Oatly Group AB Sponsored ADR
OTLY Consumer Defensive Packaged Foods
Oatly Group AB Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $862.5 million, up 4.71% from fiscal 2024. In the quarter to June 2026, revenue grew 15.2%, EPS grew 46.8%, free cash flow grew 89.3% and total debt rose 257.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Oatly Group AB Sponsored ADR (OTLY) Altman Z-score
Oatly Group AB Sponsored ADR's Altman Z-score for fiscal 2025 is −1.87, 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 | −1.87 | 0.06 |
| FY2024 | −1.93 | (0.38) |
| FY2023 | −1.55 | (1.87) |
| FY2022 | 0.32 | (6.62) |
| FY2021 | 6.95 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.37) | — | −0.45 | |
| Retained earnings / total assets | (1.78) | — | −2.49 | |
| EBIT / total assets | (0.09) | — | −0.28 | |
| Market value of equity / total liabilities | 0.42 | — | 0.25 | |
| Sales / total assets | 1.10 | — | 1.10 | |
| Altman Z-score | Distress zone | −1.87 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −8.77 | ||
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 |
|---|---|
| LWAY Lifeway Foods, Inc. compare | 15.1× |
| MAMA Mama's Creations, Inc. compare | 13.4× |
| NATR Nature's Sunshine Products, Inc. compare | 5.4× |
| USNA USANA Health Sciences, Inc. compare | 3.6× |
| BGS B&G Foods, Inc. compare | 1.3× |
| BRCC BRC Inc. compare | 1.2× |
| OTLY Oatly Group AB Sponsored ADR | −1.9× |
| PRE Prenetics Global Limited compare | — |
| ENHA Enhanced Group 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