Token Cat Limited - Sponsored ADR
TC Communication Services Advertising Agencies
Token Cat Limited - Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $847,000.00, down 87.4% from fiscal 2024.
Follow TC
Token Cat Limited - Sponsored ADR (TC) Altman Z-score
Token Cat Limited - Sponsored ADR's Altman Z-score for fiscal 2025 is −10.94, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −10.94 | 41.44 |
| FY2024 | −52.39 | (35.90) |
| FY2023 | −16.48 | (10.08) |
| FY2022 | −6.40 | (3.96) |
| FY2021 | −2.44 | (1.02) |
| FY2020 | −1.42 | (3.15) |
| FY2019 | 1.72 | (5.76) |
| FY2018 | 7.48 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.91 | — | 1.09 | |
| Retained earnings / total assets | (8.21) | — | −11.49 | |
| EBIT / total assets | (0.20) | — | −0.66 | |
| Market value of equity / total liabilities | 0.14 | — | 0.09 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −10.94 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −18.73 | ||
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 |
|---|---|
| CHR Cheer Holding, Inc. compare | 2.4× |
| HAO Haoxi Health Technology Limited compare | 1.6× |
| YDKG Yueda Digital Holding compare | 1.2× |
| VSME VS MEDIA Holdings Limited compare | −6.3× |
| KRKR 36Kr Holdings Inc. Sponsored ADR compare | −7.8× |
| SOPAQ Society Pass Incorporated compare | −8.8× |
| CNET ZW Data Action Technologies Inc. compare | −8.9× |
| TC Token Cat Limited - Sponsored ADR | −10.9× |
| LKCO Luokung Technology Corp. compare | −23.9× |
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