Oculis Holding AG
Oculis Holding AG’s revenue for fiscal 2025 (year ended December 2025) was $1.4 million, up 85.7% from fiscal 2024. In the quarter to June 2026, revenue grew 24.0%, EPS grew 66.1%, free cash flow fell 10.4% and total debt rose 159.8%, each against the same quarter a year earlier.
Follow OCS
Oculis Holding AG (OCS) Altman Z-score
Oculis Holding AG's Altman Z-score for fiscal 2025 is 10.51, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 10.51 | 7.50 |
| FY2024 | 3.01 | (1.86) |
| FY2023 | 4.86 | 11.41 |
| FY2022 | −6.55 | (5.10) |
| FY2021 | −1.45 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.77 | — | 0.93 | |
| Retained earnings / total assets | (1.63) | — | −2.28 | |
| EBIT / total assets | (0.35) | — | −1.14 | |
| Market value of equity / total liabilities | 21.67 | — | 13.00 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Safe zone | 10.51 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.59 | ||
Z and Z″ put Oculis Holding AG in different zones: safe zone by Z, grey 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 |
|---|---|
| OCS Oculis Holding AG | 10.5× |
| ALT Altimmune, Inc. compare | 0.2× |
| CBIO Crescent Biopharma, Inc. compare | −0.1× |
| ARVN Arvinas, Inc. compare | −0.6× |
| RGNX REGENXBIO Inc. compare | −2.6× |
| AUTL Autolus Therapeutics PLC Sponsored ADR compare | −3.2× |
| ALLO Allogene Therapeutics, Inc. compare | −3.7× |
| MPLT MapLight Therapeutics, Inc. compare | — |
| EPRX Eupraxia Pharmaceuticals 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