Trio Petroleum Corp.
TPET Energy Oil & Gas E&P
Trio Petroleum Corp.’s revenue for fiscal 2025 (year ended October 2025) was $398,700.00, up 87.0% from fiscal 2024. In the quarter to July 2026, revenue grew 81.2%, EPS grew 74.5% and free cash flow grew 59.5%, each against the same quarter a year earlier.
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Trio Petroleum Corp. (TPET) Altman Z-score
Trio Petroleum Corp.'s Altman Z-score for fiscal 2025 is −1.31, 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 | −1.31 | 1.75 |
| FY2024 | −3.06 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.06) | — | −0.07 | |
| Retained earnings / total assets | (2.07) | — | −2.90 | |
| EBIT / total assets | (0.40) | — | −1.32 | |
| Market value of equity / total liabilities | 4.91 | — | 2.95 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −1.31 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.61 | ||
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 |
|---|---|
| CKX CKX Lands, Inc. compare | 16.0× |
| MXC Mexco Energy Corporation compare | 8.8× |
| INDO Indonesia Energy Corporation Limited compare | 4.9× |
| PROP Prairie Operating Co. compare | 0.4× |
| BRN Barnwell Industries, Inc. compare | 0.0× |
| EONR EON Resources Inc. compare | −1.0× |
| TPET Trio Petroleum Corp. | −1.3× |
| PRT PermRock Royalty Trust compare | — |
| MTR Mesa Royalty Trust 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