Roadzen Inc.
RDZN Technology Software Application
Roadzen Inc.’s revenue for fiscal 2026 (year ended March 2026) was $55.0 million, up 24.2% from fiscal 2025. In the quarter to June 2026, revenue grew 49.0%, EPS fell 140.0%, free cash flow fell 85.8% and total debt rose 39.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Roadzen Inc. (RDZN) Altman Z-score
Roadzen Inc.'s Altman Z-score for fiscal 2026 is −6.27, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −6.27 | 8.51 |
| FY2025 | −14.77 | (9.71) |
| FY2024 | −5.07 | 0.63 |
| FY2023 | −5.69 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.49) | — | −0.59 | |
| Retained earnings / total assets | (4.68) | — | −6.55 | |
| EBIT / total assets | (0.27) | — | −0.88 | |
| Market value of equity / total liabilities | 1.17 | — | 0.70 | |
| Sales / total assets | 1.04 | — | 1.04 | |
| Altman Z-score | Distress zone | −6.27 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −20.63 | ||
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 |
|---|---|
| RSSS Research Solutions Inc. compare | 2.3× |
| NTWK NetSol Technologies Inc. compare | 2.2× |
| SSTI SoundThinking, Inc. compare | 0.3× |
| AEYE Audioeye, Inc. compare | −0.8× |
| BVC BitVentures Limited compare | −1.3× |
| RDZN Roadzen Inc. | −6.3× |
| NRDY Nerdy Inc. compare | −9.2× |
| RTB RTB Digital, Inc. compare | −23.2× |
| AIB AIB Data Centers 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