Smart Digital Group Limited
SDM Communication Services Advertising Agencies
Smart Digital Group Limited’s revenue for fiscal 2025 (year ended September 2025) was $37.2 million, up 72.9% from fiscal 2024. Revenue growth for three consecutive years.
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Smart Digital Group Limited (SDM) Altman Z-score
Smart Digital Group Limited's Altman Z-score for fiscal 2025 is −3.19, 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 | −3.19 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.43 | — | 0.52 | |
| Retained earnings / total assets | (2.16) | — | −3.03 | |
| EBIT / total assets | (2.61) | — | −8.60 | |
| Market value of equity / total liabilities | 8.95 | — | 5.37 | |
| Sales / total assets | 2.55 | — | 2.55 | |
| Altman Z-score | Distress zone | −3.19 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −20.06 | ||
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 |
|---|---|
| QNST QuinStreet, Inc. compare | 3.2× |
| NCMI National CineMedia, Inc. compare | 3.2× |
| CRTO Criteo S.A. compare | 2.4× |
| NEXN Nexxen International Ltd. Sponsored ADR compare | 1.9× |
| ADV Advantage Solutions Inc. compare | 0.0× |
| TJGC TJGC Group Limited compare | −1.4× |
| EVC Entravision Communications Corporation compare | −1.6× |
| SDM Smart Digital Group Limited | −3.2× |
| QUOT Quotient Technology 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