PagerDuty
PD Technology Software Application
PagerDuty’s revenue for fiscal 2026 (year ended January 2026) was $492.5 million, up 5.36% from fiscal 2025. In the quarter to July 2026, revenue was flat, EPS fell 45.5%, free cash flow grew 8.53% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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PagerDuty (PD) Altman Z-score
PagerDuty's Altman Z-score for fiscal 2026 is 1.08, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 1.08 | (0.04) |
| FY2025 | 1.12 | (0.46) |
| FY2024 | 1.57 | (0.77) |
| FY2023 | 2.35 | (0.71) |
| FY2022 | 3.05 | (2.64) |
| FY2021 | 5.69 | (1.69) |
| FY2020 | 7.38 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.31 | — | 0.37 | |
| Retained earnings / total assets | (0.43) | — | −0.60 | |
| EBIT / total assets | 0.01 | — | 0.02 | |
| Market value of equity / total liabilities | 1.31 | — | 0.79 | |
| Sales / total assets | 0.50 | — | 0.50 | |
| Altman Z-score | Distress zone | 1.08 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 1.05 | ||
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 |
|---|---|
| RDVT Red Violet, Inc. compare | 45.1× |
| WRD WeRide Inc. compare | 9.9× |
| DFIN Donnelley Financial Solutions compare | 4.4× |
| LSPD Lightspeed Commerce Inc. compare | 2.7× |
| ALKT Alkami Technology, Inc. compare | 2.6× |
| CXM Sprinklr, Inc. compare | 1.8× |
| PD PagerDuty | 1.1× |
| GTM ZoomInfo Technologies Inc. compare | 0.8× |
| APPS Digital Turbine, Inc. compare | 0.0× |
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