Protalix BioTherapeutics, Inc.
Protalix BioTherapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $52.7 million, down 1.23% from fiscal 2024. In the quarter to June 2026, revenue grew 27.1%, EPS grew 2,281.0% and free cash flow fell 94.1%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Protalix BioTherapeutics, Inc. (PLX) Altman Z-score
Protalix BioTherapeutics, Inc.'s Altman Z-score for fiscal 2025 is −3.05, 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 | −3.05 | (0.01) |
| FY2024 | −3.04 | 0.34 |
| FY2023 | −3.38 | 5.45 |
| FY2022 | −8.83 | (2.05) |
| FY2021 | −6.78 | (0.81) |
| FY2020 | −5.98 | 4.06 |
| FY2019 | −10.04 | (2.95) |
| FY2018 | −7.09 | (1.23) |
| FY2017 | −5.85 | (1.39) |
| FY2016 | −4.46 | (2.66) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.49 | — | 0.59 | |
| Retained earnings / total assets | (4.68) | — | −6.55 | |
| EBIT / total assets | (0.07) | — | −0.22 | |
| Market value of equity / total liabilities | 4.14 | — | 2.49 | |
| Sales / total assets | 0.64 | — | 0.64 | |
| Altman Z-score | Distress zone | −3.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −11.01 | ||
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 |
|---|---|
| KROS Keros Therapeutics, Inc. compare | 13.5× |
| EVMN Evommune Inc. compare | 1.5× |
| CAMP CAMP4 Therapeutics Corporation compare | −2.3× |
| ZNTL Zentalis Pharmaceuticals, Inc. compare | −2.4× |
| PLX Protalix BioTherapeutics, Inc. | −3.1× |
| ALEC Alector, Inc. compare | −5.2× |
| MGNX MacroGenics, Inc. compare | −6.0× |
| PYXS Pyxis Oncology, Inc. compare | −7.9× |
| IFRX InflaRx N.V. compare | −9.1× |
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