Palvella Therapeutics, Inc.
PVLA Healthcare Biotechnology
In the quarter to June 2026, EPS fell 76.7% and free cash flow fell 136.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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Palvella Therapeutics, Inc. (PVLA) Altman Z-score
Palvella Therapeutics, Inc.'s Altman Z-score for fiscal 2022 is −4.34, 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 | −11.49 | (7.15) |
| FY2022 | −4.34 | (3.11) |
| FY2021 | −1.23 | 0.66 |
| FY2020 | −1.89 | (1.83) |
| FY2019 | −0.06 | 0.33 |
| FY2018 | −0.39 | (1.22) |
| FY2017 | 0.82 | 2.49 |
| FY2016 | −1.67 | (14.90) |
| FY2015 | 13.23 | — |
How fiscal 2022’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.39 | — | 0.46 | |
| Retained earnings / total assets | (3.04) | — | −4.26 | |
| EBIT / total assets | (0.46) | — | −1.50 | |
| Market value of equity / total liabilities | 1.14 | — | 0.69 | |
| Sales / total assets | 0.27 | — | 0.27 | |
| Altman Z-score | Distress zone | −4.34 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −10.01 | ||
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 |
|---|---|
| ZYME Zymeworks Inc. compare | 11.6× |
| MESO Mesoblast Limited compare | 3.4× |
| XNCR Xencor, Inc. compare | 1.7× |
| MRVI Maravai LifeSciences Holdings, Inc. compare | 0.4× |
| VIR Vir Biotechnology, Inc. compare | −0.6× |
| SRPT Sarepta Therapeutics, Inc. compare | −1.0× |
| URGN Urogen Pharma compare | −5.2× |
| PVLA Palvella Therapeutics, Inc. | −11.5× |
| MLYS Mineralys Therapeutics, 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