MediWound Ltd.
MDWD Healthcare Biotechnology
MediWound Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 million, down 16.1% from fiscal 2024. In the quarter to June 2026, revenue fell 45.8%, EPS grew 53.7%, free cash flow fell 49.9% and total debt rose 51.8%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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MediWound Ltd. (MDWD) Altman Z-score
MediWound Ltd.'s Altman Z-score for fiscal 2025 is −1.05, 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 | −1.05 | 0.52 |
| FY2024 | −1.57 | 0.44 |
| FY2023 | −2.01 | 0.87 |
| FY2022 | −2.88 | 6.48 |
| FY2021 | −9.36 | (6.27) |
| FY2020 | −3.09 | (2.63) |
| FY2019 | −0.45 | 1.55 |
| FY2018 | −2.00 | 0.28 |
| FY2017 | −2.28 | 0.64 |
| FY2016 | −2.92 | (4.11) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.40 | — | 0.48 | |
| Retained earnings / total assets | (2.65) | — | −3.72 | |
| EBIT / total assets | (0.29) | — | −0.97 | |
| Market value of equity / total liabilities | 4.93 | — | 2.96 | |
| Sales / total assets | 0.20 | — | 0.20 | |
| Altman Z-score | Distress zone | −1.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −6.94 | ||
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 |
|---|---|
| CMPX Compass Therapeutics, Inc. compare | 4.0× |
| MDWD MediWound Ltd. | −1.1× |
| NBP NovaBridge Biosciences compare | −3.8× |
| ADAG Adagene Inc. Sponsored ADR compare | −4.6× |
| CDXS Codexis, Inc. compare | −4.7× |
| CHRS Coherus Oncology, Inc. compare | −8.8× |
| IPHA Innate Pharma S.A. Sponsored ADR compare | −11.2× |
| CNTN Canton Strategic Holdings, Inc. compare | — |
| VRXA Veraxa Biotech AG 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