Kidpik Corp.
PIKM Consumer Cyclical Internet Retail
Kidpik Corp.’s revenue for fiscal 2023 (year ended December 2023) was $14.2 million, down 13.6% from fiscal 2022. Operating cash flow growth for three consecutive years.
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Kidpik Corp. (PIKM) Altman Z-score
Kidpik Corp.'s Altman Z-score for fiscal 2023 is −12.53, 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 | −12.53 | (9.05) |
| FY2022 | −3.48 | (2.85) |
| FY2021 | −0.63 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.10 | — | 0.12 | |
| Retained earnings / total assets | (7.23) | — | −10.12 | |
| EBIT / total assets | (1.39) | — | −4.59 | |
| Market value of equity / total liabilities | 0.10 | — | 0.06 | |
| Sales / total assets | 2.00 | — | 2.00 | |
| Altman Z-score | Distress zone | −12.53 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −32.07 | ||
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 |
|---|---|
| JWEL Jowell Global Ltd. compare | 4.8× |
| OCG Oriental Culture Holding LTD compare | 1.9× |
| NHTC Natural Health Trends Corp. compare | 1.6× |
| UZX Linkage Global Inc. compare | 1.5× |
| SBDS Solo Brands, Inc. compare | −1.1× |
| WBUY WeBuy Global Ltd. compare | −3.3× |
| YJ Yunji Inc. Sponsored ADR compare | −7.3× |
| PIKM Kidpik Corp. | −12.5× |
| MOGU MOGU Inc. Sponsored ADR compare | −15.0× |
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