MindForge Inc.
MF Communication Services Advertising Agencies
MindForge Inc.’s revenue for fiscal 2025 (year ended June 2025) was $29.7 million, down 42.5% from fiscal 2024.
Follow MF
MindForge Inc. (MF) Altman Z-score
MindForge Inc.'s Altman Z-score for fiscal 2025 is 7.64, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 7.64 | 1.49 |
| FY2024 | 6.14 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.65 | — | 0.78 | |
| Retained earnings / total assets | (0.18) | — | −0.25 | |
| EBIT / total assets | (0.15) | — | −0.49 | |
| Market value of equity / total liabilities | 10.31 | — | 6.18 | |
| Sales / total assets | 1.41 | — | 1.41 | |
| Altman Z-score | Safe zone | 7.64 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 12.85 | ||
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 |
|---|---|
| EDHL Everbright Digital Holding Limited compare | 10.5× |
| MF MindForge Inc. | 7.6× |
| SWAG Stran & Company, Inc. compare | 3.5× |
| ACCS ACCESS Newswire Inc. compare | 2.4× |
| WIMI WiMi Hologram Cloud Inc. compare | 0.9× |
| TULP Bloomia Holdings, Inc. compare | −0.2× |
| DLPN Dolphin Digital Media Inc. compare | −2.5× |
| TDIC Dreamland Limited compare | −2.7× |
| CDLX Cardlytics, Inc. compare | −6.9× |
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