Redhill Biopharma Ltd.
RDHL Healthcare Drug Manufacturers Specialty & Generic
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Redhill Biopharma Ltd. (RDHL) Altman Z-score
Redhill Biopharma Ltd.'s Altman Z-score for fiscal 2025 is −24.39, 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 | −24.39 | 9.02 |
| FY2024 | −33.41 | (10.80) |
| FY2023 | −22.61 | (17.46) |
| FY2022 | −5.14 | (1.76) |
| FY2021 | −3.38 | (1.43) |
| FY2020 | −1.94 | (4.53) |
| FY2019 | 2.59 | 0.58 |
| FY2018 | 2.01 | 2.89 |
| FY2017 | −0.89 | (5.88) |
| FY2016 | 5.00 | (6.31) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.50) | — | −0.60 | |
| Retained earnings / total assets | (16.32) | — | −22.85 | |
| EBIT / total assets | (0.31) | — | −1.03 | |
| Market value of equity / total liabilities | 0.15 | — | 0.09 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Distress zone | −24.39 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −58.40 | ||
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 |
|---|---|
| GELS Gelteq Limited compare | 0.4× |
| PRFX PainReform Ltd. compare | −7.9× |
| INM InMed Pharmaceuticals Inc. compare | −10.3× |
| SNOA Sonoma Pharmaceuticals, Inc. compare | −18.5× |
| YCBD cbdMD, Inc. compare | −21.7× |
| RDHL Redhill Biopharma Ltd. | −24.4× |
| BTAIQ BioXcel Therapeutics, Inc. compare | −26.3× |
| AKAN Akanda Corp. compare | −26.4× |
| APUS Apimeds Pharmaceuticals US, 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