stockrowMDA Space Ltd.
MDA Industrials Aerospace & Defense
MDA Space Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 48.3% from fiscal 2024.
- Revenue
- +33.4%
- EPS
- −12.3%
- Free cash flow
- −1,555.8%
- Total debt
- −3.38%
Quarter to June 2026, against a year earlier
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MDA Space Ltd. (MDA) Altman Z-score
MDA Space Ltd.'s Altman Z-score for fiscal 2025 is 1.50, 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 | 1.50 | (0.33) |
| FY2024 | 1.84 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.21) | — | −0.25 | |
| Retained earnings / total assets | 0.07 | — | 0.10 | |
| EBIT / total assets | 0.05 | — | 0.16 | |
| Market value of equity / total liabilities | 1.68 | — | 1.01 | |
| Sales / total assets | 0.49 | — | 0.49 | |
| Altman Z-score | Distress zone | 1.50 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.11 | ||
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 |
|---|---|
| KRMN Karman Holdings Inc. compare | 8.9× |
| MRCY Mercury Systems Inc compare | 6.1× |
| VSEC VSE Corporation compare | 5.1× |
| MOG.B Moog Inc. compare | 4.0× |
| AIR AAR Corp. compare | 3.7× |
| BETA BETA Technologies, Inc. compare | 3.5× |
| PL Planet Labs PBC compare | 3.4× |
| MDA MDA Space Ltd. | 1.5× |
| DPC DPC Holdings PLC 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