Luxfer Holdings PLC
LXFR Industrials Specialty Industrial Machinery
Luxfer Holdings PLC’s revenue for fiscal 2025 (year ended December 2025) was $384.6 million, down 1.86% from fiscal 2024. In the quarter to June 2026, revenue fell 10.2%, EPS grew 80.0%, free cash flow grew 100.0% and total debt rose 10.8%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Luxfer Holdings PLC (LXFR) Altman Z-score
Luxfer Holdings PLC's Altman Z-score for fiscal 2025 is 3.37, 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 | 3.37 | 0.14 |
| FY2024 | 3.23 | 0.47 |
| FY2023 | 2.76 | (0.45) |
| FY2022 | 3.21 | (0.80) |
| FY2021 | 4.01 | 0.63 |
| FY2020 | 3.39 | 0.22 |
| FY2019 | 3.16 | (0.12) |
| FY2018 | 3.28 | 0.48 |
| FY2017 | 2.81 | (0.66) |
| FY2016 | 3.47 | 0.17 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.18 | — | 0.21 | |
| Retained earnings / total assets | 0.28 | — | 0.39 | |
| EBIT / total assets | 0.06 | — | 0.21 | |
| Market value of equity / total liabilities | 2.52 | — | 1.51 | |
| Sales / total assets | 1.04 | — | 1.04 | |
| Altman Z-score | Safe zone | 3.37 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.17 | ||
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 |
|---|---|
| SERV Serve Robotics Inc. compare | 21.8× |
| RR Richtech Robotics Inc. compare | 14.7× |
| KRNT Kornit Digital Ltd. compare | 7.5× |
| GHM Graham Corporation compare | 4.2× |
| LXFR Luxfer Holdings PLC | 3.4× |
| TWIN Twin Disc, Incorporated compare | 3.3× |
| PKOH Park-Ohio Holdings Corp. compare | 2.1× |
| BW Babcock compare | −1.9× |
| NNE Nano Nuclear Energy Inc. 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