SAIHEAT Limited
SAIH Technology Information Technology Services
SAIHEAT Limited’s revenue for fiscal 2025 (year ended December 2025) was $4.5 million, down 18.4% from fiscal 2024.
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SAIHEAT Limited (SAIH) Altman Z-score
SAIHEAT Limited's Altman Z-score for fiscal 2025 is −3.78, 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 | −3.78 | (3.36) |
| FY2024 | −0.43 | (11.57) |
| FY2023 | 11.14 | (17.06) |
| FY2022 | 28.20 | 27.57 |
| FY2021 | 0.64 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.50 | — | 0.60 | |
| Retained earnings / total assets | (3.48) | — | −4.88 | |
| EBIT / total assets | (0.54) | — | −1.77 | |
| Market value of equity / total liabilities | 3.18 | — | 1.91 | |
| Sales / total assets | 0.36 | — | 0.36 | |
| Altman Z-score | Distress zone | −3.78 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −10.22 | ||
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 |
|---|---|
| CTM Castellum, Inc. compare | 7.9× |
| CSPI CSP Inc. compare | 4.2× |
| TTEC TeleTech Holdings, Inc. compare | 1.8× |
| CLPS CLPS Incorporation compare | 1.7× |
| JFU 9F Inc. Sponsored ADR compare | 0.9× |
| WYY WidePoint Corporation compare | 0.7× |
| SAIH SAIHEAT Limited | −3.8× |
| QXL Quantum X Labs Inc. compare | −5.4× |
| AIOS AIOS Tech Inc. compare | −26.8× |
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