monday.com Ltd.
MNDY Technology Software Application
monday.com Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 26.7% from fiscal 2024. In the quarter to June 2026, revenue grew 21.9%, EPS grew 166.7% and free cash flow fell 15.9%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
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monday.com Ltd. (MNDY) Altman Z-score
monday.com Ltd.'s Altman Z-score for fiscal 2025 is 6.20, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 6.20 | (5.31) |
| FY2024 | 11.52 | (0.82) |
| FY2023 | 12.34 | 3.05 |
| FY2022 | 9.29 | (15.26) |
| FY2021 | 24.55 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.51 | — | 0.61 | |
| Retained earnings / total assets | (0.21) | — | −0.29 | |
| EBIT / total assets | 0.00 | — | −0.00 | |
| Market value of equity / total liabilities | 8.83 | — | 5.30 | |
| Sales / total assets | 0.58 | — | 0.58 | |
| Altman Z-score | Safe zone | 6.20 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.19 | ||
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 |
|---|---|
| DAVE Dave Inc. compare | 16.5× |
| LIF Life360, Inc. compare | 8.2× |
| MNDY monday.com Ltd. | 6.2× |
| QTWO Q2 Holdings, Inc. compare | 4.4× |
| SRAD Sportradar Group AG compare | 2.3× |
| WK Workiva Inc. compare | 2.1× |
| FRSH Freshworks Inc. compare | 1.6× |
| FSLY Fastly, Inc. compare | 0.9× |
| BILL BILL Holdings, Inc. compare | 0.5× |
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