Trio-Tech International
TRT Technology Semiconductor Equipment & Materials
Trio-Tech International’s revenue for fiscal 2026 (year ended June 2026) was $62.6 million, up 71.6% from fiscal 2025. In the quarter to June 2026, revenue grew 39.9%, EPS fell 200.0%, free cash flow grew 118.8% and total debt fell 34.9%, each against the same quarter a year earlier.
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Trio-Tech International (TRT) Altman Z-score
Trio-Tech International's Altman Z-score for fiscal 2026 is 5.67, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 5.67 | 1.65 |
| FY2025 | 4.02 | 0.52 |
| FY2024 | 3.50 | 0.45 |
| FY2023 | 3.05 | 0.41 |
| FY2022 | 2.64 | 0.14 |
| FY2021 | 2.50 | 0.23 |
| FY2020 | 2.26 | (0.08) |
| FY2019 | 2.34 | (0.27) |
| FY2018 | 2.61 | (0.02) |
| FY2017 | 2.63 | 0.37 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.53 | — | 0.64 | |
| Retained earnings / total assets | 0.18 | — | 0.25 | |
| EBIT / total assets | 0.00 | — | −0.01 | |
| Market value of equity / total liabilities | 6.28 | — | 3.77 | |
| Sales / total assets | 1.03 | — | 1.03 | |
| Altman Z-score | Safe zone | 5.67 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.59 | ||
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 |
|---|---|
| AEHR Aehr Test Systems compare | 63.2× |
| PLAB Photronics, Inc. compare | 6.1× |
| TRT Trio-Tech International | 5.7× |
| ICHR Ichor Holdings, Ltd. compare | 2.8× |
| INTT inTest Corporation compare | 2.6× |
| COHU Cohu, Inc. compare | 2.4× |
| UCTT Ultra Clean Holdings, Inc. compare | 2.3× |
| ASYS Amtech Systems, Inc. compare | 1.2× |
| ATOM Atomera Incorporated compare | −3.3× |
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