ContextLogic Inc.
LOGC Consumer Cyclical Internet Retail
ContextLogic Inc.’s revenue for fiscal 2024 (year ended December 2024) was $43.0 million, down 85.0% from fiscal 2023. In the quarter to June 2026, revenue grew 380.0%, EPS fell 669.1% and free cash flow fell 115.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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ContextLogic Inc. (LOGC) Altman Z-score
ContextLogic Inc.'s Altman Z-score for fiscal 2024 is −8.45, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −8.45 | 3.16 |
| FY2023 | −11.61 | (6.86) |
| FY2022 | −4.75 | (5.90) |
| FY2021 | 1.15 | 0.73 |
| FY2020 | 0.42 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.97 | — | 1.16 | |
| Retained earnings / total assets | (21.35) | — | −29.88 | |
| EBIT / total assets | (0.51) | — | −1.67 | |
| Market value of equity / total liabilities | 36.12 | — | 21.67 | |
| Sales / total assets | 0.28 | — | 0.28 | |
| Altman Z-score | Distress zone | −8.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −34.93 | ||
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 |
|---|---|
| HOUR Hour Loop, Inc. compare | 9.0× |
| RERE ATRenew Inc. Sponsored ADR compare | 5.0× |
| NEGG Newegg Commerce, Inc. compare | 4.7× |
| BZUN Baozun Inc. compare | 1.5× |
| ZKH ZKH Group Limited Unsponsored ADR compare | 1.3× |
| TDUP ThredUp Inc. compare | 0.9× |
| MI NFT Limited compare | 0.7× |
| NXH Neighborhood Intelligence, Inc. compare | 0.3× |
| LOGC ContextLogic Inc. | −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