Mynd.ai, Inc. Unsponsored ADR
MYND Consumer Defensive Education & Training Services
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Mynd.ai, Inc. Unsponsored ADR (MYND) Altman Z-score
Mynd.ai, Inc. Unsponsored ADR's Altman Z-score for fiscal 2025 is −3.46, 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 | −3.46 | (4.03) |
| FY2024 | 0.57 | (3.92) |
| FY2023 | 4.49 | (2.28) |
| FY2022 | 6.77 | 4.05 |
| FY2021 | 2.72 | 3.20 |
| FY2020 | −0.48 | (1.18) |
| FY2019 | 0.70 | (0.60) |
| FY2018 | 1.30 | (1.70) |
| FY2017 | 3.00 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.14) | — | −0.17 | |
| Retained earnings / total assets | (2.79) | — | −3.90 | |
| EBIT / total assets | (0.27) | — | −0.91 | |
| Market value of equity / total liabilities | 1.00 | — | 0.60 | |
| Sales / total assets | 0.92 | — | 0.92 | |
| Altman Z-score | Distress zone | −3.46 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −11.96 | ||
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 |
|---|---|
| WAFU Wah Fu Education & Technology Group Limited compare | 2.8× |
| EDTK Skillful Craftsman Education Technology Limited compare | 2.5× |
| YOUL Youlife Group Inc. compare | 2.2× |
| STG Sunlands Technology Group Sponsored ADR compare | 1.1× |
| FEDU Four Seasons Education (Cayman) Inc. Unsponsored ADR compare | 0.5× |
| EEIQ EpicQuest Education Group International Limited compare | −0.4× |
| MYND Mynd.ai, Inc. Unsponsored ADR | −3.5× |
| YQ 17 Education & Technology Group Inc. Sponsored ADR compare | −25.6× |
| ZME Zhangmen Education Inc. Sponsored ADR 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