Aaron's Holdings Company, Inc.
PRG Industrials Rental & Leasing Services
Aaron's Holdings Company, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 22.3%, EPS fell 4.17%, free cash flow grew 48.4% and total debt rose 49.3%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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Aaron's Holdings Company, Inc. (PRG) Altman Z-score
Aaron's Holdings Company, Inc.'s Altman Z-score for fiscal 2025 is 4.83, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.83 | (0.40) |
| FY2024 | 5.23 | 0.39 |
| FY2023 | 4.84 | 0.44 |
| FY2022 | 4.40 | (1.34) |
| FY2021 | 5.73 | (5.23) |
| FY2020 | 10.97 | 7.98 |
| FY2019 | 2.99 | (0.72) |
| FY2018 | 3.71 | (0.76) |
| FY2017 | 4.46 | 0.62 |
| FY2016 | 3.85 | 0.62 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.59 | — | 0.71 | |
| Retained earnings / total assets | 0.99 | — | 1.39 | |
| EBIT / total assets | 0.13 | — | 0.42 | |
| Market value of equity / total liabilities | 1.37 | — | 0.82 | |
| Sales / total assets | 1.50 | — | 1.50 | |
| Altman Z-score | Safe zone | 4.83 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.85 | ||
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 |
|---|---|
| PRG Aaron's Holdings Company, Inc. | 4.8× |
| MGRC McGrath RentCorp compare | 2.5× |
| VSTS Vestis Corporation compare | 1.3× |
| WLFC Willis Lease Finance Corporation compare | 0.9× |
| CTOS Custom Truck One Source, Inc. compare | 0.8× |
| WSC WillScot Holdings Corporation compare | 0.7× |
| CAR Avis Budget Group, Inc. compare | 0.5× |
| HTZ Hertz Global Holdings, Inc. compare | 0.3× |
| EQPT EquipmentShare.com 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