Palisade Bio, Inc.
PALI Healthcare Biotechnology
Palisade Bio, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $250,000.00. In the quarter to June 2026, revenue grew 19,900.0%, EPS grew 91.4% and free cash flow fell 318.4%, 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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Palisade Bio, Inc. (PALI) Altman Z-score
Palisade Bio, Inc.'s Altman Z-score for fiscal 2023 is −13.36, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −13.36 | 30.34 |
| FY2020 | −43.69 | 6.11 |
| FY2019 | −49.80 | (9.25) |
| FY2018 | −40.56 | (19.04) |
| FY2017 | −21.51 | (8.95) |
| FY2016 | −12.57 | (0.04) |
| FY2015 | −12.53 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.76 | — | 0.92 | |
| Retained earnings / total assets | (8.65) | — | −12.11 | |
| EBIT / total assets | (0.93) | — | −3.07 | |
| Market value of equity / total liabilities | 1.47 | — | 0.88 | |
| Sales / total assets | 0.02 | — | 0.02 | |
| Altman Z-score | Distress zone | −13.36 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −25.09 | ||
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 |
|---|---|
| EYPT EyePoint, Inc. compare | 8.5× |
| XFOR X4 Pharmaceuticals, Inc. compare | −1.8× |
| ABEO Abeona Therapeutics Inc. compare | −2.3× |
| IPSC Century Therapeutics, Inc. compare | −3.4× |
| PRLD Prelude Therapeutics Incorporated compare | −6.8× |
| PALI Palisade Bio, Inc. | −13.4× |
| OCGN Ocugen, Inc. compare | −13.4× |
| NAUT Nautilus Biotechnology, Inc. compare | — |
| CABA Cabaletta Bio, 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