Shapeways Holdings, Inc.
SHPWQ Industrials Specialty Industrial Machinery
Shapeways Holdings, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $34.5 million, up 3.93% from fiscal 2022. Revenue growth for three consecutive years.
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Shapeways Holdings, Inc. (SHPWQ) Altman Z-score
Shapeways Holdings, Inc.'s Altman Z-score for fiscal 2023 is −8.09, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −8.09 | (7.25) |
| FY2022 | −0.85 | (10.75) |
| FY2021 | 9.90 | 6.60 |
| FY2020 | 3.30 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.34 | — | 0.41 | |
| Retained earnings / total assets | (4.55) | — | −6.37 | |
| EBIT / total assets | (1.17) | — | −3.86 | |
| Market value of equity / total liabilities | 1.40 | — | 0.84 | |
| Sales / total assets | 0.89 | — | 0.89 | |
| Altman Z-score | Distress zone | −8.09 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −18.12 | ||
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 |
|---|---|
| JCSE JE Cleantech Holdings Limited compare | 1.8× |
| WFF WF Holding Limited compare | 1.3× |
| LBGJ Li Bang International Corporation Inc. compare | 1.2× |
| INLF INLIF Limited compare | 0.9× |
| XCH XCHG Limited compare | −2.4× |
| NMHI Nature's Miracle Holding Inc. compare | −4.9× |
| TPICQ TPI Composites, Inc. compare | −5.3× |
| SHPWQ Shapeways Holdings, Inc. | −8.1× |
| OPTT Ocean Power Technologies, Inc. compare | −16.7× |
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