ORTHOFIX MEDICAL INC.
OFIX Healthcare Medical Devices
ORTHOFIX MEDICAL INC.’s revenue for fiscal 2025 (year ended December 2025) was $822.3 million, up 2.85% from fiscal 2024. In the quarter to June 2026, revenue grew 3.85%, EPS fell 8.33%, free cash flow fell 516.6% and total debt rose 34.4%, 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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ORTHOFIX MEDICAL INC. (OFIX) Altman Z-score
ORTHOFIX MEDICAL INC.'s Altman Z-score for fiscal 2025 is 1.29, 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 | 1.29 | (0.24) |
| FY2024 | 1.53 | 0.20 |
| FY2023 | 1.32 | (2.07) |
| FY2022 | 3.39 | (0.63) |
| FY2021 | 4.02 | (0.19) |
| FY2020 | 4.21 | (0.30) |
| FY2019 | 4.51 | (1.78) |
| FY2018 | 6.29 | (1.33) |
| FY2017 | 7.62 | 2.11 |
| FY2016 | 5.51 | (0.19) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.29 | — | 0.35 | |
| Retained earnings / total assets | (0.43) | — | −0.61 | |
| EBIT / total assets | (0.10) | — | −0.32 | |
| Market value of equity / total liabilities | 1.50 | — | 0.90 | |
| Sales / total assets | 0.97 | — | 0.97 | |
| Altman Z-score | Distress zone | 1.29 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 1.02 | ||
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 |
|---|---|
| CV CapsoVision, Inc. compare | 17.0× |
| VMD Viemed Healthcare, Inc. compare | 5.6× |
| BWAY Brainsway Ltd. Sponsored ADR compare | 2.8× |
| SI Shoulder Innovations, Inc. compare | 2.5× |
| OFIX ORTHOFIX MEDICAL INC. | 1.3× |
| NPCE NeuroPace, Inc. compare | −2.5× |
| CERS Cerus Corporation compare | −4.0× |
| SENS Senseonics Holdings, Inc. compare | −9.8× |
| RCEL Avita Medical Inc. compare | −12.0× |
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