PLANET GREEN HOLDINGS CORP.
PLAG Industrials Conglomerates
In the quarter to June 2026, revenue grew 25,390.3%, EPS grew 27.3%, free cash flow fell 200.7% and total debt fell 99.9%, each against the same quarter a year earlier.
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PLANET GREEN HOLDINGS CORP. (PLAG) Altman Z-score
PLANET GREEN HOLDINGS CORP.'s Altman Z-score for fiscal 2025 is −29.38, 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 | −29.38 | (21.98) |
| FY2024 | −7.40 | (3.59) |
| FY2023 | −3.81 | (2.49) |
| FY2022 | −1.33 | (0.33) |
| FY2021 | −0.99 | 0.39 |
| FY2020 | −1.39 | (0.25) |
| FY2019 | −1.14 | 3.98 |
| FY2018 | −5.12 | (0.64) |
| FY2017 | −4.48 | (4.13) |
| FY2016 | −0.35 | (2.14) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.69) | — | −0.83 | |
| Retained earnings / total assets | (17.14) | — | −24.00 | |
| EBIT / total assets | (1.73) | — | −5.70 | |
| Market value of equity / total liabilities | 1.43 | — | 0.86 | |
| Sales / total assets | 0.30 | — | 0.30 | |
| Altman Z-score | Distress zone | −29.38 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −72.23 | ||
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 |
|---|---|
| HHS Harte Hanks, Inc. compare | 14.6× |
| MAMK MaxsMaking Inc. compare | 7.4× |
| LGPS LogProstyle Inc. compare | 1.7× |
| BOOM DMC Global compare | 1.5× |
| AIRT Air T, Inc. compare | 1.3× |
| ALPP Alpine 4 Holdings, Inc. compare | 0.7× |
| TUSK Mammoth Energy Services, Inc. compare | −0.5× |
| STRR Star Equity Holdings, Inc. compare | −3.2× |
| PLAG PLANET GREEN HOLDINGS CORP. | −29.4× |
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