Orgenesis Inc.
ORGS Healthcare Biotechnology
Orgenesis Inc.’s revenue for fiscal 2024 (year ended December 2024) was $1.0 million, up 95.3% from fiscal 2023. In the quarter to December 2024, revenue grew 82.4%, EPS fell 211.9% and free cash flow fell 317.9%, each against the same quarter a year earlier.
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Orgenesis Inc. (ORGS) Altman Z-score
Orgenesis Inc.'s Altman Z-score for fiscal 2024 is −352.42, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −352.42 | (322.53) |
| FY2023 | −29.89 | (28.93) |
| FY2022 | −0.96 | (0.33) |
| FY2021 | −0.64 | 2.10 |
| FY2020 | −2.73 | (1.62) |
| FY2019 | −1.11 | (0.38) |
| FY2018 | −0.74 | (0.43) |
| FY2018 | −0.31 | (12.16) |
| FY2017 | 11.85 | 13.35 |
| FY2017 | −1.50 | (0.01) |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (19.36) | — | −23.24 | |
| Retained earnings / total assets | (166.39) | — | −232.94 | |
| EBIT / total assets | (29.44) | — | −97.14 | |
| Market value of equity / total liabilities | 0.20 | — | 0.12 | |
| Sales / total assets | 0.77 | — | 0.77 | |
| Altman Z-score | Distress zone | −352.42 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −868.26 | ||
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 |
|---|---|
| CDIO Cardio Diagnostics Holdings, Inc. compare | −3.6× |
| CELZ Creative Medical Technology Holdings, Inc. compare | −4.3× |
| IMNN Imunon, Inc. compare | −12.5× |
| CANF Can-Fite Biopharma Ltd compare | −28.0× |
| BGMS Bio Green Med Solution, Inc. compare | −78.9× |
| TRAW Traws Pharma, Inc. compare | −89.5× |
| ORGS Orgenesis Inc. | −352× |
| NRSN NeuroSense Therapeutics Ltd. compare | — |
| ALZN Alzamend Neuro, 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