Pixelworks, Inc.
PXLW Technology Semiconductors
In the quarter to June 2026, revenue fell 59.8%, EPS grew 65.4% and free cash flow grew 63.5%, each against the same quarter a year earlier.
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Pixelworks, Inc. (PXLW) Altman Z-score
Pixelworks, Inc.'s Altman Z-score for fiscal 2025 is −14.03, 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 | −14.03 | (3.31) |
| FY2024 | −10.71 | (4.79) |
| FY2023 | −5.92 | (1.57) |
| FY2022 | −4.35 | (1.27) |
| FY2021 | −3.07 | 1.58 |
| FY2020 | −4.65 | (2.24) |
| FY2019 | −2.41 | 0.46 |
| FY2018 | −2.86 | (0.67) |
| FY2017 | −2.19 | 9.54 |
| FY2016 | −11.74 | (3.38) |
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 | (10.31) | — | −14.43 | |
| EBIT / total assets | (0.23) | — | −0.74 | |
| Market value of equity / total liabilities | 0.71 | — | 0.43 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Distress zone | −14.03 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −31.21 | ||
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 |
|---|---|
| ICG Intchains Group Limited Unsponsored ADR compare | 12.0× |
| MX Magnachip Semiconductor Corp. compare | 2.0× |
| WQEY WISeQey Corp compare | 0.6× |
| NA Nano Labs Ltd. Sponsored ADR compare | 0.1× |
| SQNS Sequans Communications S.A. compare | −2.4× |
| MOBX Mobix Labs, Inc. compare | −8.9× |
| IPWR Ideal Power Inc. compare | −11.6× |
| LEDS SemiLEDS Corporation compare | −14.0× |
| PXLW Pixelworks, Inc. | −14.0× |
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