Montauk Renewables, Inc.
MNTK Basic Materials Specialty Chemicals
Montauk Renewables, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $176.4 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 19.7%, EPS grew 104.0%, free cash flow grew 60.4% and total debt rose 114.7%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Montauk Renewables, Inc. (MNTK) Altman Z-score
Montauk Renewables, Inc.'s Altman Z-score for fiscal 2025 is 1.44, 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 | 1.44 | (3.23) |
| FY2024 | 4.67 | (4.02) |
| FY2023 | 8.69 | (1.73) |
| FY2022 | 10.42 | 1.35 |
| FY2021 | 9.07 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.01 | — | 0.01 | |
| Retained earnings / total assets | 0.13 | — | 0.18 | |
| EBIT / total assets | 0.00 | — | 0.01 | |
| Market value of equity / total liabilities | 1.39 | — | 0.83 | |
| Sales / total assets | 0.41 | — | 0.41 | |
| Altman Z-score | Distress zone | 1.44 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.10 | ||
Z and Z″ put Montauk Renewables, Inc. in different zones: distress zone by Z, grey zone by Z″.
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 |
|---|---|
| HDSN Hudson Technologies, Inc. compare | 4.6× |
| CMT Core Molding Technologies Inc compare | 4.1× |
| FF FutureFuel Corp. compare | 2.0× |
| MNTK Montauk Renewables, Inc. | 1.4× |
| OEC Orion S.A. compare | 1.4× |
| ALTO Alto Ingredients, Inc. compare | 0.7× |
| MATV Mativ Holdings, Inc. compare | 0.7× |
| GEVO Gevo, Inc. compare | −0.3× |
| FEAM 5E Advanced Materials, Inc. 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