Lucid Diagnostics Inc.
LUCD Healthcare Medical Devices
Lucid Diagnostics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 million, up 8.28% from fiscal 2024. In the quarter to June 2026, revenue grew 26.7%, EPS was flat, free cash flow fell 7.04% and total debt fell 7.11%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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Lucid Diagnostics Inc. (LUCD) Altman Z-score
Lucid Diagnostics Inc.'s Altman Z-score for fiscal 2025 is −10.91, 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 | −10.91 | 2.14 |
| FY2024 | −13.05 | (0.41) |
| FY2023 | −12.64 | (6.43) |
| FY2022 | −6.21 | (18.84) |
| FY2021 | 12.63 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.22 | — | 0.26 | |
| Retained earnings / total assets | (6.78) | — | −9.50 | |
| EBIT / total assets | (1.23) | — | −4.05 | |
| Market value of equity / total liabilities | 3.77 | — | 2.26 | |
| Sales / total assets | 0.12 | — | 0.12 | |
| Altman Z-score | Distress zone | −10.91 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −28.53 | ||
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 |
|---|---|
| MXCT MaxCyte, Inc. compare | 1.3× |
| APYX Apyx Medical Corporation compare | 1.1× |
| ZOMDF Zomedica Corp. compare | 0.4× |
| OWLT Owlet, Inc. compare | −0.4× |
| QTRX Quanterix Corporation compare | −0.9× |
| SERA Sera Prognostics, Inc. compare | −2.1× |
| LUNG Pulmonx Corporation compare | −4.8× |
| HYPR Hyperfine, Inc. compare | −6.1× |
| LUCD Lucid Diagnostics Inc. | −10.9× |
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