LiveWire Group, Inc.
LVWR Consumer Cyclical Auto Manufacturers
LiveWire Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $25.7 million, down 3.61% from fiscal 2024. In the quarter to June 2026, revenue grew 55.2%, EPS was flat and free cash flow grew 12.6%, each against the same quarter a year earlier.
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LiveWire Group, Inc. (LVWR) Altman Z-score
LiveWire Group, Inc.'s Altman Z-score for fiscal 2025 is 1.65, 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 | 1.65 | (12.34) |
| FY2024 | 13.99 | (7.56) |
| FY2023 | 21.55 | 10.27 |
| FY2022 | 11.28 | (7.46) |
| FY2021 | 18.75 | 17.42 |
| FY2020 | 1.33 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.56 | — | 0.67 | |
| Retained earnings / total assets | (2.06) | — | −2.88 | |
| EBIT / total assets | (0.52) | — | −1.70 | |
| Market value of equity / total liabilities | 8.97 | — | 5.38 | |
| Sales / total assets | 0.18 | — | 0.18 | |
| Altman Z-score | Distress zone | 1.65 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −6.00 | ||
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 |
|---|---|
| CYD China Yuchai International Limited compare | 1.8× |
| LVWR LiveWire Group, Inc. | 1.7× |
| NIU Niu Technologies compare | 1.5× |
| EMPD Empery Digital Inc. compare | −2.2× |
| LOT Lotus Technology Inc. Sponsored ADR compare | −3.5× |
| LCID Lucid Group, Inc. compare | −3.5× |
| PSNY Polestar Automotive Holding UK PLC compare | −5.2× |
| AIIO Robo.ai Inc. - Class B compare | −227× |
| SEV Aptera Motors Corp. 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