Rio Tinto PLC
RIO Basic Materials Other Industrial Metals & Mining
Rio Tinto PLC’s revenue for fiscal 2025 (year ended December 2025) was $57.6 billion, up 7.42% from fiscal 2024.
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Rio Tinto PLC (RIO) Altman Z-score
Rio Tinto PLC's Altman Z-score for fiscal 2025 is 2.69, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.69 | (0.29) |
| FY2024 | 2.99 | (0.19) |
| FY2023 | 3.18 | (0.23) |
| FY2022 | 3.41 | (0.17) |
| FY2021 | 3.58 | 0.41 |
| FY2020 | 3.16 | 0.29 |
| FY2019 | 2.88 | 0.03 |
| FY2018 | 2.84 | 0.19 |
| FY2017 | 2.65 | 0.64 |
| FY2016 | 2.01 | 0.35 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.05 | — | 0.06 | |
| Retained earnings / total assets | 0.36 | — | 0.51 | |
| EBIT / total assets | 0.12 | — | 0.39 | |
| Market value of equity / total liabilities | 2.13 | — | 1.28 | |
| Sales / total assets | 0.45 | — | 0.45 | |
| Altman Z-score | Grey zone | 2.69 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.48 | ||
Z and Z″ put Rio Tinto PLC in different zones: grey zone by Z, safe zone by Z″.
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 |
|---|---|
| ALM Almonty Industries Inc. compare | 6.3× |
| MP MP Materials Corp. compare | 4.1× |
| MTRN Materion Corporation compare | 4.1× |
| BHP BHP Group Limited Sponsored ADR compare | 3.8× |
| USAR USA Rare Earth Inc. compare | 3.2× |
| RIO Rio Tinto PLC | 2.7× |
| VALE VALE S.A. compare | 1.6× |
| NEXA Nexa Resources S.A. compare | 0.7× |
| SKE Skeena Resources Limited 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