Mesa Laboratories, Inc.
MLAB Technology Scientific & Technical Instruments
Mesa Laboratories, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $249.1 million, up 3.38% from fiscal 2025. In the quarter to June 2026, revenue grew 1.00%, EPS fell 42.5%, free cash flow grew 1,503.7% and total debt rose 70.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Mesa Laboratories, Inc. (MLAB) Altman Z-score
Mesa Laboratories, Inc.'s Altman Z-score for fiscal 2026 is 1.45, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 1.45 | 0.14 |
| FY2025 | 1.31 | 2.06 |
| FY2024 | −0.75 | (3.47) |
| FY2023 | 2.72 | (0.39) |
| FY2022 | 3.11 | (1.62) |
| FY2021 | 4.72 | 0.83 |
| FY2020 | 3.90 | (9.38) |
| FY2019 | 13.27 | 6.77 |
| FY2018 | 6.51 | 1.25 |
| FY2017 | 5.26 | 0.99 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.10 | — | 0.12 | |
| Retained earnings / total assets | (0.43) | — | −0.61 | |
| EBIT / total assets | 0.04 | — | 0.14 | |
| Market value of equity / total liabilities | 2.02 | — | 1.21 | |
| Sales / total assets | 0.58 | — | 0.58 | |
| Altman Z-score | Distress zone | 1.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.37 | ||
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 |
|---|---|
| BMI Badger Meter, Inc. compare | 14.8× |
| SOTK Sono-Tek Corporation compare | 8.3× |
| NOVT Novanta Inc. compare | 6.6× |
| ITRN Ituran Location and Control Ltd. compare | 6.1× |
| VPG Vishay Precision Group, Inc. compare | 4.4× |
| VNT Vontier Corporation compare | 2.9× |
| ITRI Itron, Inc. compare | 2.5× |
| MLAB Mesa Laboratories, Inc. | 1.5× |
| USBC USBC, INC. compare | −0.9× |
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