Power Solutions International, Inc.
PSIX Industrials Specialty Industrial Machinery
Power Solutions International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $722.4 million, up 51.8% from fiscal 2024. In the quarter to June 2026, revenue fell 20.5%, EPS fell 67.3%, free cash flow grew 280.8% and total debt rose 4,831.6%, each against the same quarter a year earlier.
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Power Solutions International, Inc. (PSIX) Altman Z-score
Power Solutions International, Inc.'s Altman Z-score for fiscal 2025 is 6.40, 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 | 6.40 | 2.86 |
| FY2024 | 3.54 | 2.29 |
| FY2023 | 1.25 | 0.44 |
| FY2022 | 0.82 | 0.77 |
| FY2021 | 0.05 | (0.44) |
| FY2020 | 0.49 | (1.38) |
| FY2019 | 1.87 | 0.91 |
| FY2018 | 0.96 | (0.55) |
| FY2017 | 1.50 | 0.12 |
| FY2016 | 1.39 | (0.45) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.47 | — | 0.56 | |
| Retained earnings / total assets | 0.05 | — | 0.07 | |
| EBIT / total assets | 0.26 | — | 0.85 | |
| Market value of equity / total liabilities | 5.34 | — | 3.21 | |
| Sales / total assets | 1.70 | — | 1.70 | |
| Altman Z-score | Safe zone | 6.40 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.74 | ||
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 |
|---|---|
| KRNT Kornit Digital Ltd. compare | 7.5× |
| PSIX Power Solutions International, Inc. | 6.4× |
| EPAC Enerpac Tool Group Corp. compare | 5.6× |
| GHM Graham Corporation compare | 4.2× |
| AMSC American Superconductor Corporation compare | 3.8× |
| TNC Tennant Company compare | 3.3× |
| ATS ATS Corporation compare | 2.1× |
| BW Babcock compare | −1.9× |
| NNE Nano Nuclear Energy 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