inc.'s Altman Z-score for fiscal 2025 is 7.21, 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 | 7.21 | (63.13) |
| FY2024 | 70.34 | 84.09 |
| FY2023 | −13.75 | (14.94) |
| FY2022 | 1.19 | (51.42) |
| FY2021 | 52.61 | 30.87 |
| FY2020 | 21.74 | 29.88 |
| FY2019 | −8.13 | (185.57) |
| FY2018 | 177.44 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.15 | — | 0.18 | |
| Retained earnings / total assets | (1.13) | — | −1.58 | |
| EBIT / total assets | (0.33) | — | −1.10 | |
| Market value of equity / total liabilities | 15.99 | — | 9.59 | |
| Sales / total assets | 0.13 | — | 0.13 | |
| Altman Z-score | Safe zone | 7.21 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 12.42 | ||
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 |
|---|---|
| LINK Interlink Electronics, Inc. compare | 8.4× |
| KULR KULR Technology Group, Inc. | 7.2× |
| CPSH CPS Technologies Corp. compare | 6.6× |
| OPTX Syntec Optics Holdings, Inc. compare | 6.0× |
| DSWL Deswell Industries, Inc. compare | 3.2× |
| ELTK Eltek Ltd. compare | 3.1× |
| HOLO MicroCloud Hologram Inc. compare | 2.9× |
| DAIO Data I/O Corporation compare | 2.9× |
| WBX Wallbox N.V. compare | −4.4× |
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