Mega Matrix Inc.
MPU Communication Services Entertainment
Mega Matrix Inc.’s revenue for fiscal 2025 (year ended December 2025) was $26.1 million, down 27.9% from fiscal 2024. In the quarter to December 2025, revenue fell 49.2%, EPS fell 850.8% and free cash flow fell 206.2%, each against the same quarter a year earlier.
Follow MPU
Mega Matrix Inc. (MPU) Altman Z-score
Mega Matrix Inc.'s Altman Z-score for fiscal 2025 is −5.88, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −5.88 | (4.76) |
| FY2024 | −1.12 | 0.54 |
| FY2023 | −1.66 | 0.07 |
| FY2022 | −1.72 | (9.72) |
| FY2021 | 8.00 | 9.36 |
| FY2020 | −1.37 | (1.48) |
| FY2019 | 0.11 | 0.33 |
| FY2018 | −0.22 | (0.19) |
| FY2017 | −0.03 | 0.08 |
| FY2016 | −0.12 | (0.27) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.59 | — | 0.71 | |
| Retained earnings / total assets | (2.70) | — | −3.79 | |
| EBIT / total assets | (1.29) | — | −4.26 | |
| Market value of equity / total liabilities | 0.48 | — | 0.29 | |
| Sales / total assets | 1.16 | — | 1.16 | |
| Altman Z-score | Distress zone | −5.88 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.23 | ||
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 |
|---|---|
| FTRKF FAST TRACK GROUP compare | 2.5× |
| CPOP Pop Culture Group Co., Ltd. compare | 0.6× |
| KUKEY Kuke Music Holding Limited Sponsored ADR compare | −3.4× |
| ANGH Anghami Inc. compare | −5.5× |
| NIPG NIP Group Inc. Sponsored ADR compare | −5.6× |
| MPU Mega Matrix Inc. | −5.9× |
| CSSEQ Chicken Soup for the Soul Entertainment, Inc. compare | −8.3× |
| KUST Kustom Entertainment Inc. compare | −11.4× |
| MMVVF MultiMetaVerse Holdings Limited compare | −45.4× |
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