Roivant Sciences Ltd.
ROIV Healthcare Biotechnology
In the quarter to June 2026, revenue fell 33.6%, EPS grew 21.2% and free cash flow fell 30.0%, each against the same quarter a year earlier.
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Roivant Sciences Ltd. (ROIV) Altman Z-score
Roivant Sciences Ltd.'s Altman Z-score for fiscal 2026 is 28.31, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 28.31 | 10.23 |
| FY2025 | 18.08 | 8.44 |
| FY2024 | 9.65 | 8.65 |
| FY2023 | 0.99 | (0.35) |
| FY2022 | 1.34 | (3.89) |
| FY2021 | 5.24 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.86 | — | 1.03 | |
| Retained earnings / total assets | (0.09) | — | −0.12 | |
| EBIT / total assets | (0.09) | — | −0.30 | |
| Market value of equity / total liabilities | 46.17 | — | 27.70 | |
| Sales / total assets | 0.00 | — | 0.00 | |
| Altman Z-score | Safe zone | 28.31 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 18.07 | ||
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 |
|---|---|
| ROIV Roivant Sciences Ltd. | 28.3× |
| EXEL Exelixis, Inc. compare | 12.7× |
| INSM Insmed, Inc. compare | 9.3× |
| INCY Incyte Corporation compare | 8.6× |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 7.3× |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | 5.3× |
| GMAB Genmab A/S Sponsored ADR compare | 2.8× |
| RPRX Royalty Pharma PLC compare | 1.6× |
| BNTX BioNTech SE Sponsored ADR 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