Siga Technologies Inc.
SIGA Healthcare Drug Manufacturers Specialty & Generic
Siga Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $94.6 million, down 31.8% from fiscal 2024. In the quarter to June 2026, revenue fell 49.5%, EPS fell 66.0% and free cash flow fell 76.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Siga Technologies Inc. (SIGA) Altman Z-score
Siga Technologies Inc.'s Altman Z-score for fiscal 2025 is 14.28, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 14.28 | 2.88 |
| FY2024 | 11.40 | 4.93 |
| FY2023 | 6.46 | (8.33) |
| FY2022 | 14.79 | 3.73 |
| FY2021 | 11.06 | (9.07) |
| FY2020 | 20.13 | 18.06 |
| FY2019 | 2.06 | (9.66) |
| FY2018 | 11.72 | 16.53 |
| FY2017 | −4.80 | (0.58) |
| FY2016 | −4.22 | (1.05) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.89 | — | 1.07 | |
| Retained earnings / total assets | (0.20) | — | −0.27 | |
| EBIT / total assets | 0.11 | — | 0.36 | |
| Market value of equity / total liabilities | 21.17 | — | 12.70 | |
| Sales / total assets | 0.43 | — | 0.43 | |
| Altman Z-score | Safe zone | 14.28 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 16.02 | ||
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 |
|---|---|
| SIGA Siga Technologies Inc. | 14.3× |
| BIOA BioAge Labs, Inc. compare | 11.0× |
| ANIK Anika Therapeutics Inc. compare | 3.1× |
| ORGO Organogenesis compare | 3.0× |
| DERM Journey Medical Corporation compare | 1.1× |
| LFCR Lifecore Biomedical, Inc. compare | 0.1× |
| AKBA Akebia Therapeutics, Inc. compare | −4.4× |
| ACB Aurora Cannabis Inc. compare | −12.3× |
| CGC Canopy Growth Corporation compare | −13.2× |
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