Avita Medical Inc.
RCEL Healthcare Medical Devices
Avita Medical Inc.’s revenue for fiscal 2025 (year ended December 2025) was $71.6 million, up 11.5% from fiscal 2024. In the quarter to June 2026, revenue grew 17.8%, EPS grew 33.8%, free cash flow grew 66.5% and total debt rose 10.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
Follow RCEL
Avita Medical Inc. (RCEL) Altman Z-score
Avita Medical Inc.'s Altman Z-score for fiscal 2025 is −11.96, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −11.96 | (4.80) |
| FY2024 | −7.16 | (4.01) |
| FY2023 | −3.15 | (0.17) |
| FY2022 | −2.98 | (16.88) |
| FY2021 | 13.90 | 14.33 |
| FY2021 | −0.43 | (17.07) |
| FY2020 | 16.65 | 18.58 |
| FY2020 | −1.94 | (1,406.32) |
| FY2019 | 1404.38 | 1,361.41 |
| FY2019 | 42.97 | 43.91 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.48) | — | −0.58 | |
| Retained earnings / total assets | (7.24) | — | −10.14 | |
| EBIT / total assets | (0.77) | — | −2.55 | |
| Market value of equity / total liabilities | 0.07 | — | 0.04 | |
| Sales / total assets | 1.27 | — | 1.27 | |
| Altman Z-score | Distress zone | −11.96 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −32.20 | ||
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 |
|---|---|
| CV CapsoVision, Inc. compare | 17.0× |
| VMD Viemed Healthcare, Inc. compare | 5.6× |
| INFU InfuSystems Holdings, Inc. compare | 3.7× |
| SI Shoulder Innovations, Inc. compare | 2.5× |
| OFIX ORTHOFIX MEDICAL INC. compare | 1.3× |
| CLPT ClearPoint Neuro, Inc. compare | 0.4× |
| QSI Quantum-Si Incorporated compare | 0.4× |
| TMCI Treace Medical Concepts, Inc. compare | −0.1× |
| RCEL Avita Medical Inc. | −12.0× |
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