stockrowESGL Holdings Limited
OIO Industrials Waste Management
ESGL Holdings Limited’s revenue for fiscal 2025 (year ended December 2025) was $6.2 million, down 5.65% from fiscal 2024.
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ESGL Holdings Limited (OIO) Altman Z-score
ESGL Holdings Limited's Altman Z-score for fiscal 2025 is 1.81, 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) |
|---|---|---|
| FY2025 | 1.81 | 5.52 |
| FY2024 | −3.71 | 2.18 |
| FY2023 | −5.88 | (8.38) |
| FY2022 | 2.49 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.32) | — | −0.39 | |
| Retained earnings / total assets | (4.07) | — | −5.70 | |
| EBIT / total assets | (0.18) | — | −0.59 | |
| Market value of equity / total liabilities | 13.75 | — | 8.25 | |
| Sales / total assets | 0.24 | — | 0.24 | |
| Altman Z-score | Grey zone | 1.81 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −15.42 | ||
Z and Z″ put ESGL Holdings Limited in different zones: grey 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 |
|---|---|
| ABAT American Battery Technology Company compare | 28.9× |
| CWST Casella Waste Systems, Inc. compare | 2.7× |
| PESI Perma-Fix Environmental Services, Inc. compare | 2.4× |
| NVRI Enviri Corporation compare | 1.9× |
| OIO ESGL Holdings Limited | 1.8× |
| ONT Onterris, Inc. compare | 1.6× |
| ENGS Energys Group Limited compare | −0.2× |
| AREC American Resources Corporation compare | −1.7× |
| LNZA LanzaTech Global, Inc. compare | −16.0× |
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