Telesis Bio Inc.
TBIO Healthcare Medical Devices
Revenue growth for five consecutive years, operating cash flow growth for three.
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Telesis Bio Inc. (TBIO) Altman Z-score
Telesis Bio Inc.'s Altman Z-score for fiscal 2023 is −4.52, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −4.52 | (2.24) |
| FY2022 | −2.28 | (6.09) |
| FY2021 | 3.81 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.31 | — | 0.38 | |
| Retained earnings / total assets | (2.29) | — | −3.21 | |
| EBIT / total assets | (0.66) | — | −2.18 | |
| Market value of equity / total liabilities | 0.17 | — | 0.10 | |
| Sales / total assets | 0.39 | — | 0.39 | |
| Altman Z-score | Distress zone | −4.52 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.85 | ||
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 |
|---|---|
| WOK WORK Medical Technology Group LTD compare | 1,088× |
| TRIB Trinity Biotech PLC compare | −2.8× |
| TBIO Telesis Bio Inc. | −4.5× |
| VVOS Vivos Therapeutics, Inc. compare | −9.1× |
| CODX Co-Diagnostics, Inc. compare | −9.7× |
| INBS Intelligent Bio Solutions Inc. compare | −11.4× |
| NVNO enVVeno Medical Corporation compare | −28.3× |
| VNRX VolitionRX Limited compare | −62.8× |
| AMIX Autonomix Medical, Inc. compare | — |
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