Sow Good Inc.
SOWG Consumer Defensive Confectioners
In the quarter to June 2026, revenue fell 56.3%, EPS grew 96.5%, free cash flow fell 406.7% and total debt fell 92.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Sow Good Inc. (SOWG) Altman Z-score
Sow Good Inc.'s Altman Z-score for fiscal 2024 is −0.80, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | −0.80 | 0.02 |
| FY2023 | −0.81 | 10.51 |
| FY2022 | −11.33 | (7.48) |
| FY2021 | −3.84 | (1.51) |
| FY2019 | −2.34 | (1.99) |
| FY2017 | −0.35 | 198.72 |
| FY2016 | −199.07 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.32 | — | 0.39 | |
| Retained earnings / total assets | (1.14) | — | −1.60 | |
| EBIT / total assets | (0.20) | — | −0.67 | |
| Market value of equity / total liabilities | 0.83 | — | 0.50 | |
| Sales / total assets | 0.58 | — | 0.58 | |
| Altman Z-score | Distress zone | −0.80 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.48 | ||
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 |
|---|---|
| TR Tootsie Roll Industries, Inc. compare | 6.2× |
| HSY Hershey Company (The) compare | 4.2× |
| MDLZ Mondelez International, Inc. compare | 2.2× |
| RMCF Rocky Mountain Chocolate Factory, Inc. compare | 1.0× |
| SOWG Sow Good Inc. | −0.8× |
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