Namib Minerals
NAMM Basic Materials Gold
Namib Minerals' revenue for fiscal 2025 (year ended December 2025) was $82.6 million, down 3.83% from fiscal 2024. In the quarter to June 2025, EPS fell 226.3% and free cash flow fell 52.2%, each against the same quarter a year earlier.
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Namib Minerals (NAMM) Altman Z-score
Namib Minerals's Altman Z-score for fiscal 2025 is 8.28, 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 | 8.28 | 3.58 |
| FY2024 | 4.70 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.60) | — | −0.71 | |
| Retained earnings / total assets | 1.12 | — | 1.57 | |
| EBIT / total assets | 1.76 | — | 5.80 | |
| Market value of equity / total liabilities | 0.51 | — | 0.31 | |
| Sales / total assets | 1.32 | — | 1.32 | |
| Altman Z-score | Safe zone | 8.28 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 11.17 | ||
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 |
|---|---|
| IDR Idaho Strategic Resources, Inc. compare | 66.3× |
| NAMM Namib Minerals | 8.3× |
| CMCL Caledonia Mining Corporation PLC compare | 3.8× |
| TRX TRX Gold Corporation compare | 1.0× |
| PZG Paramount Gold Nevada Corp. compare | −0.9× |
| USAU US Gold Corp compare | −1.8× |
| AUST Austin Gold Corp. compare | — |
| CTGO Contango Silver & Gold Inc. compare | — |
| GLDG GoldMining 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