NextPlat Corp.
NXPL Technology Software Application
In the quarter to June 2026, revenue fell 10.3%, EPS grew 92.9%, free cash flow grew 217.8% and total debt fell 33.0%, each against the same quarter a year earlier.
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NextPlat Corp. (NXPL) Altman Z-score
NextPlat Corp.'s Altman Z-score for fiscal 2025 is −0.67, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.67 | (0.73) |
| FY2024 | 0.06 | (0.18) |
| FY2023 | 0.24 | (1.14) |
| FY2022 | 1.39 | (0.01) |
| FY2021 | 1.40 | 9.15 |
| FY2020 | −7.75 | (2.07) |
| FY2019 | −5.68 | (0.82) |
| FY2018 | −4.86 | (1.87) |
| FY2017 | −3.00 | (2.36) |
| FY2016 | −0.63 | (391,287.91) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.55 | — | 0.66 | |
| Retained earnings / total assets | (2.19) | — | −3.06 | |
| EBIT / total assets | (0.33) | — | −1.08 | |
| Market value of equity / total liabilities | 1.40 | — | 0.84 | |
| Sales / total assets | 1.98 | — | 1.98 | |
| Altman Z-score | Distress zone | −0.67 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.92 | ||
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 |
|---|---|
| BMR Beamr Imaging Ltd. compare | 11.4× |
| VTSI VirTra, Inc. compare | 2.7× |
| INLX Intellinetics, Inc. compare | 2.2× |
| ZENVF Zenvia Inc. compare | 0.3× |
| CREX Creative Realities, Inc. compare | −0.3× |
| PDC Earlyworks Co., Ltd. Unsponsored ADR compare | −0.6× |
| NXPL NextPlat Corp. | −0.7× |
| STIXF Semantix, Inc. compare | −1.0× |
| FTFT Future FinTech Group Inc. compare | −6.6× |
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