Flyte Aviation, Inc.
VJET Healthcare Medical Devices
Flyte Aviation, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $819,000.00, up 95.0% from fiscal 2024. In the quarter to June 2026, revenue grew 380.7%, EPS grew 87.3%, free cash flow fell 26.7% and total debt rose 160.0%, each against the same quarter a year earlier. Operating cash flow growth for five consecutive years.
Follow VJET
Flyte Aviation, Inc. (VJET) Altman Z-score
Flyte Aviation, Inc.'s Altman Z-score for fiscal 2025 is −30.65, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −30.65 | (15.19) |
| FY2024 | −15.46 | 4.02 |
| FY2023 | −19.48 | (2.59) |
| FY2022 | −16.90 | (7.15) |
| FY2021 | −9.75 | (7.45) |
| FY2020 | −2.30 | (9.94) |
| FY2019 | 7.65 | (14,265,251.85) |
| FY2018 | 14265259.50 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.22) | — | −0.27 | |
| Retained earnings / total assets | (19.52) | — | −27.32 | |
| EBIT / total assets | (1.33) | — | −4.40 | |
| Market value of equity / total liabilities | 2.15 | — | 1.29 | |
| Sales / total assets | 0.05 | — | 0.05 | |
| Altman Z-score | Distress zone | −30.65 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −73.28 | ||
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 |
|---|---|
| DHAI DIH Holding US, Inc. compare | −1.8× |
| ADGM Adagio Medical Holdings, Inc. compare | −7.0× |
| BIOLQ Biolase, Inc. compare | −12.7× |
| XAIR Beyond Air, Inc. compare | −14.4× |
| NXL Nexalin Technology, Inc. compare | −26.9× |
| AFIB Acutus Medical, Inc. compare | −28.5× |
| VJET Flyte Aviation, Inc. | −30.6× |
| NUWE Nuwellis, Inc. compare | −76.4× |
| NUVOQ Holdco Nuvo Group D.G Ltd. compare | −81.9× |
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