NovaBridge Biosciences
In the quarter to June 2026, EPS fell 123.3% and free cash flow grew 34.3%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
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NovaBridge Biosciences (NBP) Altman Z-score
NovaBridge Biosciences's Altman Z-score for fiscal 2023 is −3.80, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −3.80 | (15.61) |
| FY2021 | 11.81 | (4.21) |
| FY2020 | 16.02 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.74 | — | 0.88 | |
| Retained earnings / total assets | (3.43) | — | −4.80 | |
| EBIT / total assets | (0.20) | — | −0.64 | |
| Market value of equity / total liabilities | 1.25 | — | 0.75 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −3.80 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −5.63 | ||
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 |
|---|---|
| TARA Protara Therapeutics, Inc. compare | 7.3× |
| MOLN Molecular Partners AG Sponsored ADR compare | 2.7× |
| MDWD MediWound Ltd. compare | −1.1× |
| NBP NovaBridge Biosciences | −3.8× |
| ADAG Adagene Inc. Sponsored ADR compare | −4.6× |
| CDXS Codexis, Inc. compare | −4.7× |
| MSLE Satellos Bioscience Inc. compare | — |
| CNTN Canton Strategic Holdings, Inc. compare | — |
| MENS Jyong Biotech Ltd. 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