Origin Agritech Limited
SEED Basic Materials Agricultural Inputs
Origin Agritech Limited’s revenue for fiscal 2025 (year ended September 2025) was $12.8 million, down 20.6% from fiscal 2024.
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Origin Agritech Limited (SEED) Altman Z-score
Origin Agritech Limited's Altman Z-score for fiscal 2025 is −10.56, 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 | −10.56 | (3.99) |
| FY2024 | −6.57 | (2.66) |
| FY2023 | −3.92 | 3.95 |
| FY2022 | −7.87 | 3.00 |
| FY2021 | −10.86 | (7.21) |
| FY2020 | −3.65 | (0.32) |
| FY2019 | −3.33 | (1.29) |
| FY2018 | −2.04 | (2.05) |
| FY2016 | 0.00 | (0.28) |
| FY2015 | 0.28 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.83) | — | −0.99 | |
| Retained earnings / total assets | (6.30) | — | −8.82 | |
| EBIT / total assets | (0.57) | — | −1.89 | |
| Market value of equity / total liabilities | 0.40 | — | 0.24 | |
| Sales / total assets | 0.91 | — | 0.91 | |
| Altman Z-score | Distress zone | −10.56 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −30.23 | ||
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 |
|---|---|
| AVD American Vanguard Corporation compare | 1.6× |
| ENFY Enlightify Inc. compare | −0.6× |
| SANW S&W Seed Company compare | −1.3× |
| LVROF Lavoro Limited compare | −1.3× |
| BHILQ Benson Hill, Inc. compare | −2.0× |
| NXTS Nexentis Technologies Inc. compare | −9.1× |
| SEED Origin Agritech Limited | −10.6× |
| YTENQ Metabolix, Inc. compare | −161× |
| BIOX Bioceres Crop Solutions Corp. 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