Sleep Number Corporation
SNBRQ Consumer Cyclical Furnishings Fixtures & Appliances
Sleep Number Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, down 16.1% from fiscal 2024. In the quarter to March 2026, revenue fell 18.9%, EPS fell 476.3% and free cash flow fell 82.6%, each against the same quarter a year earlier.
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Sleep Number Corporation (SNBRQ) Altman Z-score
Sleep Number Corporation's Altman Z-score for fiscal 2025 is −0.66, 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 | −0.66 | (1.07) |
| FY2024 | 0.41 | (0.20) |
| FY2023 | 0.61 | (0.52) |
| FY2022 | 1.13 | (1.20) |
| FY2021 | 2.33 | (0.98) |
| FY2020 | 3.31 | 0.76 |
| FY2019 | 2.54 | (1.33) |
| FY2018 | 3.88 | (2.13) |
| FY2017 | 6.01 | 0.21 |
| FY2016 | 5.79 | (0.01) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (1.12) | — | −1.35 | |
| Retained earnings / total assets | (0.90) | — | −1.26 | |
| EBIT / total assets | (0.07) | — | −0.23 | |
| Market value of equity / total liabilities | 0.15 | — | 0.09 | |
| Sales / total assets | 2.08 | — | 2.08 | |
| Altman Z-score | Distress zone | −0.66 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −11.23 | ||
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 |
|---|---|
| MWYN Marwynn Holdings, Inc. compare | 10.4× |
| VIOT Viomi Technology Co., Ltd. Sponsored ADR compare | 2.5× |
| CRWS Crown Crafts, Inc. compare | 2.2× |
| FGI FGI Industries Ltd. compare | 2.0× |
| SNBRQ Sleep Number Corporation | −0.7× |
| PRPL PURPLE INNOVATION, INC. compare | −1.6× |
| AUVI Applied UV, Inc. compare | −1.6× |
| NCLX Northann Corp. compare | −2.2× |
| EFOI Energy Focus, Inc. compare | −34.1× |
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