Meta Materials Inc.
MMATQ Technology Electronic Components
Meta Materials Inc.’s revenue for fiscal 2023 (year ended December 2023) was $8.0 million, down 21.9% from fiscal 2022. Operating cash flow growth for three consecutive years.
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Meta Materials Inc. (MMATQ) Altman Z-score
Meta Materials Inc.'s Altman Z-score for fiscal 2023 is −39.17, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −39.17 | (45.55) |
| FY2022 | 6.37 | 3.50 |
| FY2021 | 2.88 | 6.46 |
| FY2020 | −3.58 | (0.87) |
| FY2019 | −2.71 | (0.12) |
| FY2018 | −2.58 | (1.94) |
| FY2017 | −0.65 | 5.04 |
| FY2016 | −5.69 | 17.41 |
| FY2015 | −23.10 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.11) | — | −0.13 | |
| Retained earnings / total assets | (11.03) | — | −15.44 | |
| EBIT / total assets | (7.40) | — | −24.43 | |
| Market value of equity / total liabilities | 1.14 | — | 0.69 | |
| Sales / total assets | 0.14 | — | 0.14 | |
| Altman Z-score | Distress zone | −39.17 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −85.74 | ||
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 |
|---|---|
| WETH Wetouch Technology Inc. compare | 5.4× |
| VIAOY VIA optronics AG Sponsored ADR compare | 1.6× |
| MSAI MultiSensor AI Holdings, Inc. compare | −0.7× |
| OST Ostin Technology Group Co., Ltd. compare | −1.0× |
| NEON Neonode Inc. compare | −1.2× |
| GAUZ Gauzy Ltd. compare | −1.4× |
| IMTE Integrated Media Technology Limited compare | −4.2× |
| MTEK Maris-Tech Ltd. compare | −4.4× |
| MMATQ Meta Materials Inc. | −39.2× |
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