TSS Inc.
TSSI Technology Information Technology Services
TSS Inc.’s revenue for fiscal 2025 (year ended December 2025) was $245.7 million, up 65.9% from fiscal 2024. In the quarter to June 2026, revenue fell 20.1%, EPS fell 16.7%, free cash flow fell 34.5% and total debt fell 17.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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TSS Inc. (TSSI) Altman Z-score
TSS Inc.'s Altman Z-score for fiscal 2025 is 2.38, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.38 | (0.28) |
| FY2024 | 2.65 | 3.98 |
| FY2023 | −1.33 | 0.31 |
| FY2022 | −1.64 | 1.62 |
| FY2021 | −3.26 | (1.79) |
| FY2020 | −1.47 | 0.43 |
| FY2019 | −1.90 | 3.08 |
| FY2018 | −4.98 | 5.44 |
| FY2017 | −10.41 | (1.71) |
| FY2016 | −8.71 | (3.05) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.25 | — | 0.30 | |
| Retained earnings / total assets | (0.24) | — | −0.34 | |
| EBIT / total assets | 0.03 | — | 0.11 | |
| Market value of equity / total liabilities | 1.63 | — | 0.98 | |
| Sales / total assets | 1.33 | — | 1.33 | |
| Altman Z-score | Grey zone | 2.38 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.81 | ||
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 |
|---|---|
| HCKT The Hackett Group, Inc. compare | 4.9× |
| VRRM VERRA MOBILITY CORP compare | 2.6× |
| III Information Services Group, Inc. compare | 2.6× |
| TSSI TSS Inc. | 2.4× |
| WYFI WhiteFiber, Inc. compare | 1.9× |
| ALYAF Alithya Group Inc. compare | 0.7× |
| CNDT Conduent Inc. compare | −0.1× |
| UIS Unisys Corporation compare | −0.4× |
| TTGT TechTarget, Inc. compare | −4.0× |
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