Neuronetics, Inc.
STIM Healthcare Medical Devices
Neuronetics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $149.2 million, up 99.2% from fiscal 2024. In the quarter to June 2026, revenue grew 9.08%, EPS grew 66.7%, free cash flow grew 62.1% and total debt rose 10.8%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Neuronetics, Inc. (STIM) Altman Z-score
Neuronetics, Inc.'s Altman Z-score for fiscal 2025 is −3.48, 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 | −3.48 | 0.46 |
| FY2024 | −3.94 | (0.52) |
| FY2023 | −3.42 | (1.37) |
| FY2022 | −2.05 | (0.80) |
| FY2021 | −1.25 | 0.86 |
| FY2020 | −2.10 | (0.02) |
| FY2019 | −2.08 | (2.62) |
| FY2018 | 0.54 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.22 | — | 0.26 | |
| Retained earnings / total assets | (3.24) | — | −4.54 | |
| EBIT / total assets | (0.22) | — | −0.73 | |
| Market value of equity / total liabilities | 0.79 | — | 0.47 | |
| Sales / total assets | 1.05 | — | 1.05 | |
| Altman Z-score | Distress zone | −3.48 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −10.38 | ||
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 |
|---|---|
| PROF Profound Medical compare | 7.3× |
| RXST RxSight, Inc. compare | 5.0× |
| INGN Inogen, Inc compare | 1.6× |
| MXCT MaxCyte, Inc. compare | 1.3× |
| APYX Apyx Medical Corporation compare | 1.1× |
| OWLT Owlet, Inc. compare | −0.4× |
| QTRX Quanterix Corporation compare | −0.9× |
| STIM Neuronetics, Inc. | −3.5× |
| LUCD Lucid Diagnostics Inc. compare | −10.9× |
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