NetSol Technologies Inc.
NTWK Technology Software Application
In the quarter to June 2026, revenue grew 12.5%, EPS grew 74.9%, free cash flow grew 134,644.6% and total debt rose 58.2%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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NetSol Technologies Inc. (NTWK) Altman Z-score
NetSol Technologies Inc.'s Altman Z-score for fiscal 2026 is 2.17, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.17 | 0.27 |
| FY2025 | 1.90 | 0.58 |
| FY2024 | 1.32 | 0.82 |
| FY2023 | 0.49 | (0.95) |
| FY2022 | 1.44 | (0.43) |
| FY2021 | 1.87 | 0.48 |
| FY2020 | 1.39 | (1.35) |
| FY2019 | 2.74 | 0.51 |
| FY2018 | 2.23 | 0.72 |
| FY2017 | 1.51 | (1.49) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.38 | — | 0.45 | |
| Retained earnings / total assets | (0.49) | — | −0.69 | |
| EBIT / total assets | 0.09 | — | 0.29 | |
| Market value of equity / total liabilities | 1.93 | — | 1.16 | |
| Sales / total assets | 0.96 | — | 0.96 | |
| Altman Z-score | Grey zone | 2.17 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.30 | ||
Z and Z″ put NetSol Technologies Inc. in different zones: grey zone by Z, safe 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 |
|---|---|
| RSSS Research Solutions Inc. compare | 2.3× |
| NTWK NetSol Technologies Inc. | 2.2× |
| AEYE Audioeye, Inc. compare | −0.8× |
| SCOR comScore, Inc. compare | −4.0× |
| RDZN Roadzen Inc. compare | −6.3× |
| NRDY Nerdy Inc. compare | −9.2× |
| RTB RTB Digital, Inc. compare | −23.2× |
| CTK CooTek (Cayman) Inc. Sponsored ADR compare | — |
| AIB AIB Data Centers 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