Sanara MedTech Inc.
SMTI Healthcare Medical Instruments & Supplies
Sanara MedTech Inc.’s revenue for fiscal 2025 (year ended December 2025) was $103.1 million, up 19.0% from fiscal 2024. In the quarter to June 2026, revenue grew 9.04%, EPS grew 78.3%, free cash flow grew 131.3% and total debt rose 5.11%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three.
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Sanara MedTech Inc. (SMTI) Altman Z-score
Sanara MedTech Inc.'s Altman Z-score for fiscal 2025 is 2.35, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.35 | (1.77) |
| FY2024 | 4.11 | (3.10) |
| FY2023 | 7.22 | (3.65) |
| FY2022 | 10.87 | (10.00) |
| FY2021 | 20.87 | (21.22) |
| FY2020 | 42.09 | 37.15 |
| FY2019 | 4.94 | (4.43) |
| FY2018 | 9.37 | 34.08 |
| FY2017 | −24.71 | 2.26 |
| FY2016 | −26.97 | 18.05 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.20 | — | 0.25 | |
| Retained earnings / total assets | (1.03) | — | −1.45 | |
| EBIT / total assets | 0.10 | — | 0.33 | |
| Market value of equity / total liabilities | 3.00 | — | 1.80 | |
| Sales / total assets | 1.41 | — | 1.41 | |
| Altman Z-score | Grey zone | 2.35 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.26 | ||
Z and Z″ put Sanara MedTech Inc. in different zones: grey zone by Z, distress zone by Z″.
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 |
|---|---|
| NNNN Anbio Biotechnology compare | 8,977× |
| UTMD Utah Medical Products, Inc. compare | 36.3× |
| PDEX Pro-Dex, Inc. compare | 7.4× |
| ZJYL Jin Medical International Ltd. compare | 3.7× |
| SMTI Sanara MedTech Inc. | 2.3× |
| EMBC Embecta Corp. compare | 1.8× |
| ANGO AngioDynamics, Inc. compare | 1.6× |
| OSUR OraSure Technologies, Inc. compare | 1.5× |
| AVR Anteris Technologies Global Corp. compare | −31.5× |
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