uniQure N.V.
QURE Healthcare Biotechnology
uniQure N.V.’s revenue for fiscal 2025 (year ended December 2025) was $16.1 million, down 40.6% from fiscal 2024. In the quarter to June 2026, revenue grew 11.0%, EPS fell 76.8%, free cash flow grew 27.7% and total debt fell 3.27%, each against the same quarter a year earlier.
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uniQure N.V. (QURE) Altman Z-score
uniQure N.V.'s Altman Z-score for fiscal 2025 is −0.80, 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 | −0.80 | 1.42 |
| FY2024 | −2.22 | (0.76) |
| FY2023 | −1.46 | (3.24) |
| FY2022 | 1.78 | (2.90) |
| FY2021 | 4.69 | (1.79) |
| FY2020 | 6.47 | (5.23) |
| FY2019 | 11.71 | 7.98 |
| FY2018 | 3.73 | 4.50 |
| FY2017 | −0.78 | 1.83 |
| FY2016 | −2.60 | (2.57) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.72 | — | 0.86 | |
| Retained earnings / total assets | (1.61) | — | −2.26 | |
| EBIT / total assets | (0.22) | — | −0.74 | |
| Market value of equity / total liabilities | 2.20 | — | 1.32 | |
| Sales / total assets | 0.02 | — | 0.02 | |
| Altman Z-score | Distress zone | −0.80 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.71 | ||
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 |
|---|---|
| STOK Stoke Therapeutics, Inc. compare | 16.4× |
| OCUL Ocular Therapeutix, Inc. compare | 6.9× |
| ABSI Absci Corporation compare | 5.5× |
| IMCR Immunocore Holdings PLC Sponsored ADR compare | 1.5× |
| QURE uniQure N.V. | −0.8× |
| NTLA Intellia Therapeutics, Inc. compare | −1.9× |
| KRSA Korsana Biosciences, Inc. compare | −36.3× |
| MAZE Maze Therapeutics, Inc. compare | — |
| GPCR Structure Therapeutics Inc. Sponsored ADR 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