ToughBuilt Industries, Inc.
TBLT Industrials Tools & Accessories
ToughBuilt Industries, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $76.3 million, down 19.9% from fiscal 2022. Operating cash flow growth for three consecutive years.
Follow TBLT
ToughBuilt Industries, Inc. (TBLT) Altman Z-score
ToughBuilt Industries, Inc.'s Altman Z-score for fiscal 2023 is −7.93, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | −7.93 | (4.89) |
| FY2022 | −3.03 | (2.25) |
| FY2021 | −0.79 | 0.30 |
| FY2020 | −1.09 | 4.89 |
| FY2019 | −5.97 | — |
How fiscal 2023’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.51) | — | −0.62 | |
| Retained earnings / total assets | (3.70) | — | −5.17 | |
| EBIT / total assets | (1.10) | — | −3.65 | |
| Market value of equity / total liabilities | 0.06 | — | 0.04 | |
| Sales / total assets | 1.47 | — | 1.47 | |
| Altman Z-score | Distress zone | −7.93 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −23.01 | ||
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 |
|---|---|
| LECO Lincoln Electric Holdings, Inc. compare | 7.1× |
| TTC Toro Company (The) compare | 4.8× |
| CVR Chicago Rivet & Machine Co. compare | 4.6× |
| EML Eastern Company (The) compare | 3.4× |
| KMT Kennametal Inc. compare | 3.3× |
| TKR Timken Company (The) compare | 2.9× |
| SWK Stanley Black & Decker, Inc. compare | 2.0× |
| HLMN Hillman Solutions Corp. compare | 1.8× |
| TBLT ToughBuilt Industries, Inc. | −7.9× |
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