RideNow Group, Inc.
RDNW Consumer Cyclical Auto & Truck Dealerships
RideNow Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 10.5% from fiscal 2024. In the quarter to June 2026, revenue fell 1.03%, EPS grew 120.0%, free cash flow fell 122.4% and total debt fell 2.43%, each against the same quarter a year earlier.
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RideNow Group, Inc. (RDNW) Altman Z-score
RideNow Group, Inc.'s Altman Z-score for fiscal 2025 is 0.38, 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 | 0.38 | (0.17) |
| FY2024 | 0.55 | 0.00 |
| FY2023 | 0.55 | 0.23 |
| FY2022 | 0.32 | (0.82) |
| FY2021 | 1.15 | (2.15) |
| FY2020 | 3.30 | (2.15) |
| FY2019 | 5.44 | 4.45 |
| FY2018 | 0.99 | (6.13) |
| FY2017 | 7.12 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.06 | — | 0.07 | |
| Retained earnings / total assets | (1.06) | — | −1.48 | |
| EBIT / total assets | 0.00 | — | −0.00 | |
| Market value of equity / total liabilities | 0.31 | — | 0.18 | |
| Sales / total assets | 1.61 | — | 1.61 | |
| Altman Z-score | Distress zone | 0.38 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.10 | ||
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 |
|---|---|
| SDA SunCar Technology Group Inc. compare | 1.8× |
| CWH Camping World compare | 1.6× |
| ACVA ACV Auctions Inc. compare | 1.3× |
| RDNW RideNow Group, Inc. | 0.4× |
| CZOOF Cazoo Group Ltd. compare | −2.7× |
| JZXN Jiuzi Holdings, Inc. compare | −7.1× |
| UXIN Uxin Limited Sponsored ADR compare | −9.4× |
| KXIN Kaixin Holdings compare | −12.4× |
| AZI Autozi Internet Technology (Global) Ltd. compare | −13.8× |
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