ENDRA Life Sciences Inc.
NDRA Healthcare Diagnostics & Research
In the quarter to June 2026, EPS grew 107.0% and free cash flow grew 15.0%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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ENDRA Life Sciences Inc. (NDRA) Altman Z-score
ENDRA Life Sciences Inc.'s Altman Z-score for fiscal 2018 is −5.26, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2018 | −5.26 | (11.75) |
| FY2017 | 6.49 | — |
How fiscal 2018’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.83 | — | 0.99 | |
| Retained earnings / total assets | (3.83) | — | −5.37 | |
| EBIT / total assets | (1.25) | — | −4.12 | |
| Market value of equity / total liabilities | 5.39 | — | 3.23 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Distress zone | −5.26 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −8.73 | ||
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 |
|---|---|
| PMD Psychemedics Corporation compare | 1.3× |
| ADVB Advanced Biomed Inc. compare | 0.7× |
| NOTVQ Inotiv, Inc. compare | −1.1× |
| NDRA ENDRA Life Sciences Inc. | −5.3× |
| DMTKQ DermTech, Inc. compare | −6.5× |
| BIAF bioAffinity Technologies, Inc. compare | −10.5× |
| ISPC iSpecimen Inc. compare | −14.8× |
| TTOO T2 Biosystems, Inc. compare | −28.9× |
| XWEL XWELL, Inc. compare | −63.8× |
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