NeoVolta, Inc.
NEOV Industrials Electrical Equipment & Parts
In the quarter to June 2026, revenue fell 99.7%, EPS fell 380.0%, free cash flow fell 1,293.6% and total debt rose 65.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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NeoVolta, Inc. (NEOV) Altman Z-score
NeoVolta, Inc.'s Altman Z-score for fiscal 2026 is 3.76, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 3.76 | (7.51) |
| FY2025 | 11.28 | (843.63) |
| FY2024 | 854.91 | (734.69) |
| FY2023 | 1589.59 | 1,566.29 |
| FY2022 | 23.30 | (587.12) |
| FY2021 | 610.42 | 471.10 |
| FY2020 | 139.32 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.49 | — | 0.59 | |
| Retained earnings / total assets | (0.88) | — | −1.23 | |
| EBIT / total assets | (0.34) | — | −1.12 | |
| Market value of equity / total liabilities | 8.80 | — | 5.28 | |
| Sales / total assets | 0.25 | — | 0.25 | |
| Altman Z-score | Safe zone | 3.76 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 1.01 | ||
Z and Z″ put NeoVolta, Inc. in different zones: safe zone by Z, distress zone by Z″.
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 |
|---|---|
| ESP Espey Mfg. & Electronics Corp. compare | 5.2× |
| NEOV NeoVolta, Inc. | 3.8× |
| RFIL RF Industries, Ltd. compare | 2.9× |
| ULBI Ultralife Corporation compare | 1.6× |
| CBAT China BAK Battery, Inc. compare | −0.3× |
| EAF GrafTech International Ltd. compare | −0.5× |
| OESX Orion Energy Systems, Inc. compare | −0.8× |
| SKYX SKYX Platforms Corp. compare | −3.0× |
| LTBR Lightbridge Corporation compare | −13.5× |
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