SS Innovations International, Inc.
SSII Healthcare Medical Devices
SS Innovations International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $42.5 million, up 105.7% from fiscal 2024. In the quarter to June 2026, revenue grew 39.4%, EPS fell 669.2%, free cash flow fell 16.6% and total debt rose 109.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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SS Innovations International, Inc. (SSII) Altman Z-score
SS Innovations International, Inc.'s Altman Z-score for fiscal 2025 is 17.50, 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 | 17.50 | (8.19) |
| FY2024 | 25.70 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.30 | — | 0.36 | |
| Retained earnings / total assets | (0.75) | — | −1.05 | |
| EBIT / total assets | (0.11) | — | −0.36 | |
| Market value of equity / total liabilities | 29.97 | — | 17.98 | |
| Sales / total assets | 0.57 | — | 0.57 | |
| Altman Z-score | Safe zone | 17.50 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.08 | ||
Z and Z″ put SS Innovations International, Inc. in different zones: safe 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 |
|---|---|
| SSII SS Innovations International, Inc. | 17.5× |
| DCTH Delcath Systems, Inc. compare | 13.3× |
| TCMD Tactile Systems Technology, Inc. compare | 9.6× |
| BWAY Brainsway Ltd. Sponsored ADR compare | 2.8× |
| KIDS OrthoPediatrics Corp. compare | 1.5× |
| MASS 908 Devices Inc. compare | 1.1× |
| SGHT Sight Sciences, Inc. compare | 0.8× |
| CERS Cerus Corporation compare | −4.0× |
| PACB Pacific Biosciences of California, Inc. compare | −6.0× |
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