Redwire Corporation
RDW Industrials Aerospace & Defense
Redwire Corporation’s revenue for fiscal 2025 (year ended December 2025) was $335.4 million, up 10.3% from fiscal 2024. In the quarter to June 2026, revenue grew 89.6%, EPS grew 86.5%, free cash flow grew 62.2% and total debt fell 74.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Redwire Corporation (RDW) Altman Z-score
Redwire Corporation's Altman Z-score for fiscal 2025 is 0.59, 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 | 0.59 | 0.43 |
| FY2024 | 0.16 | 0.32 |
| FY2023 | −0.16 | 1.93 |
| FY2022 | −2.08 | (2.52) |
| FY2021 | 0.43 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.07 | — | 0.08 | |
| Retained earnings / total assets | (0.43) | — | −0.60 | |
| EBIT / total assets | (0.16) | — | −0.52 | |
| Market value of equity / total liabilities | 2.33 | — | 1.40 | |
| Sales / total assets | 0.23 | — | 0.23 | |
| Altman Z-score | Distress zone | 0.59 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.84 | ||
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 |
|---|---|
| ACHR Archer Aviation Inc. compare | 9.4× |
| ATRO Astronics Corporation compare | 4.5× |
| MOG.B Moog Inc. compare | 4.0× |
| DCO Ducommun Incorporated compare | 3.2× |
| VVX V2X, Inc. compare | 2.3× |
| VOYG Voyager Technologies, Inc. compare | 0.8× |
| FLY Firefly Aerospace, Inc. compare | 0.8× |
| RDW Redwire Corporation | 0.6× |
| LUNR Intuitive Machines, Inc. compare | 0.1× |
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