Ovid Therapeutics
OVID Healthcare Biotechnology
Ovid Therapeutics' revenue for fiscal 2025 (year ended December 2025) was $7.3 million, up 1,181.3% from fiscal 2024. In the quarter to June 2026, revenue grew 463.9%, EPS fell 33.3%, free cash flow fell 268.5% and total debt fell 11.7%, each against the same quarter a year earlier.
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Ovid Therapeutics (OVID) Altman Z-score
Ovid Therapeutics's Altman Z-score for fiscal 2025 is 0.22, 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 | 0.22 | 4.80 |
| FY2024 | −4.58 | (3.77) |
| FY2023 | −0.81 | (1.99) |
| FY2022 | 1.18 | (10.64) |
| FY2021 | 11.81 | 17.27 |
| FY2020 | −5.45 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.44 | — | 0.53 | |
| Retained earnings / total assets | (2.13) | — | −2.98 | |
| EBIT / total assets | (0.28) | — | −0.93 | |
| Market value of equity / total liabilities | 5.93 | — | 3.56 | |
| Sales / total assets | 0.05 | — | 0.05 | |
| Altman Z-score | Distress zone | 0.22 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.80 | ||
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 compare | 10.5× |
| DMAC DiaMedica Therapeutics, Inc. compare | 6.7× |
| OVID Ovid Therapeutics | 0.2× |
| PRTA Prothena Corporation plc compare | −0.2× |
| AUTL Autolus Therapeutics PLC Sponsored ADR compare | −3.2× |
| PROK ProKidney Corp. compare | −5.9× |
| INDP Indaptus Therapeutics, Inc. compare | — |
| 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